5134 Spruce St,PHILADELPHIA, PA 19139
PHILADELPHIA, PA 19139
Description
Well-positioned just off the growing 52nd Street Corridor and minutes from University City, this 5-unit property offers excellent long-term upside in a high-demand rental market. With close proximity to UPenn, Drexel, and major hospitals, the area consistently attracts a deep tenant pool of students, healthcare workers, and professionals. The building features a versatile unit mix of one 3-bedroom, and four 1-bedroom units, ideal for maximizing rental income and tenant flexibility. Rent projections (based on Philadelphia Housing Voucher Program rates) support a projected cap rate exceeding 16%! Units feature spacious layouts, large windows, and strong natural light. One unit is currently leased for immediate cash flow, while the remaining units will be delivered vacant, offering value-add potential. With all utilities already properly separated, and rental licenses approved and active, 5134 Spruce offers a rare opportunity for a new owner to accomplish easy cosmetic upgrades and capture maximum value through lease up. Located just blocks from the Market-Frankford Line, with easy access to Center City, University City, and neighborhood amenities along Baltimore Avenue and Malcolm X Park, this location continues to benefit from ongoing development and steady rental demand. Situated within a Qualified Opportunity Zone, the potential future advantages are multifaceted. Come take a look at this opportunity while it lasts.
Details
| MLS # | PAPH2602952 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1925 |
| Days On Site | 176 |
| Listing Provided By | Compass Pennsylvania, LLC | Peter van der Vlugt |
Features
| SQ Feet | 3,159 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Units | 4 |
| Zoning | RSA5 |
Interior
| Rooms Total | 17 |
|---|---|
| Cooling | Central A/C |
| Heating Yes / No | Yes |
| Heating | Forced Air |
Exterior
| Construction Materials | Brick, Stone |
|---|---|
| Foundation Details | Stone |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 5830 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19139 |
| Area | 19139 (19139) |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Listing VS Median (in 19139) | |
Price: $428,000 low | high Med: $160,000 sqft: 3,159 low | high Med: 1,043 $ / sqft: $135 low | high Med: $153 On site: 176 low | high Med: 86.5 | |
Market Activity 19139
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19139 |
| Area | 19139 (19139) |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Listing VS Median (in 19139) | |
Price: $428,000 low | high Med: $160,000 sqft: 3,159 low | high Med: 1,043 $ / sqft: $135 low | high Med: $153 On site: 176 low | high Med: 86.5 | |
