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1600 Spruce St 3 Unit Apartment Building $1,750,000 ($583,333/Unit) Philadelphia, PA 19103
Executive Summary
MPN Realty is pleased to serve as Exclusive Agent representing the Ownership in the Sale of 1600 Spruce Street, in Philadelphia PA. The Property is situated on the prime corner of 16th and Spruce Streets, in Philadelphia’s most prestigious neighborhood: Rittenhouse Square. Originally built in the mid-1800s, the Ownership has renovated and upgraded the building in recent years. The fully occupied property consists of two 2-bedroom apartments, a professional office suite, and a highly visible retail space occupied by Weckerly’s Ice Cream on a NNN lease. 1600 Spruce Street is turnkey asset combining stable income with recent upgrades and a premier location.
Highlights:
• Turnkey 4-unit mixed-use corner property
• Prime Rittenhouse Square neighborhood
• Fully leased and recently renovated
• High-visibility retail space leased to strong tenant on a NNN lease
Highlights:
• Turnkey 4-unit mixed-use corner property
• Prime Rittenhouse Square neighborhood
• Fully leased and recently renovated
• High-visibility retail space leased to strong tenant on a NNN lease
Property Facts
| Price | $1,750,000 | Property Subtype | Apartment |
| Price Per Unit | $583,333 | Building Class | C |
| Sale Type | Investment | Building Size | 4,254 SF |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1800 |
| Zoning | CMX-2 | ||
| Price | $1,750,000 |
| Price Per Unit | $583,333 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Building Size | 4,254 SF |
| No. Stories | 4 |
| Year Built | 1800 |
| Zoning | CMX-2 |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 871513500 | Improvements Assessment | $1,138,000 |
| Land Assessment | $284,500 | Total Assessment | $1,422,500 |
Property Taxes
Parcel Number
871513500
Land Assessment
$284,500
Improvements Assessment
$1,138,000
Total Assessment
$1,422,500
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