Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1900
Sq.Footage
N/A
John Jordan Historic Condominium Building – Mixed-Use 5-Unit Investment Opportunity in the Heart of Old City Welcome to 239 Race Street, part of the historic John Jordan Condominium Building, a rare mixed-use property located near the corner of 3rd and Race in the heart of Old City. This well-maintained, condo’d five-unit building includes five residential condominiums, a commercial office space, and an additional 735 sq ft of cellar storage — making it ideal for investors or owner-users seeking flexibility and long-term upside in one of Philadelphia’s most desirable neighborhoods. The total building square footage is approximately 5,895 sq ft. Residential units are a mix of 1- to 3-bedroom layouts, many occupied by long-term tenants, providing immediate income stability with significant potential for rent growth over time. The ground-floor commercial office makes this a true mixed-use asset, perfect for a professional looking to operate their business on-site or lease it out for additional income. Zoning: CMX-3 This highly desirable CMX-3 zoning may allow for additional development potential. Future owners have the opportunity to increase the building’s square footage by expanding existing units, adding more units, or pursuing a vertical or rear extension — maximizing the property’s value and income potential. Unit Breakdown: • Unit A: 1 Bed / 1 Bath | 780 sq ft | Est. Rent: $1,750/month • Unit B: 2 Bed / 1.5 Bath | 1,422 sq ft | Est. Rent: $2,200/month • Unit C: 3 Bed / 2 Bath | 1,272 sq ft | Est. Rent: $2,500/month • Unit D: 2 Bed / 1 Bath | 966 sq ft | Est. Rent: $1,800/month • Unit E: 1 Bed / 1 Bath + Den | 720 sq ft | Est. Rent: $2,135/month • Cellar Storage: 735 sq ft (value-add space) Recent upgrades include new HVAC systems and water heaters, a full roof replacement in 2023, and fresh exterior trim painting. With estimated annual taxes at $19,592 and a projected gross rent of over $10,000/month, this property offers reliable income with significant long-term growth opportunities. Located just a half-block from 3rd & Race and steps from the acclaimed Bridge on Race luxury building, 239 Race Street offers unbeatable walkability to top-tier restaurants, nightlife, public transit, and historic Philadelphia landmarks.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.03
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Parking
On Street
Financial
-
Sales Price
$2,100,000
-
Tax Amount
19592.0
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Location
County
PHILADELPHIA
Elementary School
Middle School
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Listing Courtesy of Moshe Adika , TCS Management, LLC
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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