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Aimee Alexander
Steven Everett

3847 Terrace St

$579,900 3847 Terrace St, Philadelphia, PA 19128
Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphia's most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business. The first-floor retail space, previously a successful restaurant tavern, comes with a commercial kitchen space and hood system, walk-in cooler, bar layout and seating for 40-60 patrons. The property comes with the potential to acquire a liquor license, which will be sold separately from the property itself. This license allows for full-service alcohol service, including outdoor seating, offering tremendous flexibility for a bar or restaurant business. The CMX1 zoning permits additional uses including a deli/grocery store, daycare facility, boutique, financial services, pet store, or medical practice. Above the retail space, there are two newly renovated 1-bedroom apartments on the 2nd and 3rd floors, each featuring modern updates including new flooring, stainless steel appliances, a washer and dryer in each unit and stylish new bathrooms. Located in a high-demand, thriving neighborhood, this mixed-use property is an excellent investment with great potential for both rental income and business ventures.
  • For Sale
    Status
  • 2
    Bedrooms
  • 1900
    Year Built
  • 2,918 Sq.Ft.
    Living Area

Features & Amenities

Area & Lot

  • Status: For Sale
  • Living Space: 2,918 Sq.Ft.
  • Lot Size: 1,569 Sq.Ft.
  • MLS® ID: PAPH2470658
  • Type: Multi-Family
  • Year Built: 1900
  • Architecture Styles: Traditional
  • School District: PHILADELPHIA CITY

Interior

  • Total Bedrooms: 2

Exterior & Building

  • Water Source: Public
  • Parking: On Street
  • Heat Type: Hot Water, Natural Gas
  • Air Conditioning: Central Air

Financial

  • Sales Price: $579,900
  • Real Estate Tax: $5,039/yr
  • Zoning: Ground Floor Commercial Use with Residential Apartment Use above; currently built out for a restaurant/bar use on the ground flr

3847 Terrace St

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