About 2029 Spruce St
Rarely available Fitler Square brownstone offering a blue chip long-term investment opportunity in one of Philadelphia's most desirable neighborhoods. Situated on a 19' x 96' lot, this seven-unit property consists of three one-bedroom apartments, three studios, and one two-bedroom apartment.
Most units have been updated over the past decade and feature separate split-zone electric heating and cooling. Tenants pay their own electric and cooking gas, while ownership is responsible for water, sewer, and gas hot water (Except Unit 1 with electric hot water heating - tenant responsible). Laundry is available in the building or in-unit.
Rent Roll:
1F: 2 Bed / 1 Bath – $2,575 (Lease Exp. 7/28/26)
1R: Studio / 1 Bath – $1,475 (Lease Exp. 6/27/27)
2F: 1 Bed / 1 Bath – $1,825 (Lease Exp. 6/27/27)
2R: Studio / 1 Bath – $1,575 (Lease Exp. 6/27/27)
3F: 1 Bed / 1 Bath – $1,995 (Lease Exp. 6/27/27)
3R: Studio / 1 Bath – $1,295 (Lease Exp. 6/27/27)
4: 1 Bed / 1 Bath – $1,645 (Lease Exp. 6/27/27)
Current annual operating expenses are approximately $30,261.54, resulting in a Net Operating Income (NOI) of approximately $118,358.46. See the documents section for more details.
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