University City Redevelopment
643 North Preston Street, Philadelphia, PA 19104
Property in booming University City neighborhood with redevelopment potential.
Type:Multi-Family / Fee Simple
Property size:
2,580 SFPrice / SF:
$96/SF- Added:
- May 12, 2026
- Days on Market:
- 20
- Last Refresh:
- May 15 at 10:26 pm
Property Features for 643 North Preston Street
General Information
- Standard status
- Active
- Size
- 2,580 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1925
Listing agent Eric D Feinberg License #RS318964 (484) 948-5872
Listing office Keller Williams Realty Group (484) 948-5872
Listing date May 12, 2026
Source Compass
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All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Group
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.
- Potential for redevelopment and long‑term appreciation in a rapidly appreciating market.
- First floor previously approved for restaurant use, offering mixed‑use investment potential (buyer to verify permits).
- Proximity to transportation: Airport less than 10 miles, Bus Stop and Metro/Subway Station less than 1 mile.
Overview
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.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.2033331
- Latitude
- 39.9641166
Nearby Similar for Sale
FAQs
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 North 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.
