PA > Philadelphia > Spruce Hill
Philadelphia, PA 19139,4520 SPRUCE ST
Philadelphia, PA 19139,4520 SPRUCE ST
Philadelphia, PA 19139,4520 SPRUCE ST
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Listed by Samantha Lee Miller • Select Commercial Advisors
$1,000,000
Est. payment /mo
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4,640 SqFt
New

4520 SPRUCE ST Philadelphia, PA 19139

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

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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

Bright MLS (BMLS)

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agent

Jonathan Greene

Team Leader | License ID: 1433604

+1(973) 873-0734

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