THE STANDARD

05-12-2022
05-13-2022

4311 Spruce St, Philadelphia, PA 19104

  • Excellent Unit Mix 

    Studio, 1-Bedroom and 2-Bedroom Options

  • Recently Renovated 

    Buildings Recently Underwent Modern Updates

  • Unique and Desirable Location 

    Spruce Hill Neighborhood is One of the Most Sought-After 

    Neighborhoods throughout Philadelphia

  • Easily Accessible 

    Convenient Access to 30th Street Station for AMTRAK and SEPTA as well as Interstates 76, 476 and 95

  • World Class Universities and Medical Facilities 

    UPenn, Drexel, USciences, Penn Medicine & CHOP

Property Description

The Standard (4311 and 4317 Spruce Street) is comprised of 79 newly-renovated apartment units in the University City neighborhood of Philadelphia. The Properties are “student friendly market rate” assets boasting recently renovated finishes including stainless steel appliances, stone countertops, hardwood flooring, and upgraded cabinetry. Furthermore, the units in 4317 Spruce feature in-unit washer and dryer and central HVAC, a significant amenity allowing new ownership to push rents.

Tenants are within walking distance of The University of Pennsylvania and Drexel University, and the rapidly expanding UCity Science Center. Both are on the cutting edge of business, technology, and science, both nationally and internationally. The Properties are located minutes from major thorofares such as Route-1, I-95, I-76, and I-676, providing unparalleled access to the Philadelphia MSA. A major train station at 40th and Market Street sits blocks away carrying commuters into Center City and the Philadelphia Suburbs via the SETPA Market-Frankford Trainline.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 15,550,000
No. of Units
79
Cap Rate
5.5%
Year Built
1930
Building Size
42,000 Sq ft
Lot Size
19,166.4 Sq ft
No. of Stories
2
Opportunity Zone
Off
Price per unit
$ 196,835
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