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34th and Spring Garden Street 3423-3427 Spring Garden St 3 Unit Apartment Building $2,468,280 CAD ($822,760 CAD/Unit) 6% Cap Rate Philadelphia, PA 19104
Executive Summary
A high-visibility corner asset featuring 9 units and 27 beds. This property is a "Smart-Ready" building with USB charging ports and high-speed Wi-Fi integration already in place.
Situated at the intersection of 34th & Spring Garden, this 3-story asset includes 9 large 3BR/3BA units. Building features include 24-hour video monitoring and an on-site shuttle service to campus. Its location is a "Walker’s Paradise" (89 Score) within the core Drexel residential pocket.
University City is recognized as a regional leader in science and innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality.
University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences.
With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.
Situated at the intersection of 34th & Spring Garden, this 3-story asset includes 9 large 3BR/3BA units. Building features include 24-hour video monitoring and an on-site shuttle service to campus. Its location is a "Walker’s Paradise" (89 Score) within the core Drexel residential pocket.
University City is recognized as a regional leader in science and innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality.
University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences.
With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.
Property Facts
| Price | $2,468,280 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $822,760 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 6% | Building Size | 8,544 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2014 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM1 | ||
| Price | $2,468,280 CAD |
| Price Per Unit | $822,760 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 8,544 SF |
| No. Stories | 3 |
| Year Built | 2014 |
| Opportunity Zone |
Yes |
| Zoning | RM1 |
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Exceptionally walkable
90/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 881108174 | Improvements Assessment | $2,414,812 CAD |
| Land Assessment | $1,034,919 CAD | Total Assessment | $3,449,731 CAD |
Property Taxes
Parcel Number
881108174
Land Assessment
$1,034,919 CAD
Improvements Assessment
$2,414,812 CAD
Total Assessment
$3,449,731 CAD
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34th and Spring Garden Street | 3423-3427 Spring Garden St
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