5,895 SqFt
5,895 SqFt
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,895 sqft
Price per Sqft $356
MLS Listing ID PAPH2472694
Originating Board BRIGHT
Year Built 1900
Available Date 2025-04-25
Annual Tax Amount $19,592
Tax Year 2025
Lot Size 1,500 Sqft
Acres 0.03
Property Sub-Type Five Or More Units
Property Description
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.
Location
State PA
County Philadelphia
Area 19106 (19106)
Zoning CMX3
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Hardwood
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 888035668
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Virtual Tour https://www.dropbox.com/scl/fi/6aowgouua9jza16h9tay4/239-Race-St-UNBRANDED.mp4?rlkey=o88xjhwago2wpmuouo3p5pc9z&raw=1
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