5617 Spruce Street Philadelphia, PA 19139
Three-level multifamily building zoned CMX-2, sold as-is and requiring renovation for renewed residential or mixed-use potential.
- Added:
- Oct 4, 2025
- Days on Market:
- 284
- Last Refresh:
- Jul 8 at 3:19 am
Property Features for 5617 Spruce Street
General Information
- Standard status
- Active
- Size
- 1,700 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1925
Listing office Blue Casa (856) 222-0077
Listing date Oct 4, 2025
Source Thetristaterealestategroup
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 Blue Casa
Investment Insights
Based on property information with market context.
The property is zoned CMX-2. The seller indicates they are unaware of any current violations. Buyer is responsible for obtaining the Use & Occupancy certificate and addressing any necessary repairs following inspection.
For buyers, this building offers a flexible starting point for value-add renovations and configuration changes within the CMX-2 zoning framework. Its existing residential layouts and rooftop-deck access can support redevelopment planning for a residential operator or a mixed-use approach, subject to buyer due diligence and required approvals.
Key Highlights
- Three‑level multifamily building (year built 1925) zoned CMX‑2
- As‑is sale requiring renovation; buyer responsible for obtaining the Use & Occupancy certificate
- Ground floor includes an apartment, utility room, and a long corridor to a rear room that previously served as a studio with a rooftop deck
Local 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 | $43.9k | $25.80 |
| − Vacancy | −$2.4k | −$1.42 |
| EGI | $41.4k | $24.38 |
| − OpEx | −$12.4k | −$7.31 |
| NOI | $29.0k | $17.06 |