If you are considering purchasing an investment property in Philadelphia you might be wondering what Philadelphia locations are the best for purchasing your first investment home. Check out these top up-and-coming neighborhoods in Philadelphia that are worth considering.
Promising Philadelphia Locations for Investment Properties
Strawberry Mansion
The Strawberry Mansion neighborhood is located in North Philadelphia on the east side of Fairmount Park. This area is undergoing great changes with help from the Neighborhood Transformation Initiative. An area with more affordable housing is a promising spot for investment opportunity.
Logan Square
Logan Square is always a popular spot to live and people are consistently looking for homes here because the location is convenient. This neighborhood is home to Philadelphia’s City Hall and The Barnes Foundation. The initial investment for a property is higher, but the area is always in demand making it easier to retain tenants.
Chesnut Hill
Chesnut Hill is an affluent neighborhood with high property values. It is known as Philadelphia’s Garden District. If an investor can afford to invest in a property here, this neighborhood is one of the most desirable to live in the city.
Port Richmond
Port Richmond is known for its deep Polish cultural roots. The neighborhood is undergoing revitalization and is gaining the attention of young professionals. The location on the shores of the Delaware River and the charming allure of a close-knit community vibe has helped garner attention and growth.
Olde Kensington
Olde Kensington has had new life breathed into it and an influx of millennial-aged buyers and renters. There are many old factories that have been converted to modern living spaces offering something funky and urban. The property values have increased and the area is gaining desirability. Olde Kensington is snuggly tucked between Fishtown and Northern Liberties.
Brewerytown
This may be one of the city’s most talked about neighborhoods. It is located in North Philadelphia on the shores of the Schuylkill River. This fun area of the city holds some interesting history with old brewery buildings turned into residential real estate. The location near Center City is also highly appealing.
Fishtown
Fishtown is located on the Delaware River and attracts the city’s young and artistic. Fishtown has seen a promising and steady increase in property values proving the growing appeal to the area. It is definitely one of the most promising areas to own investment property.
Great Reasons to Purchase Investment Property in Philadelphia
Philadelphia is a desirable place to be and that makes it a great place to own an investment property. Here are some of the reasons Philadelphia’s population is growing and people are searching for spots to rent
- Cultural Entertainment Offerings
- Collection of Differing Neighborhoods
- Historically Rich
- Affordable
- Location
- Ability to Connect to Other Major Northeast Cities
- Job Opportunities
- Walkable Locations
If you are ready to take the next step in becoming an investment property owner, the Victory Real Estate Team is here to help. We are a boutique real estate firm in Philadelphia with a close-knit team of highly experienced local Philadelphia real estate agents.
Victory Real Estate receives high ratings and a high number of five-star raving reviews. Check out this review of Janka Silvova of Victory Real Estate;
“We had 30 days to move with eminent domain, Janka took the time to work with us and our state relocation office, found us the perfect forever home, and helped us find the best lender. She was thorough, professional, and the best realtor we could have asked for. Thank Janka!”
Contact us any time for any greater Philadelphia real estate needs, both buying and selling primary and investment homes in the city and surrounding suburbs.