Residential Income
For Sale
$525,000
Pending
1034 SPRUCE STREET Unit 501, Philadelphia, PA 19107
The property is a Philadelphia condominium in a building completed in 2005.
Property Size1,101 SF
Days on Market24
Property Features for 1034 SPRUCE STREET Unit 501
General Information
Standard status
Pending
Size
1,101 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Chinatown
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,008
Building Details
Building Size
1,101 SF
Year Built
2005
Listing Agency:
Coldwell Banker Realty
Listed By:
Kenneth McCoy · License #RS314150
(215) 869-7391
Source:
Patmckennarealtors
Added: Oct 9
Changed: Oct 31
Last Checked: Nov 1 at 2:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This residential condominium is located at 1034 Spruce Street, Unit 501, in Philadelphia. The building was completed in 2005.
Key Highlights
- Built in 2005
- Located at 1034 Spruce Street, Unit 501 in Philadelphia
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,318
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,360
$346.4K
Cap Rate 7%
$247,400
$247.4K
Cap Rate 9%
$192,422
$192.4K
Market Conditions
NOI Build-Up for 1,101 SF
Gross rent
$33.4K $30.36/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$31.5K $28.60/SF
− OpEx
−$14.2K −$12.87/SF
NOI
$17.3K $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 Rate 5%
$346,360
Cap Rate 7%
$247,400
Cap Rate 9%
$192,422
Alternative Uses
Best Use
Apartment 5plus
$247.4K
$216.5K – $288.6K
NOI $17,318 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$268.4K
$234.9K – $313.1K
NOI $18,788 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
14,998
Businesses Nearby
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Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property is a Philadelphia condominium in a building completed in 2005.
Where is this residential income property located?
The property is located at 1034 SPRUCE STREET Unit 501 Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Built in 2005; Located at 1034 Spruce Street, Unit 501 in Philadelphia
