Waterfront Residential Income
For Sale
$390,000
901 N PENN STREET Unit R308, Philadelphia, PA 19123
Flexible residence offers two full bathrooms, a private balcony, river views, and an included parking license.
Property Size1,114 SF
Days on Market51
Property Features for 901 N PENN STREET Unit R308
General Information
Standard status
Active
Size
1,114 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x Junior 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,645
Amenities
24/7 concierge
gated security
Junior Olympic-size heated pool
hot tub
expansive sun deck
full fitness center
sauna
steam room
massage rooms
Philadelphia's largest green roof
beautifully landscaped grounds
on-site management
EV charging stations
weekday shuttle to 30th Street Station
private balcony
full-size washer and dryer
built-in shelving
integrated storage
granite countertops
stainless steel appliances
Building Details
Building Size
1,114 SF
Year Built
2006
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Naomi Kurzyna · License #RS343663
(301) 520-3224
Source:
Patmckennarealtors
Added: Sep 16
Changed: Oct 31
Last Checked: Nov 4 at 7:07PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Residence R308 is a spacious junior two-bedroom home with a den that can serve as a second bedroom, office, or guest suite. The layout includes 2 Full Bathrooms, an open kitchen with granite counters and stainless steel appliances, a full-size washer and dryer, built-in storage, and floor-to-ceiling windows. A private balcony is accessible from both the living room and den, while northern and eastern Delaware River views extend to the primary bedroom. The primary suite includes a four-piece bath with marble tile, a jetted tub, and a separate shower.
The home is located within Waterfront Square, a secure 9.5-acre gated community along the Delaware River. Community features include 24/7 concierge service, gated security, a heated Junior Olympic-size pool, hot tub, fitness center, sauna, steam room, massage rooms, landscaped grounds, EV charging stations, on-site management, and a weekday shuttle to 30th Street Station. The building dates to 2006 and offers access to highways, bridges, Philadelphia International Airport, and city destinations.
The home is located within Waterfront Square, a secure 9.5-acre gated community along the Delaware River. Community features include 24/7 concierge service, gated security, a heated Junior Olympic-size pool, hot tub, fitness center, sauna, steam room, massage rooms, landscaped grounds, EV charging stations, on-site management, and a weekday shuttle to 30th Street Station. The building dates to 2006 and offers access to highways, bridges, Philadelphia International Airport, and city destinations.
Key Highlights
- Junior 2‑Bedroom layout with a flexible den
- 2 Full Bathrooms, including a primary suite with jetted tub and separate shower
- Private Balcony accessible from both the Living Room and 2nd Bedroom/Den
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,523
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,460
$350.5K
Cap Rate 7%
$250,329
$250.3K
Cap Rate 9%
$194,700
$194.7K
Market Conditions
NOI Build-Up for 1,114 SF
Gross rent
$33.8K $30.36/SF
− Vacancy
−$2.0K −$1.76/SF
EGI
$31.9K $28.60/SF
− OpEx
−$14.3K −$12.87/SF
NOI
$17.5K $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%
$350,460
Cap Rate 7%
$250,329
Cap Rate 9%
$194,700
Alternative Uses
Best Use
Apartment 5plus
$250.3K
$219.0K – $292.1K
NOI $17,523 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$271.6K
$237.6K – $316.8K
NOI $19,010 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible residence offers two full bathrooms, a private balcony, river views, and an included parking license.
Where is this residential income property located?
The property is located at 901 N PENN STREET Unit R308 Philadelphia, PA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Junior 2‑Bedroom layout with a flexible den; 2 Full Bathrooms, including a primary suite with jetted tub and separate shower; Private Balcony accessible from both the Living Room and 2nd Bedroom/Den
