Spacious Multifamily Property with
5617 SPRUCE Street, Philadelphia, PA 19139
MULTI_FAMILY - Colonial - PHILADELPHIA, PA
Property size:
1,700 SFLot size:
0.04 AcresPrice / SF:
$194/SF- Added:
- Oct 4, 2025
- Days on Market:
- 226
- Last Refresh:
- May 17 at 1:06 pm
Property Features for 5617 SPRUCE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 1,700 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3011
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1925
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Colonial
Listing agent Haroun Zellagui License #rs360618 (267) 251-4480
Listing office Keller Williams Main Line 6 Coulter Avenue unit: 2, Ardmore, PA (610) 520-0100
Listing date Oct 4, 2025
MLS# PAPH2542986
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- CMX‑2 Zoning: Offers significant flexibility for residential and commercial use, maximizing income potential.
- Multifamily Property: Provides immediate income opportunities with existing apartments on the second and third floors.
- Large Ground Floor Space: Can be converted into a 1‑2 bedroom unit or a storefront with an efficiency apartment.
- Studio Apartment: The rear studio space presents an opportunity for renovation or redesign.
- Two Apartments: The second and third floors each have 2 bedrooms, a kitchen, and a bathroom.
- Rooftop Deck: Accessible from the second floor, adding outdoor living space.
Overview
This multifamily property, zoned CMX-2, presents an opportunity for generating income. The ground floor includes an apartment, a utility room, and a corridor leading to a large rear room that previously functioned as a studio apartment with a rooftop deck. This level is partially finished and can be configured as a 1-2 bedroom unit or transformed into a storefront with a separate efficiency-style apartment. The former studio apartment at the back of the property is ready for renovation or redesign. The second floor features 2 bedrooms, a living room, a bathroom, and an eat-in kitchen with cabinetry, plus access to the rooftop deck above the studio. The third floor offers 2 bedrooms, an eat-in kitchen, and a full bathroom. The property is being sold as-is and requires renovation. The property size is 1700 square feet and the lot size is 0.0444 acres. Located in Philadelphia, PA 19139.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$322.3K
NOI $29,010 @ 9.00% cap · cautious / downside scenario
Moderate
$414.4K
NOI $29,010 @ 7.00% cap · market / base-case scenario
Aggressive
$580.2K
NOI $29,010 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.9k | $25.80 |
| − Vacancy | −$2.4k | −$1.42 |
| EGI | $41.4k | $24.38 |
| − OpEx | −$12.4k | −$7.31 |
| NOI | $29.0k | $17.06 |
1,700 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$414.4K
$362.6K – $483.5K
NOI $29,010 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$382.0K
$334.3K – $445.7K
NOI $26,740 @ 7.0% cap · market cap 8.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.23475
- Latitude
- 39.95589
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Multifamily property with income potential, zoned CMX-2.
Where is this triplex located?
The property is located at 5617 SPRUCE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $331,000.
What are key features of this property?
This property features: CMX‑2 Zoning: Offers significant flexibility for residential and commercial use, maximizing income potential.; Multifamily Property: Provides immediate income opportunities with existing apartments on the second and third floors.; Large Ground Floor Space: Can be converted into a 1‑2 bedroom unit or a storefront with an efficiency apartment.
