4520 Spruce St, Philadelphia, PA 19139
- $900,000
- List Price
- $900,000
- Days on Market
- 48
- Status
- ACTIVE
- MLS#
- PAPH2633172
- Lot Size (Acres)
- 0.11
- Year Built
- 1925
- County
- Philadelphia
- School District
- Philadelphia City
Property Description
Rare opportunity to acquire an established portfolio of 18 units across three buildings in prime Powelton Village and Spruce Hill locations, walkable to both Drexel University and University of Pennsylvania. Stabilized, income-producing investment with value-add potential via light upgrades - proforma 7.3% cap rate. Portfolio price is $2,500,000 for all three buildings, or purchase separately. 4520 Spruce Street is a 6 unit building (6 x 1 bed units), offered at $900,000. In-place NOI $53k. Benefit from a strong tenant base derived from University of Pennsylvania's full-time student population of 23,948 (up 1.65% YOY), as well as 39,000+ individuals employed by University of Pennsylvania, and an overall population of more than 100,000 residents between the 19104 and 19139 zip codes. As the pipeline of multifamily deliveries in Philadelphia continues to dwindle, demand is expected to outpace supply, driving further rental growth in 2025-2026, presenting a unique opportunity for investors to acquire a high-quality, income-producing asset with significant long-term upside. Offering memorandum available upon request.
Additional Information
- Area
- 19139 (19139)
- Subdivision
- Spruce Hill
- Taxes
- $8075
- School District
- Philadelphia City
- Heating
- Hot Water, Radiator
- Heating Fuel
- Natural Gas
- Cooling
- Window Unit(s)
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Mallin Panchelli Nadel Realty Inc. Contact: 2154134900