Turnkey Renovated Multifamily
19335 SPRUCE STREET Philadelphia, PA 19103
New
19335 SPRUCE STREET, Philadelphia, PA, 19103
$3,400,000
For Sale
$3,400,000
Fully leased and renovated building with 10 apartments, including studio and 1- and 2-bedroom units.
Property Size6,627 SF
Price / SF$513.05
Days on Market1
Property Features for 19335 SPRUCE STREET
General Information
- Standard status
- Active
- Size
- 6,627 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1860
Listing Agency
(610) 606-1095
Listed by
Keller Williams Liberty Place
(610) 606-1095
Source
Xome
Added: Jul 18 Checked: Jul 18 at 3:34 am
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 Keller Williams Liberty Place
Investment Insights
Based on property information with market context.
1933-5 Spruce Street offers a turnkey multifamily building featuring ten (10) apartments that are fully leased and renovated. The unit mix includes two (2) studio units, two (2) 2-bedroom/2-bath units, and six (6) 1-bedroom/1-bath units.
The property is located on a hard corner at 20th & Spruce Streets and is approximately 1.5 blocks from Rittenhouse Square Park, placing it within a short walk of major dining and shopping.
For brokers and investors, the configuration provides a diversified rental mix across studio, one-bedroom, and two-bedroom residences within a small, boutique building.
The property is located on a hard corner at 20th & Spruce Streets and is approximately 1.5 blocks from Rittenhouse Square Park, placing it within a short walk of major dining and shopping.
For brokers and investors, the configuration provides a diversified rental mix across studio, one-bedroom, and two-bedroom residences within a small, boutique building.
Key Highlights
- 10 fully leased apartments in a renovated building at 1933‑5 Spruce Street
- Unit mix: two studio units, two 2 bed/2 bath units, and six 1 bed/1 bath units
- Hard corner location at 20th & Spruce Streets in downtown Philadelphia
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 | $201.2k | $30.36 |
| − Vacancy | −$11.7k | −$1.76 |
| EGI | $189.5k | $28.60 |
| − OpEx | −$85.3k | −$12.87 |
| NOI | $104.2k | $15.73 |
6,627 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,240 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.62M
$1.41M – $1.88M
NOI $113,089 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1031 exchange properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully leased and renovated building with 10 apartments, including studio and 1- and 2-bedroom units.
Where is this apartment building located?
The property is located at 19335 SPRUCE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 10 fully leased apartments in a renovated building at 1933‑5 Spruce Street; Unit mix: two studio units, two 2 bed/2 bath units, and six 1 bed/1 bath units; Hard corner location at 20th & Spruce Streets in downtown Philadelphia
