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As-Is CMX-2 Multifamily Property

5617 Spruce Street Philadelphia, PA 19139

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For Sale
$331,000

Three-level multifamily building zoned CMX-2, sold as-is and requiring renovation for renewed residential or mixed-use potential.

Type:Multi-Family
Property size:
1,700 SF
Price / SF:
$194.71/SF
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

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.

This as-is multifamily property is laid out across three levels and sold requiring renovation. The ground floor includes an apartment, a utility room, and a long corridor that extends to a large rear room that previously functioned as a studio apartment with a rooftop deck. This portion is partially finished and can be reconfigured based on the buyer’s plans, including options described as multiple bedroom arrangements or conversion toward retail with an additional efficiency-style apartment. At the back of the property, there is studio space identified as a former studio apartment that is ready for revival or redesign. The second floor provides two bedrooms, a living room, a bathroom, and a spacious eat-in kitchen with cabinetry, along with access to the rooftop deck above the studio.

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
1,700 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$414.4K
$362.6K – $483.5K (±1% cap)
NOI $29,010 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$382.0K
$334.3K – $445.7K (±1% cap)
NOI $26,740 @ 7.0% cap · market cap 8.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Law Firm Real Estate Agency Parking Lot & Garage Dental Office Skin Care Clinic Gym & Fitness Center Acupuncture Travel Agency Electrical Service HVAC Service

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Quadplex - Three-level multifamily building zoned CMX-2, sold as-is and requiring renovation for renewed residential or mixed-use potential.
Where is this quadplex located?
The property is located at 5617 Spruce Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $331,000.
What are key features of this property?
This property features: 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
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