Philadelphia, PA · Member since 2016 · 86 posts · 21 votes
Hey BP'ers - I'm hoping to purchase a duplex or quad in the coming year. From your experience, which areas in Philadelphia (or the outskirts) are the best to look into and which areas should I steer clear of?
Downingtown, PA · Member since 2015 · 1k+ posts · 101 votes
9y
Hey @Fatima Champagne If you are looking to purchase outside of Philly in Delco or Montco there are a lot of good areas. In Delco I would stay away from Darby, some parts of Upper Darby and Chester. Although they would be really good cash flowing areas, the tenant mix and the overall security of those areas is poor. Sharon Hill, Glenolden, Clifton Heights, Aldan, Lansdowne, Ridley, Prospect Park, Collingdale, Folcroft, Norwood Yeadon and Brookhaven are all affordable and have good cash flow. The thing you have to watch in Delco is the taxes because they are generally higher than most counties around.
In Montco you I would stay away from parts of Norristown but other areas there are decent. Ambler, Abington, Springfield, North Wales, Cheltenham, Bridgeport and Conshohocken are all nice areas too.
Downingtown, PA · Member since 2015 · 1k+ posts · 101 votes
9y
Hey @Fatima Champagne If you are looking to purchase outside of Philly in Delco or Montco there are a lot of good areas. In Delco I would stay away from Darby, some parts of Upper Darby and Chester. Although they would be really good cash flowing areas, the tenant mix and the overall security of those areas is poor. Sharon Hill, Glenolden, Clifton Heights, Aldan, Lansdowne, Ridley, Prospect Park, Collingdale, Folcroft, Norwood Yeadon and Brookhaven are all affordable and have good cash flow. The thing you have to watch in Delco is the taxes because they are generally higher than most counties around.
In Montco you I would stay away from parts of Norristown but other areas there are decent. Ambler, Abington, Springfield, North Wales, Cheltenham, Bridgeport and Conshohocken are all nice areas too.
Real Estate Agent · Philadelphia, PA · Member since 2015 · 180 posts · 69 votes
9y
@Fatima Champagne A lot of different neighborhoods offer multifamily homes, it just depends on your budget, safety concerns etc. Keep in mind that a lot of areas are very block by block.
Philadelphia, PA · Member since 2016 · 101 posts · 35 votes
9y
Lofty question Fatima. Philly is a huge city with a vast amount of opportunity.
I think you would benefit by doing research on how much you would like to spend, and how look into different neighborhoods to see what you can for that price in each neighborhoods. It's at least a start to see what is out there and get a better understanding of the city.
It was definitely a very broad question, but as a first time home buyer I'm hoping to get a bit of guidance on areas to start with and possible areas to avoid. And yes, I'll definitely have to solidify my budget and see what properties fall under it. Any advice on where to apply for a FHA loan?
Philadelphia, PA · Member since 2016 · 86 posts · 21 votes
9y
Thank you for your feedback @Shawn Connors. I was told to look at places where public transportation is accessible, as this would open up my renter numbers. Would you agree?
Real Estate Agent · Philadelphia, PA · Member since 2013 · 167 posts · 64 votes
9y
Just posted on the Marketplace a triplex/mixed use property that my office has listed for sale in Roxborough on Ridge Ave. It's in good shape and is turnkey.
Let me know if you would want more information about the property; it would most likely be cash flow positive once fully leased.
Investor · Staten Island, NY · Member since 2015 · 64 posts · 9 votes
9y
@Zachary Paul pls if possible supply the numbers on the property i might be interested i have 3 rental units 2 in ia my jewel in brooklyn ny and always on the look and i would like to buy closer to home which is in staten island,ny