1221 Spruce Street
1221 Spruce Street
$1,230,000
—
3,295
3,295
$373
Closed 11/15/21
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)...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.
- Listed by Christos Tzimoulis • New Age Realty Group IncP: 2153871002 chris@newagerealtygroup.com
Property Details for 1221 Spruce Street
Tax ID Number
881518500
OwnershipFee Simple
HOANo
Structure TypeInterior Row/Townhouse
StyleOther
WaterfrontNo
GarageNo
SubdivisionWASHINGTON SQ WEST
Location
LISTING UPDATED: 09/11/2022 02:52 PM
Property Details for 1221 Spruce Street
Status | Closed |
---|---|
MLS # | PAPH1020672 |
Days on Market | 129 |
Taxes | $9,659 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | - |
Lot Size | 0.04 AC / 1,804 SF |
County | Philadelphia County |
Building
Location
Building Information for 1221 Spruce Street
Stories3Residences-Year Built-Building Size-Lot Size0.04 AC / 1,804 SF
Payment Calculator
$7,518 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1221 Spruce Street
Property History for 1221 Spruce Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1221 Spruce Street
Taxable ValueLand$207,000Additions$483,000Total$690,000
Tax Record2023$9,659 ($805 / month)
Home Facts
Total Finished SqFt3,295 SqFtAbove Grade Finished SqFt3,295 SqFtStories3Lot Size1,804 SqFtStyleMulti-Family Res (5+ Units)Year Built1880ZoningCMX1CountyPHILADELPHIAAPN88-1-5185-00
Schools near 1221 Spruce Street
This home is within Philadelphia City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
McCall Gen George A School PublicK to 8 | ||
Franklin Benjamin High School Public9 to 12 | ||
Academy At Palumbo Public9 to 12 | ||
Creative And Performing Arts Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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