Multi Family Real Estate in Philadelphia

[Atisha Fordyce]

I’ve been saving up to purchase a multi family home since before Covid hit the US. I’ve lived in New Jersey most of my life but decided on moving to Philly. I’m not very familiar with this city but I have been living here for 4 months now as I continue to get to know the area. I’ve already started the loan pre approval process and am set to sit down with a realtor. I’d love some advice from other Philly peeps on the best places to invest in multi family homes. I know that there are pockets of good and bad areas but where would you say the general direction of the “path to progress” is headed? I would greatly appreciate any feedback you all have! 😊

[Dan Powers]

@Atisha Fordyce Welcome to Philly! I would agree with @Rich O'Neill about the areas of West Philly, you can certainly find a duplex far below 250k that needs some work done to it, and will bring good appreciation in the long term.

I would also consider looking in Delaware County, specifically Drexel Hill. If your already making the move to Philly another 10 mins further won't hurt. I come across many duplexes over there that are nearly turn-key condition selling right around 190-200k. While it's a higher entry price compared to other areas in the city, the appreciation it's experiencing will make up for it in the long term. 

Hope this helped, reach out if you have any questions!

Dan Powers - Real Estate Agent