High-Rise Residential Income
New
For Sale
$269,000
901 N PENN STREET Unit R306, Philadelphia, PA 19123
Third-floor condominium with hardwood flooring, river views, and direct access to an elevated park.
Property Size738 SF
Days on Market7
Property Features for 901 N PENN STREET Unit R306
General Information
Standard status
Active
Size
738 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,926
Amenities
pool
gym
24-hour security
shuttle service
Building Details
Building Size
738 SF
Year Built
2006
Listing Agency:
Wynn Real Estate LLC
(215) 421-7867
Listed By:
Irina Wynn · License #RB066169
(215) 421-7867
Source:
Patmckennarealtors
Added: Jul 29
Changed: Aug 4
Last Checked: Aug 4 at 4:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wynn Real Estate LLC
Investment Insights
Based on property information with market context.
This third-floor condominium is located within a high-rise residential building completed in 2006. Hardwood flooring extends throughout the unit, while river-facing views provide a distinctive outlook. The residence also connects directly to an above-ground park from the third floor.
Building amenities include a swimming pool, fitness center, 24-hour security, and shuttle service. One parking space is included with the property. The unit is identified as R306 at 901 N Penn Street in Philadelphia, Pennsylvania.
Building amenities include a swimming pool, fitness center, 24-hour security, and shuttle service. One parking space is included with the property. The unit is identified as R306 at 901 N Penn Street in Philadelphia, Pennsylvania.
Key Highlights
- Third‑floor condominium in a high‑rise building completed in 2006
- River views with hardwood floors throughout the unit
- Direct third‑floor access to an above‑ground park
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.4k | $30.36 |
| − Vacancy | −$1.3k | −$1.76 |
| EGI | $21.1k | $28.60 |
| − OpEx | −$9.5k | −$12.87 |
| NOI | $11.6k | $15.73 |
738 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$165.8K
$145.1K – $193.5K
NOI $11,608 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$179.9K
$157.4K – $209.9K
NOI $12,594 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condominium with hardwood flooring, river views, and direct access to an elevated park.
Where is this residential income property located?
The property is located at 901 N PENN STREET Unit R306 Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Third‑floor condominium in a high‑rise building completed in 2006; River views with hardwood floors throughout the unit; Direct third‑floor access to an above‑ground park
