Philadelphia, PA 19107,1221 SPRUCE ST
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Philadelphia, PA 19107,1221 SPRUCE ST
Philadelphia, PA 19107,1221 SPRUCE ST
Philadelphia, PA 19107,1221 SPRUCE ST
Philadelphia, PA 19107,1221 SPRUCE ST

$1,230,000

Est. payment /mo

$1,375,000

10.5%
Est.Price: ?

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1221 SPRUCE ST Philadelphia, PA 19107

3,295 SqFt

SOLD DATE : 11/15/2021

Key Details

Sold Price $1,230,000

Property Type Multi-Family

Sub Type Interior Row/Townhouse

Listing Status Sold

Purchase Type For Sale

Square Footage 3,295 sqft

Price per Sqft $373

Subdivision Washington Sq West

MLS Listing ID PAPH1020672

Sold Date 11/15/21

Style Other

HOA Y/N N

Abv Grd Liv Area 3,295

Originating Board BRIGHT

Annual Tax Amount $9,659

Tax Year 2021

Lot Size 1,804 Sqft

Acres 0.04

Lot Dimensions 20.20 x 89.30

Property Description

Excellent five unit apartment building available NOW for purchase in wonderful Washington Square West! This is an exceptional opportunity to buy a value add building in an A+ location. 1221 Spruce Street consists of five apartments, all of which are currently leased. With a monthly rent roll of $6,645 ($79,740 per year), rents are currently below market and can be easily increased with no major improvements. It is estimated that the rent roll can be increased to $7,615 per month ($91,380 per year) without major renovations. Further increases can be realized after renovating the building. The property has one gas hot heater (boiler), one gas hot water heater, one washer and dryer (coin-op machines) located in the basement for use by the Tenants. The Landlord currently pays for the heat and hot water and the cooking gas and cold water for all tenants. The Tenants pay for their own electricity usage. As the new owner, you can continue to operate it as an apartment building and with improvements, increase rents even more. There is also a condo-conversion opportunity here. The one thing that is certain is that the location is very good and very attractive to renters and owner occupants. For tours and more information, please contact the listing agent.

Location

State PA

County Philadelphia

Area 19107 (19107)

Zoning CMX1

Interior

Hot Water Natural Gas

Heating Radiator

Cooling None

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 881518500

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Christos Tzimoulis • New Age Realty Group Inc
Bought with Linda Cheng • Premium Realty Group Inc

Kerry O'Hara

Advisor | License ID: 651712

+1(410) 507-0834

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