Multifamily Apartment
1423 Spruce St Philadelphia, PA 19102
New
1423 Spruce St, Philadelphia, PA, 19102
$1,590,000
For Sale
$1,590,000
For sale apartment building located off Broad Street in Philadelphia.
Property Size3,000 SF
Price / SF$530
Days on Market6
Property Features for 1423 Spruce St
General Information
- Standard status
- Active
- Size
- 3,000 SF
Building Details
- Year Built
- 1981
Listing agency
Philly Real Estate
(215) 722-0800
Listed by
Ming T Lo
(215) 722-0800
Source
Evrealestate
Added: Jul 17 Updated: Jul 20 at 3:38AM Checked: Jul 22 at 7:08AM
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 Philly Real Estate
Investment Insights
Based on property information with market context.
This multifamily apartment building is offered for sale in Philadelphia, PA. The property is identified as 1423 Spruce St, Philadelphia, PA 19102.
Directions indicate the building is off Broad Street. The listing falls within Philadelphia County/Parish. With the provided information, no additional unit count, layout details, or income/expense figures are specified in the remarks.
Directions indicate the building is off Broad Street. The listing falls within Philadelphia County/Parish. With the provided information, no additional unit count, layout details, or income/expense figures are specified in the remarks.
Key Highlights
- Apartment building for sale off Broad Street in Philadelphia (Philadelphia County/Or Parish: PHILADELPHIA).
- Year built: 1981.
- Central air cooling.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.1k | $30.36 |
| − Vacancy | −$5.3k | −$1.76 |
| EGI | $85.8k | $28.60 |
| − OpEx | −$38.6k | −$12.87 |
| NOI | $47.2k | $15.73 |
3,000 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$674.1K
$589.9K – $786.5K
NOI $47,189 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 3.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - For sale apartment building located off Broad Street in Philadelphia.
Where is this apartment building located?
The property is located at 1423 Spruce St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Apartment building for sale off Broad Street in Philadelphia (Philadelphia County/Or Parish: PHILADELPHIA).; Year built: 1981.; Central air cooling.
