Five-Unit Apartment
1937 Spring Garden Street Philadelphia, PA 19130
1937 Spring Garden Street, Philadelphia, PA, 19130
$1,350,000
For Sale
$1,350,000
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$359.04
Days on Market97
Property Features for 1937 Spring Garden Street
General Information
- Standard status
- Active
- Size
- 3,760 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
TCS Management, LLC
(215) 431-5652
Listed by
Alex Prince · License #RS322309
(215) 431-5652
Source
Xome
Added: Apr 17 Updated: Jul 20 at 7:46PM Checked: Jul 21 at 3:54AM
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
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
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 | $114.2k | $30.36 |
| − Vacancy | −$6.6k | −$1.76 |
| EGI | $107.5k | $28.60 |
| − OpEx | −$48.4k | −$12.87 |
| NOI | $59.1k | $15.73 |
3,760 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$844.9K
$739.3K – $985.7K
NOI $59,143 @ 7.0% cap · market cap 4.38%
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 4.75%
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 - 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 Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,350,000.
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
