Renovated Triplex with In-Unit
For Sale
$795,000
5039 Spruce Street, Philadelphia, PA 19139
Three updated apartments offer stainless-steel kitchens, quartz counters, and in-unit laundry appliances.
Property Size4,500 SF
Price / SF$176.67
Days on Market162
Property Features for 5039 Spruce Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA3
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,687
Amenities
stainless steel appliances
quartz countertops
recessed lighting
in-unit washer and dryer
No Pool
Above Grade
Building Details
Year Built
1925
Buildings
1
Listing Agency:
United Real Estate
(215) 251-1223
Listed By:
Adriona Jenkins · License #RS344207
(215) 251-1223
Source:
Compass
Added: Mar 22
Changed: Aug 29
Last Checked: Aug 29 at 5:14PM
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 United Real Estate
Investment Insights
Based on property information with market context.
This 4,500-square-foot triplex, built in 1925, contains three renovated apartments: two two-bedroom, two-bathroom units and one three-bedroom, two-bathroom unit. Each residence includes an updated kitchen with stainless-steel appliances and quartz countertops, recessed lighting, and an in-unit washer and dryer. The property is zoned RSA3 and is located at 5039 Spruce Street in Philadelphia’s 19139 area.
The building is situated near the University of Pennsylvania, Drexel University, and Children’s Hospital of Philadelphia. Access to I-76, I-676, and 30th Street Station supports regional and city commuting, while nearby shops, cafés, and restaurants add neighborhood amenities.
The building is situated near the University of Pennsylvania, Drexel University, and Children’s Hospital of Philadelphia. Access to I-76, I-676, and 30th Street Station supports regional and city commuting, while nearby shops, cafés, and restaurants add neighborhood amenities.
Key Highlights
- Three‑unit configuration with two 2‑bedroom, 2‑bathroom apartments and one 3‑bedroom, 2‑bathroom apartment
- 4,500 SF triplex built in 1925
- Renovated kitchens with stainless‑steel appliances and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,783
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,660
$1.4M
Cap Rate 7%
$1,011,186
$1.0M
Cap Rate 9%
$786,478
$786.5K
Market Conditions
NOI Build-Up for 4,500 SF
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.
Gross rent
$136.6K $30.36/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$128.7K $28.60/SF
− OpEx
−$57.9K −$12.87/SF
NOI
$70.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,660
Cap Rate 7%
$1,011,186
Cap Rate 9%
$786,478
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$959.9K – $1.28M
NOI $76,792 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$1.01M
$884.8K – $1.18M
NOI $70,783 @ 7.0% cap · market cap 8.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,608
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?
Triplex - Three updated apartments offer stainless-steel kitchens, quartz counters, and in-unit laundry appliances.
Where is this triplex located?
The property is located at 5039 Spruce Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom, 2‑bathroom apartments and one 3‑bedroom, 2‑bathroom apartment; 4,500 SF triplex built in 1925; Renovated kitchens with stainless‑steel appliances and quartz countertops
