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239 Race Street - Mixed-Use 5-Unit Investment Opportunity in the Heart of Old City Welcome to 239 Race Street, a rare mixed-use property located near the corner of 3rd and Race in the heart of Old City. This well-maintained five-unit building includes four residential units, 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 of which are occupied by long-term tenants, providing immediate stability with significant potential for rent growth over time. The ground-floor commercial office makes this a true mixed-use asset, suitable for a professional looking to operate their business on-site or lease it out for additional income. 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 (additional value-add space) Recent building upgrades include all HVAC systems and water heaters being replaced within the last few years, 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 is well-positioned for steady income and future appreciation. Located just a half-block from 3rd & Race and steps from the acclaimed Bridge on Race luxury building, 239 Race offers unbeatable walkability to restaurants, nightlife, public transit, and historic Philadelphia landmarks.
| DAYS ON MARKET | 7 | LAST UPDATED | 4/29/2025 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | 19106 (19106) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | THE SCHOOL DISTRICT OF PHILADELPHIA |
|---|
| PRICE HISTORY | |
| Prior to Apr 29, '25 | $2,000,000 |
|---|---|
| Apr 29, '25 - Today | $2,100,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | 19106 (19106) |
| HEAT | Forced Air, Natural Gas |
| LOT | 1307 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 19592 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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