Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1900
Sq.Footage
N/A
Investor opportunity in the heart of Philadelphia’s storied Old City District—134 Chestnut Street is a stabilized, cash-flowing legal four-unit mixed-use building with CMX-3 zoning and multiple revenue paths. With 2,265 square feet of rentable space, this property checks all the boxes for a savvy buyer seeking long-term appreciation and immediate income. The ground floor is occupied by a successful Middle Eastern restaurant on a long-term lease with 7.5 years remaining, 5% annual rent escalations, and favorable terms—including the tenant covering 85% of real estate taxes and 100% of the water bill. This solid commercial anchor contributes to a projected cap rate of 8.2% and $92,400 in annual gross rent. Above, three residential units provide flexible rental strategies. One unit—currently non-conforming—is used by the owner and delivered vacant, making it ideal for short or mid-term rental conversion. The existing layout offers the option to update or reconfigure for maximum return, and the CMX-3 zoning allows for upward expansion or creative repositioning. Located in a prime section of Old City surrounded by historic charm, galleries, restaurants, and cultural landmarks, this address also benefits from strong tourism, transit access, and professional rental demand. Whether you continue operating as-is or explore Airbnb, mid-term rentals, or adding residential density—this building presents a rare blend of location, income, and flexibility.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.02
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Parking
None
Financial
-
Sales Price
$1,090,000
-
Tax Amount
7115.0
Schedule a Showing
Showing scheduled successfully.
Mortgage calculator
Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.
Your payment
Principal and Interest:
$
Property taxes:
$
HOA dues:
$
Total loan payment:
$
Total interest amount:
$
Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Richard K Cassell , KW Empower
RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.
Be the First to Know About New Listings!
Let us tell you when new listings hit the market matching your search. By creating a FREE account you can:
-
Get New Listing Alerts by Email
We will notify you when new listings hit the market that match your search criteria. Be the first to know of new listings!
-
Save searches
Save your favorite searches with specific areas, property types, price ranges and features.
-
Save Your Favorite Listings
Save an unlimited number of listings on our site for easy access when you come back. You can also email all of your saved listings at one time.
