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21156864
21156865

42XX Spruce St, Philadelphia, PA 19104

MP
PA PA RS327662
Compass Pennsylvania
KW
PA RS332044
Compass Pennsylvania
Listed by Compass Pennsylvania
$3,325,000
5 days on market
Updated 5 days ago

17 Unit Multifamily Portfolio in University City

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,000
Net Rentable (SqFt) 11,000
Units 17
Cap Rate 6.46%
NOI $214,703
Occupancy 90%
Pro-Forma Cap Rate 7.01%
Pro-Forma NOI $233,150
Price per SqFt $302
Broker Co-Op Yes
Class B
Year Built 1900-1925
Year Renovated 2019-2020
Buildings 4
Stories 3
Lot Size (SqFt) 8,460
Zoning RSA5, RTA1, RM1
Investment Type Value Add
Occupancy Date 01/01/2025
Ownership Fee simple

University City Multifamily Portfolio

Marketing description

Light Value Add Multifamily Portfolio in Philadelphia’s Thriving University City – High-Demand Rental Market with Proven Cash Flow

Unlock immediate income and long-term appreciation potential with this 17-unit multifamily portfolio spanning four strategically located properties. Priced at $3,325,000 ($195,588/unit) and generating $282,288 in gross rental income with roughly $214,703 Net Operating Income (NOI) and $233,150 in projected NOI upon light value add upgrades, this offering delivers an exceptional combination of day 1 stability and long term upside in one of the city’s most dynamic and resilient rental markets.

Situated in the heart of University City, a nationally recognized center for education, healthcare, and innovation, the properties benefit from 78,000+ jobs and 50,000+ students, fueling robust, year-round rental demand. Just steps from world-renowned institutions like the University of Pennsylvania and Children’s Hospital of Philadelphia, residents enjoy unparalleled access to top-tier employers, transit options, and an unmatched urban lifestyle.

Top national economists have confirmed that Live, Work, Play neighborhoods represent the future of urban living, and no neighborhood in Philadelphia embodies this trend better than University City. With its walkability, transit connectivity, and vibrant mix of academic, cultural, and recreational amenities, this area stands out as a prime destination for growth and opportunity.

This transit-friendly, walkable neighborhood continues to attract investment and development, including the transformative $1 billion uCity Square project, further elevating its appeal and positioning it as a premier Live, Work, Play community.

Whether you're expanding your portfolio or entering the Philadelphia market, this offering delivers the stability of existing cash flow with upside potential in a neighborhood primed for continued appreciation.

Don’t miss this rare chance to invest in one of Philadelphia’s most sought-after rental markets.

Investment highlights

-Strong investment opportunity with stable income, potential for rent growth, and varied cap rates to suit different investment strategies

-This portfolio comprises 17 units across four properties, generating a current generating $282,288 in gross rental income with roughly $214,703 Net Operating Income (NOI) and $233,150 in projected NOI upon light value add upgrades.

-Properties range from smaller 2-unit buildings to larger 6-unit buildings, ensuring diversification and income stability

-Strategic location in the dynamic University City

-Strong economic drivers: Over $6 billion in ongoing institutional investments

-High demand fueled by robust student, medical, and professional tenant bases

-Exceptional infrastructure: Access to SEPTA, walkable neighborhoods, and proximity to Downtown Philadelphia

Listing Contacts

MP
PA PA RS327662
Compass Pennsylvania
KW
PA RS332044
Compass Pennsylvania
Listed by Compass Pennsylvania

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$214,703.00
$17,891.92/mo

Valuation Metrics

0
DSCR
6.46%
Cap Rate
6.46%
ROI

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Additional Information

Name
Michael Phillips
License
PA RS327662
Brokerage Address
1430 Walnut Street
Name
Kelly Widman
License
RS332044
Brokerage
Compass
Brokerage Phone
267.435.8015
Brokerage Address
1430 Walnut Street
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