Residential Income Property with River
For Sale
$255,000
901 N PENN STREET Unit R306, Philadelphia, PA 19123
Third-floor condominium with hardwood flooring and access to an elevated park.
Property Size738 SF
Price / SF$345.53
Days on Market95
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
Site & Location
Neighborhood
North Philadelphia
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,926
Amenities
pool
gym
24-hour security
shuttle service
above-ground park
Building Details
Building Size
738 SF
Year Built
2006
Listing Agency:
Keller Williams Realty
Listed By:
Desantis Real Estate Team · License #342628
(267) 625-7016
Source:
Desantis-realestate
Added: Jul 29
Changed: Oct 29
Last Checked: Oct 27 at 3:25AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 738-square-foot condominium occupies the third floor of a high-rise building completed in 2006. Hardwood flooring runs throughout, and the unit has upriver views. One parking space is included.
Building amenities include a pool, gym, 24-hour security, and shuttle service. The third floor also provides direct access to an above-ground park.
Building amenities include a pool, gym, 24-hour security, and shuttle service. The third floor also provides direct access to an above-ground park.
Key Highlights
- 738‑square‑foot third‑floor condominium
- Upriver views and hardwood flooring throughout
- Direct third‑floor access to an above‑ground park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,608
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,160
$232.2K
Cap Rate 7%
$165,829
$165.8K
Cap Rate 9%
$128,978
$129.0K
Market Conditions
NOI Build-Up for 738 SF
Gross rent
$22.4K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$21.1K $28.60/SF
− OpEx
−$9.5K −$12.87/SF
NOI
$11.6K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,160
Cap Rate 7%
$165,829
Cap Rate 9%
$128,978
Alternative Uses
Best Use
Apartment 5plus
$165.8K
$145.1K – $193.5K
NOI $11,608 @ 7.0% cap · market cap 4.55%
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 4.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,980
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condominium with hardwood flooring and 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 $255,000.
What are key features of this property?
This property features: 738‑square‑foot third‑floor condominium; Upriver views and hardwood flooring throughout; Direct third‑floor access to an above‑ground park
