2318 Spruce Street

Welcome to 2318 Spruce Street, primely located in Fitler Square with easy access to Penn, Drexel, CHOP and HUP. This property offers 5 newly renovated and upgraded rental units on a 20’x 107’ lot— which includes 2 CAR PARKING.

The lobby and common areas have been completely renovated with new tile, wallpaper, light fixtures, moldings, paint, mailboxes and a new top-of-the-line intercom system. The basement level includes 5 private storage units (one per unit), a brand new washer and dryer, a large trash room and an additional flex space that could be rented out for larger storage items or could be converted into a bicycle room. The rear patio has been completely repaved and new stucco has been around the rear of the home. There is access through the rear patio/basement for the parking spaces so tenants with access to the parking do not have to walk around the building to enter. New recessed lighting has been installed throughout the building, and nearly every unit has brand new stainless steel appliances (the ones that aren’t brand new are in excellent working condition).

Unit 1F: 1 Bedroom, 1 Bath — (new kitchen, renovated bath)
Unit 1R: 1 Bedroom, 1 Bath + private outdoor patio (new bath, newly paved patio)
Unit 2F: 1 Bedroom, 1 Bath (new kitchen, renovated bath)
Unit 2R: 1 Bedroom, 2 Bath, Bi-level unit + fireplace (new kitchen, 2 new bathrooms)
Unit 3F: 2 Bedroom, 1 Bath, Bi-level unit w/ private W/D + Private Roof Deck (new bath, new roof + roof deck)

6% cap rate in a prime rental location. Don’t miss out on the chance to seize this opportunity while it lasts!