3847 Terrace Street
Philadelphia, PA 19128
- – beds
- – baths
- 2,918 sqft
- 1,569 sqft lot
- $198 per sqft
- 1900 build
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.
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Last updated Apr 15, 2025
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MLS# PAPH2470658 —
The Building
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Year Built:1900
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Year Built Source:Assessor
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Roof:Flat
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New Construction:No
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Construction Materials:Masonry
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Building Units Total:3
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Structure Type:End of Row/Townhouse
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Architectural Style:Traditional
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Accessibility Features:None
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Foundation Details:Concrete Perimeter
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Total SqFt Source:Assessor
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Total Below Grade SqFt Source:Assessor
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Tax Total Finished SqFt:2918
Interior
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Fireplace:No
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Living Area SqFt Source:Assessor
Room Dimensions
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Total SqFt:2918
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Living Area SqFt:2,918 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Conventional, FHA, VA
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Possession:0-30 Days CD, 31-60 Days CD, 61-90 Days CD
Location
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Directions:Use 3847 Terrace Street, Philadelphia for GPS.
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Latitude:40.02045100
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Longitude:-75.21234100
The Property
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Property Type:Multi-Family
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Property Subtype:Triplex
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Property Condition:Excellent
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Lot Size Units:Square Feet
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Lot Size Acres:0.04
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Lot Size Source:Assessor
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Lot Size Dimensions:19.00 x 83.00
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Lot Dimensions Source:Assessor
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Lot SqFt:1,569 Sqft
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Zoning Description:Ground Floor Commercial Use with Residential Apartment Use above; currently built out for a restaurant/bar use on the ground flr
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Zoning:CMX1
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Other Structures:Above Grade, Below Grade
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Waterview:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Land Use Code:ID0
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (215) 990-9386
- Office phone:
- (610) 947-0408
Taxes
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Tax ID Number:882935540
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Tax Year:2024
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Tax Lot:82
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Tax Annual Amount:$5,039
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Tax Assessed Value:$360,000
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Year Assessed:2025
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School Tax:2822.0
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City/Town Tax:2217.00
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Total Taxes Payment Frequency:Annually
Heating & Cooling
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Cooling Type:Central A/C
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Central Air:Yes
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Cooling Fuel:Natural Gas
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Heating:Yes
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Heating Type:Hot Water
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Heating Fuel:Natural Gas
Utilities
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Sewer/Septic:Public Septic
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Hot Water:Natural Gas
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Water Source:Public
Schools
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School District Name:Philadelphia City
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School District Source:Listing Agent
The Community
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Pool:No Pool
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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Vacation Rental:No
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Units Furnished:None
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Single Room Units:1
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One Bedroom Units:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/15/25
Apr 15, 2025
|
Listed / Active | BRIGHT | $579,900 |