5134 Spruce St, Philadelphia, PA 19139

This 5-unit building offers a rare investment opportunity just steps from the rapidly developing 52nd Street Corridor. With a mix of one 3-bedroom unit and four 1-bedroom units, this property boasts significant rental income potential with an expected cap rate of over 10%. Rent projections are based on actual Philadelphia Housing Voucher Program rents. The first-floor unit has been renovated with a modern kitchen, updated bathroom, new flooring, and fresh paint throughout, making it a standout feature. The lower-level one-bedroom unit is currently leased, offering immediate cash flow, while the upper units have also been updated to include spacious layouts, large windows, and plenty of natural light. Located within the Philadelphia School District, this property is just a few blocks from the Market-Frankford Subway line, providing easy access to Center City, local shopping, and dining along Baltimore Avenue, and the vibrant community around Malcolm X Park. The seller’s favorite aspect … read more …