Five-Unit Apartment
For Sale
$1,250,000
1937 Spring Garden St, Philadelphia, PA 19130
Five apartment units with a mix of one-bedroom and three-bedroom floor plans offered for fee-simple sale.
Property Size3,760 SF
Price / SF$332.45
Days on Market182
Property Features for 1937 Spring Garden St
General Information
Standard status
Active
Size
3,760 SF
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
TCS Management, LLC
Listed By:
Alex C Prince, Moshe Adika · License #RS322309
(215) 431-5652
Source:
Premierehomegroup
Added: Apr 24
Changed: Oct 5
Last Checked: Oct 7 at 2:49PM
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 TCS Management, LLC
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Investment Insights
Based on property information with market context.
This five-unit apartment building offers a mix of (3) one-bedroom and (2) three-bedroom floor plans. The property is presented as a brownstone-style asset with five separate residential units, providing income potential through an investor-focused acquisition.
The building is located in the Fairmount–Art Museum section of Center City Philadelphia, within walking distance to the Schuylkill River Trail, Martin Luther King Drive, and Center City Philadelphia. It is described as transit-oriented, with Spring Garden Station on the SEPTA Broad Street Subway Line approximately 0.5 miles away, and minutes from major highway routes including I-76, I-676, and I-95.
The offering is for the fee-simple interest in 1937 Spring Garden Street and is marketed to qualified investors seeking to support performance through targeted interior upgrades to select units.
The building is located in the Fairmount–Art Museum section of Center City Philadelphia, within walking distance to the Schuylkill River Trail, Martin Luther King Drive, and Center City Philadelphia. It is described as transit-oriented, with Spring Garden Station on the SEPTA Broad Street Subway Line approximately 0.5 miles away, and minutes from major highway routes including I-76, I-676, and I-95.
The offering is for the fee-simple interest in 1937 Spring Garden Street and is marketed to qualified investors seeking to support performance through targeted interior upgrades to select units.
Key Highlights
- Fee‑simple sale: 1937 Spring Garden Street in Center City Philadelphia (Fairmount‑Art Museum section)
- Multi‑family asset with 5 apartment units: 3 one‑bedroom and 2 three‑bedroom floor plans
- Newer owner investment potential noted: light value‑add via upgrades to select unit interiors to pursue higher rents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,143
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,860
$1.2M
Cap Rate 7%
$844,900
$844.9K
Cap Rate 9%
$657,144
$657.1K
Market Conditions
NOI Build-Up for 3,760 SF
Gross rent
$114.2K $30.36/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$107.5K $28.60/SF
− OpEx
−$48.4K −$12.87/SF
NOI
$59.1K $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%
$1,182,860
Cap Rate 7%
$844,900
Cap Rate 9%
$657,144
Alternative Uses
Best Use
Apartment 5plus
$844.9K
$739.3K – $985.7K
NOI $59,143 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$916.6K
$802.1K – $1.07M
NOI $64,164 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five apartment units with a mix of one-bedroom and three-bedroom floor plans offered for fee-simple sale.
Where is this apartment building located?
The property is located at 1937 Spring Garden St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Fee‑simple sale: 1937 Spring Garden Street in Center City Philadelphia (Fairmount‑Art Museum section); Multi‑family asset with 5 apartment units: 3 one‑bedroom and 2 three‑bedroom floor plans; Newer owner investment potential noted: light value‑add via upgrades to select unit interiors to pursue higher rents
