1113-1115 Spruce St - Apartments FOR SALE


Philadelphia, PA 19107- Midtown Village
$338,224,000 USD
267-934-8345
1113-1115 Spruce St, Philadelphia, PA for Sale
$338,224,000 USD
Apartments - FOR SALE
1/9
null | 6% Cap Rate

1113-1115 Spruce St
Philadelphia, PA 19107
Midtown Village


HIGHLIGHTS

  • Prime Center City Location – Situated in the heart of Philadelphia’s bustling Center City, steps from iconic landmarks such as Independence Hall, City
  • Highly Walkable & Transit-Friendly – Surrounded by premier dining, shopping, and cultural destinations with excellent public transportation access.
  • 15-Unit Multifamily Property – Featuring a well-maintained, 7,950 SF building on a 3,542 SF lot, zoned CMX1, ideal for mixed-use potental.
  • Strong Income Potential – Offering a pro forma cap rate of 6.1% and gross rent multiplier of 13.06, with upside through improved rents and management.
  • Historic Charm with Modern Appeal – Built in 1899 and updated for today’s urban renter, combining classic architecture with high-demand location
  • Investment-Ready – Low operating expenses, reliable cash flow, and positioned in one of Philadelphia’s most desirable rental markets.

OVERVIEW

LOCATION DESCRIPTION Situated in the heart of Center City, the area offers a dynamic mix of historic charm and modern convenience. Within walking distance, professionals can explore iconic landmarks like the Liberty Bell, Independence Hall, and City Hall, while also enjoying renowned dining and retail destinations. A variety of public transportation options make commuting a breeze, connecting the area to the city's diverse business and cultural districts. With its rich history and bustling atmosphere, the location provides an inspiring backdrop for potential office building investors seeking a dynamic urban setting.

FOR SALE DETAILS

PRICE

$338,224,000 USD

PRICE/SF

$44,386 USD /SF

# OF UNITS

15

PRICE/UNIT

$22,548,267

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15 units multi-family

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1899

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

CMX1

APN/PARCEL ID

881007915

ASK ABOUT THIS PROPERTY

Tao YunAcre Real Estate Group LLCMore Info
267-934-8345

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Tao YunAcre Real Estate Group LLCMore Info
267-934-8345

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.