5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
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5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
5038 SPRUCE STREET
Sold

5038 SPRUCE STREET

5038 Spruce St, Philadelphia, PA 19139

$810,000
Huge, 12-year old, four-unit building in excellent condition. Located at the intersection of the highly desirable Garden Court and Walnut Hill neighborhoods of University City, this turn-key property offers four 1,500\? residences, each with central air; in-unit washers and dryers; modern, newer kitchen and baths with solid finishes; recessed lighting; excellent space and storage; bright natural light; and really nice outdoor space. These sought after units are each the size of a comfortable home, yet offering single floor living. So easy to rent. The 1st floor offers 3 bedrooms, 2 full baths, and a very large rear yard. The 2nd floor offers 3 bedrooms, 2 full baths, and a rear deck. The 3rd and 4th floors each offer 2 full bedrooms, 1.5 baths, huge living spaces, and rear decks. Super convenient location with a 93 WalkScore and tons of SEPTA options to Center City, Penn, Drexel, HUP, 30th Street, etc. This building currently brings in $71,000+/year with very low expenses. While the list price reflects these numbers, the building is significantly under-rented with three leases expiring in March 2023 and one is currently month-to-month. Just ideal, as new owner is set up to seamlessly bring rents up to our projected rents of $2,000+ per unit (for first two floors)and $1,800+ per unit (for upper two floors) or $91,000+/year. Additional bonus potential: Other quads on the block have successfully applied for variance for 5th unit in lower level. This building has lower level just waiting to be finished. Potentially add another $1,200-$1,500/month to your rent roll. All utilities and mechanicals are separated (except for cold water). A superb investment opportunity in a red-hot neighborhood.

4
beds

6,400 Sq.Ft. LIVING AREA

2,613.6 Sq.Ft. lot

Jermaine Parker

Jermaine Parker

Features & Amenities

Interior

  • total bedrooms4

Area & Lot

  • Status Sold
  • Living Area6,400 Sq.Ft.
  • Lot Area2,613.6 Sq.Ft.
  • MLS® IDPAPH2141148
  • TypeMulti-Family
  • YEAR BUILT2010
  • Architecture StylesOther
  • School DistrictTHE SCHOOL DISTRICT OF PHILADELPHIA

Exterior

  • water SourcePublic
  • parkingOn Street
  • HEAT TYPEForced Air, Zoned, Natural Gas
  • AIR CONDITIONINGCentral Air
  • sewerPublic Sewer

Financial

  • Sales Price$810,000
  • Real Estate Tax $9,307/yr

Work With Jermaine

Whether you're a first-time buyer or looking for a second home, you will benefit from top-notch marketing, sales, and negotiation experience from someone who cares and makes you the priority.

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