Multifamily Property with Central
For Sale
$1,500,000
3607 SPRING GARDEN STREET, Philadelphia, PA 19104
RM1 zoning and a 2018 construction date define this Philadelphia property.
Property Size4,000 SF
Price / SF$375
Days on Market27
Property Features for 3607 SPRING GARDEN STREET
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Residential Income
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$2,136
Amenities
Central Air, Multi Units, Other, Electric
Electric, Other
Other
On Street, Other
Other, Traditional
Building Details
Building Size
4,000 SF
Year Built
2018
Listed By:
Mr. Saam Tashayyod
(215) 608-5745
Source:
Evrealestate
Added: Sep 26
Changed: Oct 21
Last Checked: Oct 20 at 8:25PM
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 Mr. Saam Tashayyod
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Investment Insights
Based on property information with market context.
This multifamily property contains 4,000 square feet and was built in 2018. Interior features include central air, multiple units, and electric service. The exterior is described as traditional, with on-street parking.
The property is located at 3607 Spring Garden Street in Philadelphia. Access directions lead from I-76 via Lancaster Avenue, North 36th Street, and Spring Garden Street. Zoning is RM1.
The property is located at 3607 Spring Garden Street in Philadelphia. Access directions lead from I-76 via Lancaster Avenue, North 36th Street, and Spring Garden Street. Zoning is RM1.
Key Highlights
- 4,000‑square‑foot multifamily property
- Built in 2018
- RM1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,918
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,360
$1.3M
Cap Rate 7%
$898,829
$898.8K
Cap Rate 9%
$699,089
$699.1K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$121.4K $30.36/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$114.4K $28.60/SF
− OpEx
−$51.5K −$12.87/SF
NOI
$62.9K $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%
$1,258,360
Cap Rate 7%
$898,829
Cap Rate 9%
$699,089
Alternative Uses
Best Use
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,918 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$975.1K
$853.3K – $1.14M
NOI $68,260 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - RM1 zoning and a 2018 construction date define this Philadelphia property.
Where is this multifamily property located?
The property is located at 3607 SPRING GARDEN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,000‑square‑foot multifamily property; Built in 2018; RM1 zoning
