239 Race StreetPhiladelphia, PA 19106

John Jordan Historic Condominium Building – Mixed-Use 5-Unit Investment Opportunity in the Heart of Old City

Welcome to 239 Race Street, part of the historic John Jordan Condominium Building, a rare mixed-use property located near the corner of 3rd and Race in the heart of Old City. This well-maintained, condo’d five-unit building includes five residential condominiums, a commercial office space, and an additional 735 sq ft of cellar storage — making it ideal for investors or owner-users seeking flexibility and long-term upside in one of Philadelphia’s most desirable neighborhoods.

The total building square footage is approximately 5,895 sq ft. Residential units are a mix of 1- to 3-bedroom layouts, many occupied by long-term tenants, providing immediate income stability with significant potential for rent growth over time. The ground-floor commercial office makes this a true mixed-use asset, perfect for a professional looking to operate their business on-site or lease it out for additional income.

Zoning: CMX-3
This highly desirable CMX-3 zoning may allow for additional development potential. Future owners have the opportunity to increase the building’s square footage by expanding existing units, adding more units, or pursuing a vertical or rear extension — maximizing the property’s value and income potential.

Unit Breakdown:
• Unit A: 1 Bed / 1 Bath | 780 sq ft | Est. Rent: $1,750/month
• Unit B: 2 Bed / 1.5 Bath | 1,422 sq ft | Est. Rent: $2,200/month
• Unit C: 3 Bed / 2 Bath | 1,272 sq ft | Est. Rent: $2,500/month
• Unit D: 2 Bed / 1 Bath | 966 sq ft | Est. Rent: $1,800/month
• Unit E: 1 Bed / 1 Bath + Den | 720 sq ft | Est. Rent: $2,135/month
• Cellar Storage: 735 sq ft (value-add space)

Recent upgrades include new HVAC systems and water heaters, a full roof replacement in 2023, and fresh exterior trim painting. With estimated annual taxes at $19,592 and a projected gross rent of over $10,000/month, this property offers reliable income with significant long-term growth opportunities.

Located just a half-block from 3rd & Race and steps from the acclaimed Bridge on Race luxury building, 239 Race Street offers unbeatable walkability to top-tier restaurants, nightlife, public transit, and historic Philadelphia landmarks.