Six-Unit Apartment
For Sale
$900,000
4520 Spruce Street, Philadelphia, PA 19139
Six one-bedroom units in a Philadelphia apartment building near Drexel and University of Pennsylvania.
Property Size4,640 SF
Price / SF$193.97
Days on Market77
Property Features for 4520 Spruce Street
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 692-3107
Listed By:
Samantha Miller · License #RS352351
(215) 692-3107
Source:
Xome
Added: May 22
Changed: Jul 10
Last Checked: Aug 5 at 4:37AM
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
4520 Spruce Street is a six-unit apartment building offering six 1-bedroom units. The property is described as stabilized and income-producing, with an opportunity for value realization through light upgrades.
The asset is located at 4520 Spruce Street in Philadelphia, PA 19139, in the Powelton Village and Spruce Hill area. The property is noted as walkable to both Drexel University and the University of Pennsylvania.
From a tenant-fit standpoint, the surrounding market is presented as being supported by the University of Pennsylvania’s full-time student population of 23,948 and more than 39,000 individuals employed by the University of Pennsylvania. The broader area is also cited as having a population of more than 100,000 residents between the 19104 and 19139 zip codes. For buyers seeking a smaller, manageable multifamily asset within an established 18-unit portfolio context, 4520 Spruce Street can also be purchased as part of the full three-building offering, depending on investment strategy.
The asset is located at 4520 Spruce Street in Philadelphia, PA 19139, in the Powelton Village and Spruce Hill area. The property is noted as walkable to both Drexel University and the University of Pennsylvania.
From a tenant-fit standpoint, the surrounding market is presented as being supported by the University of Pennsylvania’s full-time student population of 23,948 and more than 39,000 individuals employed by the University of Pennsylvania. The broader area is also cited as having a population of more than 100,000 residents between the 19104 and 19139 zip codes. For buyers seeking a smaller, manageable multifamily asset within an established 18-unit portfolio context, 4520 Spruce Street can also be purchased as part of the full three-building offering, depending on investment strategy.
Key Highlights
- 18‑unit multifamily portfolio across three buildings in Powelton Village and Spruce Hill locations
- 4520 Spruce Street: 6 one‑bedroom units; offered at $900,000
- In‑place NOI of $53k and stated 7.3% cap rate
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 | $140.9k | $30.36 |
| − Vacancy | −$8.2k | −$1.76 |
| EGI | $132.7k | $28.60 |
| − OpEx | −$59.7k | −$12.87 |
| NOI | $73.0k | $15.73 |
4,640 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$912.3K – $1.22M
NOI $72,985 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.13M
$989.8K – $1.32M
NOI $79,181 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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?
Apartment building - Six one-bedroom units in a Philadelphia apartment building near Drexel and University of Pennsylvania.
Where is this apartment building located?
The property is located at 4520 Spruce Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 18‑unit multifamily portfolio across three buildings in Powelton Village and Spruce Hill locations; 4520 Spruce Street: 6 one‑bedroom units; offered at $900,000; In‑place NOI of $53k and stated 7.3% cap rate
