239 RACE ST Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19106
Key Details
Property Type Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 5,895 sqft
Price per Sqft $356
MLS Listing ID PAPH2476604
Style Unit/Flat,Traditional,Colonial
Year Built 1900
Annual Tax Amount $19,592
Tax Year 2025
Lot Size 1,306 Sqft
Property Sub-Type Interior Row/Townhouse
Property Description
John Jordan Historic Condominium Building – Mixed-Use 5-Unit Investment Opportunity in the Heart of Old City
Welcome to 239 Race Street, part of the historic John Jordan Condominium Building, a rare mixed-use property located near the corner of 3rd and Race in the heart of Old City. This well-maintained, condo'd five-unit building includes five residential condominiums, 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 occupied by long-term tenants, providing immediate income stability with significant potential for rent growth over time. The ground-floor commercial office makes this a true mixed-use asset, perfect for a professional looking to operate their business on-site or lease it out for additional income.
Zoning: CMX-3
This highly desirable CMX-3 zoning may allow for additional development potential. Future owners have the opportunity to increase the building's square footage by expanding existing units, adding more units, or pursuing a vertical or rear extension — maximizing the property's value and income potential.
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 (value-add space)
Recent upgrades include new HVAC systems and water heaters, 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 offers reliable income with significant long-term growth opportunities.
Located just a half-block from 3rd & Race and steps from the acclaimed Bridge on Race luxury building, 239 Race Street offers unbeatable walkability to top-tier restaurants, nightlife, public transit, and historic Philadelphia landmarks.
Location
State PA
County Philadelphia
Area 19106 (19106)
Zoning CMX3
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Hardwood
Exterior
Water Access N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard
Virtual Tour https://www.dropbox.com/scl/fi/6aowgouua9jza16h9tay4/239-Race-St-UNBRANDED.mp4?rlkey=o88xjhwago2wpmuouo3p5pc9z&raw=1