Up and coming areas in West Philly

**huckjr** · 07-25-2012, 01:43 AM

I'm looking to invest in rental properties in West Philly among other areas and philly and was wondering what exact areas are looking to turn the corner either now or shortly. I imagine some areas will definitely get a shot in the arm once amtrak unveils its 37min to NYC train. Any help is appreciated all.

**MarketStEl** · 07-25-2012, 01:57 AM

Don't bank on that new HSR line as a catalyst for West Philly redevelopment.

One, if built, it will run via Market East Station;

two, the chances of it being built as proposed are slim for the foreseeable future.

**huckjr** · 07-25-2012, 02:01 AM

Sandy I figured it would be ran through 30th street station. Anywho HSR aside, do you know of any up and coming areas in West Philly? Nice blog BTW!!

**MarketStEl** · 07-25-2012, 02:07 AM

Thanks! Tell your friends.

Well, the zone of gentrification has generally traveled slowly southwest from the Penn campus. Around 50th and Baltimore is an area I'd look at, but I'm not sure you'll find that many investment rental properties there. Walnut Hill (~46th to 52d, Market to Pine) is pretty stable and may have properties you might like. I don't know if I'd classify it as "turning the corner shortly," however.

**huckjr** · 07-25-2012, 02:17 AM

Originally Posted by MarketStEl

Thanks! Tell your friends.

Well, the zone of gentrification has generally traveled slowly southwest from the Penn campus. Around 50th and Baltimore is an area I'd look at, but I'm not sure you'll find that many investment rental properties there. Walnut Hill (~46th to 52d, Market to Pine) is pretty stable and may have properties you might like. I don't know if I'd classify it as "turning the corner shortly," however.

Cool thx a ton!

**phrequency** · 07-25-2012, 07:54 AM

The south side is definitely on the fast track but one other area is the north west around drexel/mantua. There are lots of properties being reno'd in Mantua these days but it's still going to take a while. Take a look at Drexels plans for expansion and off-campus housing and you will see there is nowhere to go but Lancaster Ave/Mantua area. The area already has Powelton village going for it and mantua is such a little isolated pocket I don't see how it can't become encompassed in gentrification in the future. I've also seen some really sweet tiny little properties that would be so easy to snatch up and renovate.

**seand** · 07-25-2012, 09:34 AM

Mantua is probably the best physically situated yet still pretty beat down neighborhood in the city.

**phrequency** · 07-25-2012, 12:00 PM

I know it's true. But hopefully with drexels plan and some renewed interest in the area things will start to change. The PEC is also doing some great things for the area so there is hope.

**Sharkfood** · 07-25-2012, 01:34 PM

If I were buying in West Philly, I'd look at Mantua/West Powelton.

Not 50th & Baltimore. 50th & Baltimore is not a bad area, but it's not where I see upside potential.

**seand** · 07-25-2012, 01:42 PM

Originally Posted by Sharkfood

If I were buying in West Philly, I'd look at Mantua/West Powelton.

Not 50th & Baltimore. 50th & Baltimore is not a bad area, but it's not where I see upside potential.

It looks like crap right now at 50th and Baltimore with the SEPTA tearing up the street but its hard to see with Apple Lofts in the works (if they ever begin construction) and a lot of the worst dead storefronts on the 5000 block changing hands very recently how there isn't something of an upswing. Literally, there could be like 4 new businesses on that block by this time next year.

**Brian616** · 07-25-2012, 04:44 PM

Originally Posted by seand

Mantua is probably the best physically situated yet still pretty beat down neighborhood in the city.

Worse than Point Breeze? Honest question, although Mantua's better transit options may push it over the top.

**huckjr** · 07-25-2012, 05:26 PM

Thank you all for the awesome feedback!!

**phillydeveloper** · 07-25-2012, 08:39 PM

I'm also investing in west and my money is closer to 50th and Baltimore so you know my vote.

**huckjr** · 07-25-2012, 09:44 PM

Originally Posted by phillydeveloper

I'm also investing in west and my money is closer to 50th and Baltimore so you know my vote.

Oh ok cool thx! Now I'm going to continue my search.!!

**walnuthill** · 07-26-2012, 06:24 AM

Gotta plug my neighborhood. There are beautiful homes around here and lots of duplexes/triplexes screaming to have their cheap siding torn off and their character restored. Prices are hovering around $150-250k for most places, so it's quite affordable. Lots of folks buying up property here because they can't afford prices further south.

**the mule** · 07-26-2012, 04:58 PM

Originally Posted by Brian616

Worse than Point Breeze? Honest question, although Mantua's better transit options may push it over the top.

Definitely worse than Point Breeze. Mantua is seeing some development pressure but it's mostly driven by affordable housing and Drexel student housing, neither of which are likely to drive housing prices up enough to attract a lot of private investment in the near future, whereas PB development is being driven almost entirely by development of for-sale single family homes.

Mantua has terrific proximity to Center City, easy access to 76 & 676, is a stone's throw from Fairmount Park, and borders a stable, high value neighborhood, but blight & vacancy abounds and the pace of development isn't moving too terribly quickly yet.

Point Breeze on the other hand also has plenty of blight but is just as convenient to Center City, bordered on the north, east, and south by stable, high value neighborhoods, and to the northwest is close enough to CHOP and Penn to benefit from investment from their employees.

**Ptolemy** · 07-27-2012, 03:09 AM

The area that is not YET gentrified that I like is West Powelton Village. Very pretty and tidy neighborhood. Look around Penn Presby Hospital.

There are a few blocks just west of USP and southwest of Clark Park are worth looking into. I am talking about Woodland Ave. near the lumber yard. This is the disputed area that straddles "West Philly/University City" and "South West Philly."

**boognish** · 07-27-2012, 10:02 AM

Originally Posted by the mule

Definitely worse than Point Breeze. Mantua is seeing some development pressure but it's mostly driven by affordable housing and Drexel student housing, neither of which are likely to drive housing prices up enough to attract a lot of private investment in the near future, whereas PB development is being driven almost entirely by development of for-sale single family homes.

Mantua has terrific proximity to Center City, easy access to 76 & 676, is a stone's throw from Fairmount Park, and borders a stable, high value neighborhood, but blight & vacancy abounds and the pace of development isn't moving too terribly quickly yet.

Point Breeze on the other hand also has plenty of blight but is just as convenient to Center City, bordered on the north, east, and south by stable, high value neighborhoods, and to the northwest is close enough to CHOP and Penn to benefit from investment from their employees.

There are some HUGE developments going into Mantua in the next few years including a grocery store. I think in 5-10, it's going to go boom.

**seand** · 07-27-2012, 03:29 PM

RE: PB vs. Mantua

Not only is there no moratorium on roof decks but a roof deck in Mantua has one of the best views of the skyline in the city.

**walnuthill** · 07-27-2012, 05:06 PM

Originally Posted by Ptolemy

There are a few blocks just west of USP and southwest of Clark Park are worth looking into. I am talking about Woodland Ave. near the lumber yard. This is the disputed area that straddles "West Philly/University City" and "South West Philly."

Word has it that some new neighbors have had a very tough time in that little area due to "entrenched criminal activity." A cop told me that older residents are upset that USP students are moving in and thus USP bike patrol is also moving in and calling the real cops about drug activity. But I'm sure some folks have had good experiences, too.