4520 SPRUCE ST new to site Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19139
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,640 sqft
Price per Sqft $215
Subdivision Spruce Hill
MLS Listing ID PAPH2519796
Year Built 1925
Annual Tax Amount $8,075
Tax Year 2024
Lot Size 4,720 Sqft
Acres 0.11
Lot Dimensions 30.00 x 160.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Rare opportunity to acquire an established portfolio of 28 units (52 Beds) across four 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 $5,100,000 for all four buildings, or purchase separately. 4520 Spruce Street is a 6 unit building (6 x 1 bed units), offered at $1,000,000. 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.
Location
State PA
County Philadelphia
Area 19139 (19139)
Zoning RTA1
Interior
Hot Water Natural Gas
Heating Hot Water,Radiator
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881700780
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard