Areas Around Philadelphia

[Ernest Wade]

Hello BP, I wanted some help with what some of the best zip codes and or Neighborhoods to invest in/around Philadelphia? Looking at a strategy to Brrrr or light rehab to rent out to long term tenants. Any advice would help Thanks

[Stuart Udis]

I would disagree with the push for 19121, particularly N 27th Street. City Council with the help of local RCO's enacted restrictive zoning overlays that impact this area. In some instances prohibitive zoning actually boosts property values. That normally occurs when the prohibitive zoning is geared towards preservation and open area.  Here the agenda behind the prohibitive zoning is anti-gentrification which is merely going to result in disinvestment because developers are restricted on design and density and will simply invest elsewhere. 

https://codelibrary.amlegal.com/codes/philadelphia/latest/ph...

Beyond the lousy local policies that were enacted, the "gentrifiers" who are moving to the area will want to be in the housing closer to Fairmount Park and N 27th street is too far north or far west to attract Temple students. Basically the area lacks the fundamentals you should be focused on as an investor.  For the money you will pay to invest on the 1600 block of N 27th street, you are better off buying in Germantown/East Mount Airy where the fundamentals are better or spending more to be in a better neighborhood.