4441 SPRUCE ST

Philadelphia, PA 19104

The zoning for this 3060 s.f. late Victorian townhouse in the Spruce Hill neighborhood of University City, West Philly, permits the rental of 5 bedrooms as rooming units. The 5 short-term leases in place right now (sellers have moved out) provide $5050/month in rental income, and there's plenty of potential for raising the rates. New landlords not planning to live at the property can continue to rent to no more than 5 people. Or if they plan to be owner-occupants, they can live in the private main bedroom suite and rent up to four bedrooms, providing a hefty income to help pay their mortgage – an especially appealing option at today’s higher interest rates. New owner-occupants can also choose to keep the whole house for themselves as leases finish up; the first lease ends on 10/31/2023.The property has SO many amazing features. The gorgeous c. 1904 house details are all intact – leaded glass, the handsome staircase, hardwood flooring with decorative borders, fireplace mantles, a tiled entryway, deep armoires, unpainted woodwork and even a clawfooted tub. There are 7 upstairs rooms which can be bedrooms, family rooms, work-at-home offices, a private main bedroom suite – you name it. There’s a deep, partially finished basement, an enclosed front porch and a good-sized back yard with alley access – great for bringing your bikes in. The current owners have spent 19 years restoring & upgrading the property – including the removal of all knob & tube wiring, a daunting & expensive project that the buyers of this house won’t have to undertake. The 45th & Spruce location is in the catchment area* for the well-regarded Penn Alexander K-8 public grade school which is just 2 blocks away. Hungry? Don Barriga Mexican Grill is next door; several Middle Eastern eateries are around the corner at 45th & Walnut; Knockbox coffee shop is at 45th & Pine, and Local 44 Restaurant & Bar, with craft beers on tap and a bottle shop, is at the corner of 44th & Spruce. There’s a bus route out front to take you to center city. Or you can head over to Baltimore Ave. for more restaurant possibilities or a 13-minute trolley ride to the very heart of center city Philadelphia, stopping at UPenn & Drexel U along the way.(*catchment area location doesn’t guarantee admittance)