Renovated Two-Unit Multifamily
For Sale
$1,150,000
4320 SPRUCE Street, Philadelphia, PA 19104
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size3,780 SF
Lot Size0.05 Acres
Price / SF$304.23
Days on Market148
Property Features for 4320 SPRUCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
SPRUCE HILL
High school
WEST PHILADELPHIA
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,780 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
19178
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Number of units
4
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
RE/MAX Access · RE/MAX International
(215) 400-2600
Listed By:
Michael D Fabrizio · License #RS321641
(609) 221-7123
Added: Mar 5
Changed: Jul 24
Last Checked: Jul 31 at 11:06AM
MLS# PAPH2590474
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit multifamily property contains two separate residential units, each designed with 4 bedrooms and 2 full bathrooms for a total of 8 bedrooms and 4 full bathrooms. The building is described as built on a solid stone and brick foundation and is recently renovated, with updates intended to improve day-to-day livability. The units are set up with spacious bedroom layouts, updated kitchens, and updated baths, supported by thoughtfully designed layouts that prioritize comfort and usability.
The property is located in Philadelphia’s University City area, positioned just steps from the University of Pennsylvania and Drexel University, and also close to Penn Medicine. The listing notes proximity to public transportation, restaurants and cafes, and other neighborhood amenities, supporting a tenant mix that may include students, faculty, medical professionals, and long-term renters.
For tenants, the arrangement of two independent 4-bedroom, 2-bath units can align well with group living needs while keeping each household’s spaces separate. For owner-occupants, the two-unit setup offers flexibility to live in one unit while renting the other. For investors, the property’s described configuration provides an opportunity to own a renovated, income-producing duplex-style asset in an area connected to major university and medical employment centers, subject to applicable local regulations.
The property is located in Philadelphia’s University City area, positioned just steps from the University of Pennsylvania and Drexel University, and also close to Penn Medicine. The listing notes proximity to public transportation, restaurants and cafes, and other neighborhood amenities, supporting a tenant mix that may include students, faculty, medical professionals, and long-term renters.
For tenants, the arrangement of two independent 4-bedroom, 2-bath units can align well with group living needs while keeping each household’s spaces separate. For owner-occupants, the two-unit setup offers flexibility to live in one unit while renting the other. For investors, the property’s described configuration provides an opportunity to own a renovated, income-producing duplex-style asset in an area connected to major university and medical employment centers, subject to applicable local regulations.
Key Highlights
- 2‑unit multifamily property with a total of 8 bedrooms and 4 full bathrooms
- Approximately 3,780 sq ft of living space, with each unit offering 4 bedrooms and 2 full bathrooms
- Recently renovated with updated kitchens and baths
Financial Insights For Multifamily LT 5
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 | $97.5k | $25.80 |
| − Vacancy | −$5.4k | −$1.42 |
| EGI | $92.2k | $24.38 |
| − OpEx | −$27.6k | −$7.31 |
| NOI | $64.5k | $17.06 |
3,780 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$921.5K
$806.3K – $1.08M
NOI $64,505 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$849.4K
$743.2K – $991.0K
NOI $59,458 @ 7.0% cap · market cap 5.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,419
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Recently renovated two-unit building offering 4-bedroom, 2-bath layouts in each unit for flexible rental or owner-occupant use.
Where is this duplex located?
The property is located at 4320 SPRUCE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 2‑unit multifamily property with a total of 8 bedrooms and 4 full bathrooms; Approximately 3,780 sq ft of living space, with each unit offering 4 bedrooms and 2 full bathrooms; Recently renovated with updated kitchens and baths
