Hello! I am looking to buy my first property in Philadelphia. The neighborhoods I am focused on currently are Fishtown, Northern Liberties, East kensignton and West kensington (Norris Square Park).
I would love suggestions of any neighborhoods where I can see a nice return. I was also interested in Breweytown but I am getting mixed signals about that area. Any input would be appreciated. Thanks!
Wholesaler · Philadelphia · Member since 2020 · 45 posts · 72 votes
5y
The price of entry in the neighborhoods you mentioned is going to be extremely high. I specialize in sourcing fixer uppers for landlords and flippers and I can tell you from first-hand experience inventory is very low, and as a result, very expensive in these pockets. You will pay a very high premium even for a small rental grade property. While certainly not as gentrified yet, Brewerytown is definitely a much cheaper entry point and I think will ultimately follow a similar trajectory given its already strong commercial corridor.