1324 Locust St.
Philadelphia, PA 19107
The Arts Condominium has a really great location on Locust Street just steps away from the Avenue of the Arts. Ranging from studios to the 2 bedroom penthouse, The Arts Condos enjoy a grand lobby with a 24-hour doorman, a communal laundry facility, bike storage, and a gym. The building is comprised primarily of studios, and to be completely honest, these studio condos are small (most are under 400 square feet and feature a kitchenette rather than a kitchen). The condo fees include all of your utilities (excluding cable/internet). The building originally attracted a lot of cash investors due to the price tag and continues to do so as this is definitely the only building in the Washington Square West neighborhood (if not all of Center City) where you can buy a condo for under $100K. Due to the heavy concentration of investors it has become difficult to obtain financing in the building as the tenant occupant to owner occupant ratio is heavily distorted in favor of tenants (meaning most of the residents in the building are renters rather than the condo owners which banks don’t like). The turnover is high in the building resulting in there usually being a fair amount of inventory available. Many of the upper floor units have great views, and the location is awesome. If you want to get in the neighborhood for cheap, then The Arts Condominium has the condos for you.