5134 Spruce St, Philadelphia, PA 19139

Property Description

Well-positioned just off the growing 52nd Street Corridor and minutes from University City, this 5-unit property offers strong in-place income and excellent long-term upside in a high-demand rental market. With close proximity to UPenn, Drexel, and major hospitals, the area consistently attracts a deep tenant pool of students, healthcare workers, and professionals. The building features a versatile unit mix of one 3-bedroom and four 1-bedroom units, ideal for maximizing rental income and tenant flexibility. Rent projections (based on Philadelphia Housing Voucher Program rates) support a projected cap rate exceeding 14%! One unit is currently leased for immediate cash flow, while the remaining units offer value-add potential. The first-floor unit has been renovated with a modern kitchen, updated bath, new flooring, and fresh paint. Additional units feature spacious layouts, large windows, and strong natural light. Located just blocks from the Market-Frankford Line, with easy access to Center City, University City, and neighborhood amenities along Baltimore Avenue and Malcolm X Park, this location continues to benefit from ongoing development and steady rental demand. Situated within a Qualified Opportunity Zone, the potential future advantages are multifaceted. Ideal for investors seeking yield or house hackers looking to live in one unit while stabilizing the rest. Schedule your tour today and capitalize on this high-demand West Philadelphia location.