Renovated Two-Unit
For Sale
$261,500
6013 SPRUCE Street, Philadelphia, PA 19139
Multi-Family, PHILADELPHIA, PA
Property Size1,416 SF
Lot Size0.04 Acres
Price / SF$184.68
Days on Market103
Property Features for 6013 SPRUCE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,416 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3332
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Silver and Oak Realty
(201) 630-0360
Listed By:
Sascha Alexander Edelkraut
(267) 399-8043
Added: May 29
Changed: Aug 19
Last Checked: Sep 8 at 7:06PM
MLS# PAPH2617840
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.
Investment Insights
Based on property information with market context.
This masonry duplex contains 1,416 square feet within a 0.0367-acre lot and was originally built in 1925. Renovations completed in 2016 updated the electric, plumbing, and HVAC systems. The property includes two occupied units: one with 1 bedroom, 1 bath, a kitchen, and living room; the other with 2 beds, 1 bath, and a kitchen. Both units are occupied by long-term tenants. Central heating and central air serve the building, while parking is available on street.
Located at 6013 SPRUCE Street in Philadelphia, PA 19139, the property is in West Philadelphia. The two-unit layout provides distinct residential spaces within a compact multifamily asset.
Located at 6013 SPRUCE Street in Philadelphia, PA 19139, the property is in West Philadelphia. The two-unit layout provides distinct residential spaces within a compact multifamily asset.
Key Highlights
- Two‑unit duplex with 1,416 square feet
- Unit 1 includes 1 bed, 1 bath, kitchen, and living room
- Unit 2 includes 2 beds, 1 bath, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,273
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,460
$445.5K
Cap Rate 7%
$318,186
$318.2K
Cap Rate 9%
$247,478
$247.5K
Market Conditions
NOI Build-Up for 1,416 SF
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.
Gross rent
$43.0K $30.36/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$40.5K $28.60/SF
− OpEx
−$18.2K −$12.87/SF
NOI
$22.3K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$445,460
Cap Rate 7%
$318,186
Cap Rate 9%
$247,478
Alternative Uses
Best Use
Multifamily LT 5
$345.2K
$302.1K – $402.7K
NOI $24,164 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.2K
NOI $22,273 @ 7.0% cap · market cap 8.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer separate kitchens and major systems updated in 2016.
Where is this duplex located?
The property is located at 6013 SPRUCE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $261,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,416 square feet; Unit 1 includes 1 bed, 1 bath, kitchen, and living room; Unit 2 includes 2 beds, 1 bath, and kitchen
