Hey BP Nation I'm looking to invest in the Philly area and I would like opinions on the best neighborhoods to invest in. Looking for single to 3-fam units in the 75-125K range, C+ to B- (low income ok but NO WARZONE). Preferably in or close to up-and-coming areas. Willing to BRRRR if necessary. Any thoughts from people who live and/or invest in Philly?
Anthony- for that price range, you are likely looking in the outskirts of center city. I just invested in something in the Overbrook neighborhood - if you want to go north I have heard of some decent cash flow in Lawn Crest. Something closer to CC such as Point Breeze or University City would be good, but would be more expensive.
@Joshua Truppo hit the nail on the head. If you're looking for turnkey you will probably have to move out of the city, maybe into a more suburban area. If you are looking for a triplex, expect to pay a little more, because we are all looking for triplexes in B neighborhoods. If you are willing to put a little more effort and rehab a property, you might be able to be a decent area, but then you have to account for the rehab cost
Found a really nice single fam in Mount Airy. I'll definitely check out those other areas going forward. Thanks!
@Anthony Boreland you can buy SFH and MFH, most need some work if not moderate rehab in west passyunk triangle area. I just bought there and am doing rehab now. It's a diverse neighborhood, more restaurants are opening up and hipsters are already moved in lol. It's the area between Snyder Ave to Oregon Ave between 18-24th street (give or take). When you look on google maps you'll see a literal "triangle" of the main streets. That's the sweet spot. Some streets are tree lined and the closer to Oregon Ave you go that area is girard estates. Your value will be in purchasing a property on or near Snyder Ave. PM me if you have questions
@Mike B. Thanks! I will definitely check out that area
@Anthony Boreland if you are looking for around the city "up and coming" that are c to b neighborhoods i'd suggest, brewery-town (north west part of city), Old Kensington/ Port Richmond area is seeing a lot of money put into it. Another area that might be good to look into is Overbook area, that has all Saint Joseph students if they are not living in Manayunk. Overbrook is family friendly the most part, the rest you the area are in the C range, but i wouldn't say they are War Zones either just lot of investment is going there currently.
There is a triplex around the corner from my house on the market i just saw a few days ago im looking more into commercial so im not that interested but i think its in your price range neighborhood is not that bad either
Pm me i dont know if you want it public or not
@Shay Allen Is that property still available? PM me please, thanks
I would be interested in the triplex as well. PM me if still available. Thanks!
@Shay Allen I am interested in triplex as well. please pm me. Thank you
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