$230,000
$299,000
23.1%For more information regarding the value of a property, please contact us for a free consultation.
5036 SPRUCE ST Philadelphia, PA 19139
3,300 SqFt
Key Details
Sold Price $230,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $69
Subdivision Walnut Hill
MLS Listing ID PAPH2316190
Sold Date 05/06/24
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $5,392
Tax Year 2023
Lot Size 2,180 Sqft
Acres 0.05
Property Description
Here presented to you is an opportunity to acquire a value-add investment! The building is currently set up as 6 units in the heart of University City, an ideal prospective to add to your rental portfolio. Just minutes away from the University of Pennsylvania and Drexel University, this property offers a unique opportunity to tap into the thriving student rental market. This prime location serves as a magnet for students in search of convenient and comfortable housing. The building itself spans 3 floors including the basement and attic. 3,300 Sq/Ft above grade on a 2,180 Sq/Ft lot with a 20 Ft frontage! Each unit is currently set up as a studio and 4 out of the 6 units are occupied by non-paying tenants. Ripe for upgrading rents with renovation there is upside potential. You can increase the property value and enjoy the benefits of a wise investment. The seller makes no representation on zoning or rentability and has priced property to reflect current condition.
This property is located in close proximity to the bustling Baltimore Ave where you can find all types of shops and restaurants. For coffee enthusiasts you have ReAnimator coffee and Knock Box coffee located a short walk away. Some near by restaurants include Loco Pez, Abyssinia, Saads Halal and many more. There are also two parks in very close proximity which are Malcom X Memorial Park and Ben Barkan Park for those who enjoy the outdoors.
This location boasts a walk score of 89 indicating that most errands can be accomplished by foot. It scored a 75 for transit showing their are plenty of options for public transportation nearby. Lastly this property has a bike score of 95 which shows the neighborhood has a great bike infrastructure. The property is being sold "AS-IS" and the buyer must verify zoning.
Location
State PA
County Philadelphia
Area 19139 (19139)
Zoning RSA3
Interior
Hot Water Natural Gas
Heating Other
Cooling Other
Heat Source Other
Exterior
Water Access N
View Street
Accessibility Other
Garage N
Building
Lot Description Rear Yard
Sewer Public Septic
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 881215516
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Standard
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Bought with Maria Maria Quattrone Quattrone • RE/MAX @ HOME