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This historic property offers an exceptional investment opportunity in one of Philadelphia's most sought-after neighborhoods, Rittenhouse Square. Situated just steps from the park, 1725 Spruce St. features a mix of commercial and residential units, providing significant income potential. The building includes a vacant 1,100 sq. ft. commercial unit on the lower level with two half-bathrooms, a kitchenette, and outdoor access with a handicap rail and separate side-street entrance. This versatile space is ideal for various businesses and is a prime candidate for quick leasing in a high-demand area. The upper floors house six residential units, including two studios and four one-bedroom apartments, all currently leased. Unit #5 will become available at the end of February, providing an opportunity for new tenants or upgrades. Many tenants have been in place for years, ensuring stable rental income. Units are equipped with window air conditioning and heating units, and there's a coin-operated washer/dryer in the building for tenant use. The building also features a private mailbox area, intercom system, and a small roof deck in Unit #3. Located in the heart of Rittenhouse Square, this property offers unparalleled access to the park, fine dining, shopping, and cultural attractions. The building's historic charm, including a grand front door, adds character and appeal. While there are no parking spots included with the building, a nearby parking garage offers convenient rental options for residents. The property is being sold "as-is" and presents a rare opportunity to own a large building in a prime location. With minor updates, the rent potential is significant, and units consistently rent quickly in this desirable area. The asking price offers excellent value, especially considering comparable properties in the area have sold for over $800 per square foot. This is a unique chance to acquire a well-maintained property with long-term income potential in one of Philadelphia's most prestigious neighborhoods. No showings will be considered without proof of buyer qualification being sent to Jacky Damis
| DAYS ON MARKET | 1 | LAST UPDATED | 1/15/2025 |
|---|---|---|---|
| YEAR BUILT | 1890 | COMMUNITY | 19103 (19103) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 19103 (19103) |
| HEAT | Natural Gas |
| LOT | 2178 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 21456 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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