Rental property on the Border of Dickinson Narrows and Pennsport

[Frank Robinson]

Looking at a buying a multifam rental property on the border of Dickinson Narrows and Pennsport, just north of Dickinson Square park. Any thoughts on that area (positive or negative)?

thank you

[Dan Powers]

@Frank Robinson Welcome to the market, the area is fantastic, especially if your able to find multis in that pocket. Now I will say inventory is limited, as finding multis throughout the city I compare to finding unicorns, but they do exist. You're getting wealth pushing down from Queen Village, with a combination of the popularity of Point Breeze. It's an extremely well established neighborhood, that will continue to appreciate.

Now the downsides of it are, the much higher price of entry compared to other parts of south philly (point breeze, grays ferry, girard estates), with that your rehab costs are also much higher due to the standards of the area. Also, the amount of inventory available. Being such a well established pocket, finding multis is going to be difficult because once people have them they never want to let them go. I give props to @David Vitarelli because he got a great assets that will certainly keep appreciating. 

I will say as long as your alright with paying up for the better area, and your comfortable with waiting for the right opportunity to come around then it will definitely be worth your while. I have move properties all over south philly and a few in the Dickinson Narrows. If you have any more questions certainly reach out so we can connect.

Dan Powers - Real Estate Agent