Need advice - Turnkey opportunity in Philadelphia - 54th and Girard

[Account Closed]

Hi everybody,

I potentially have the opportunity to purchase a turnkey rental property in Philadelphia. The major cross streets are 54th and Girard. It's a fully-renovated duplex with monthly rent of $1,350, NOI of $955, and a purchase price of $107,000. I've not submitted any earnest money or anything yet. It's just a property they have available so I'm just doing my own research to see if it might be a good buy.

I've read numerous posts on this forum as well as other articles touting the "up and coming" status of Phily, but I'm concerned about crime and some of the neighborhoods. I'm most interested in hearing people's opinions who know this particular area. Would this be a potentially interesting deal to you given the area? Thanks in advance for the feedback!

[Paulette Midgette]

Hello @Account Closed stated , this is a rough neighborhood and not much development is taking place here.  This is certainly one of the poorer neighborhoods in the city...the time may not be right to buy here.   However, I do believe this will change because of its proximity to venues mentioned above that attract many visitors to the area and ease of public transportation to the city center.  There is a plan for every neighborhood in Philadelphia (see link below).  Take some time and do so deep research, talk to people who live/work/play in the city. 

http://planphilly.com/

I will be more than happy to be a resource for you.  I was born and raised in Philly.  I have worked, lived, played, and invested in just about every area in the city.  I will give you the good, bad, and ugly to allow you to make informed decisions.  May best advice, make sound and informed decisions.