University City Redevelopment
For Sale
$250,000
Pending
643 N PRESTON STREET, Philadelphia, PA 19104
Property in booming University City neighborhood with redevelopment potential.
Property Size2,580 SF
Days on Market109
Property Features for 643 N PRESTON STREET
General Information
Standard status
Pending
Size
2,580 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$1,979
Building Details
Building Size
2,580 SF
Year Built
1925
Listing Agency:
Keller Williams Realty Group
(484) 948-5872
Listed By:
Eric D Feinberg · License #RS318964
(484) 948-5872
Source:
Patmckennarealtors
Added: May 14
Changed: Aug 25
Last Checked: Aug 24 at 3:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Group
Investment Insights
Based on property information with market context.
Located in Philadelphia’s University City neighborhood, this property presents an opportunity for investors, developers, and builders. Positioned along Lancaster Avenue, the property offers potential for redevelopment and long-term appreciation. The building has been framed for a three-unit layout, featuring two-bedroom units on the second and third floors. The first floor was previously approved for restaurant use; buyers should verify the current status of any permits with the city. The location is surrounded by rental demand from students from Drexel University and the University of Pennsylvania, as well as young professionals. The expansion of Schuylkill Yards is expected to transform the area and increase property values. The property presents possibilities in a rapidly appreciating market for developing apartments or creating a mixed-use investment property. The property size is 2580 square feet. Transportation options include the airport less than 10 miles away, a bus stop less than 1 mile away, a metro/subway station less than 1 mile away, and a commuter rail station 1 to 5 miles away.
Key Highlights
- Prime location in Philadelphia's University City, a rapidly growing area with high visibility on Lancaster Avenue.
- Pre‑existing framing for a three‑unit layout with spacious two‑bedroom units on the second and third floors.
- Strong rental demand driven by proximity to Drexel University, University of Pennsylvania, and young professionals.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,420
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Property in booming University City neighborhood with redevelopment potential.
Where is this triplex located?
The property is located at 643 N PRESTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Prime location in Philadelphia's University City, a rapidly growing area with high visibility on Lancaster Avenue.; Pre‑existing framing for a three‑unit layout with spacious two‑bedroom units on the second and third floors.; Strong rental demand driven by proximity to Drexel University, University of Pennsylvania, and young professionals.
