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2029 Spruce St
Philadelphia, PA 19103
Multifamily Property For Sale
·
7 Units
Executive Summary
Rarely available Fitler Square brownstone offering a blue chip long-term investment opportunity in one of Philadelphia's most desirable neighborhoods. Situated on a 19' x 96' lot, this seven-unit property consists of three one-bedroom apartments, three studios, and one two-bedroom apartment. Most units have been updated over the past decade and feature separate split-zone electric heating and cooling. Tenants pay their own electric and cooking gas, while ownership is responsible for water, sewer, and gas hot water (Except Unit 1 with electric hot water heating - tenant responsible). Laundry is available in the building or in-unit. Rent Roll: 1F: 2 Bed / 1 Bath – $2,575 (Lease Exp. 7/28/26) 1R: Studio / 1 Bath – $1,475 (Lease Exp. 6/27/27) 2F: 1 Bed / 1 Bath – $1,825 (Lease Exp. 6/27/27) 2R: Studio / 1 Bath – $1,575 (Lease Exp. 6/27/27) 3F: 1 Bed / 1 Bath – $1,995 (Lease Exp. 6/27/27) 3R: Studio / 1 Bath – $1,295 (Lease Exp. 6/27/27) 4: 1 Bed / 1 Bath – $1,645 (Lease Exp. 6/27/27) Current annual operating expenses are approximately $30,261.54, resulting in a Net Operating Income (NOI) of approximately $118,358.46. See the documents section for more details. Schedule your showing today!
Property Facts
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| No. Units | 7 | Building Size | 4,018 SF |
| Property Type | Multifamily | Average Occupancy | 83% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1890 |
| Zoning | R10 - R10 Zoning: High-density residential zoning for apartments and condos. | ||
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,018 SF |
| Average Occupancy | 83% |
| No. Stories | 4 |
| Year Built | 1890 |
| Zoning | R10 - R10 Zoning: High-density residential zoning for apartments and condos. |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 500 |
| 1+1 | 3 | - | 750 |
| 2+1 | 1 | - | 1,000 |
Property Taxes
| Parcel Number | 881545100 | Improvements Assessment | $875,000 |
| Land Assessment | $375,000 | Total Assessment | $1,250,000 |
Property Taxes
Parcel Number
881545100
Land Assessment
$375,000
Improvements Assessment
$875,000
Total Assessment
$1,250,000
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