202-280-2722
1321-1323 Spruce St, Philadelphia, PA for Sale
Apartments - FOR SALE
1/11
null | Request Cap Rate

1321-1323 Spruce St
Philadelphia, PA 19107
Avenue Of The Arts South


HIGHLIGHTS

  • Located in Midtown Village with a 99 Walk Score
  • Up to $1,700 rent upside per renovated unit
  • Diverse unit mix ideal for Center City renters
  • Steps from CBD, universities, and cultural landmarks
  • Value-add potential through luxury renovations
  • Legacy asset from long-term ownership

OVERVIEW

Located in the heart of Midtown Village, The Burlington House offers investors a rare chance to acquire a legacy multifamily asset in one of Philadelphia’s most vibrant and walkable neighborhoods. This 50-unit midrise apartment building, originally constructed in 1925, is poised for a full repositioning that could unlock significant rental upside. With current rents trailing market comparables by up to $1,700 for renovated two-bedroom units, the property presents a compelling value-add opportunity through a luxury renovation program. The unit mix—comprising 26 one-bedrooms, 12 two-bedrooms, 11 studios, and a single three-bedroom—caters to a broad spectrum of renter demand in Center City. The building’s location offers unmatched connectivity to Philadelphia’s Central Business District, major universities, hospitals, and cultural landmarks including Independence Hall, the Liberty Bell, and the Kimmel Center. Residents benefit from proximity to Trader Joe’s, Whole Foods, Sprouts Farmers Market, and the Fashion District, as well as seamless access to transit and employment hubs. An investor can reposition The Burlington House into a trophy asset by modernizing kitchens and bathrooms, installing in-unit washers/dryers and air conditioning, and enhancing common areas. The property’s walk score of 99 underscores its appeal to urban renters seeking convenience and lifestyle. With long-term ownership and a strong economic infrastructure surrounding the asset, The Burlington House is a generational opportunity to redefine a classic Philadelphia building.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

50

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Burlington House Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,079 SF

ZONING

CMX5

APN/PARCEL ID

881014000

ASK ABOUT THIS PROPERTY

Kyle TangneyGreysteel HoldingsMore Info
202-280-2722

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Kyle TangneyGreysteel HoldingsMore Info
202-280-2722

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