University City Real Estate

University City Real Estate

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Newest Listings in University City

$425,000
Well-maintained triplex investment property in West Philadelphia’s Walnut Hill neighborhood, offering immediate income along with meaningful recent improvements. The property features three two-bedroom, one-bath units located on the basement, first and second floors. Each unit has its own entrance and independent heating and cooling. Residents also enjoy a shared rear yard and common laundry area—features tenants appreciate for both convenience and the property’s sense of community. The property is fully occupied, with current monthly rents of $1,500, $1,400 and $1,100, generating $4,000 per month and $48,000 annually. It is registered for three dwelling units under Use Permit No. 485482. The owner has made substantial investments in the property, including a new sewer lateral from the city main in 2025; updated HVAC systems and water heaters; renovated kitchens and bathrooms in Units B and C; and a new 200-amp electrical service line. Additional 2026 work includes roof coating and edge cement, along with repairs to the rear siding and capping. The washer and dryer in the common laundry area were replaced in 2024. This is a strong opportunity for an investor looking for established rental income or an owner-occupant who wants to offset housing expenses with rent from the other two units. The property is being sold subject to the existing leases. Located just off the 52nd Street commercial corridor and steps from Malcolm X Park, the property offers convenient access to neighborhood shops, restaurants and services. SEPTA Routes 21, 42 and 52, along with the Market-Frankford Line at 52nd Street, provide connections through University City and Center City. The University of Pennsylvania, Drexel University, Penn Medicine and Children’s Hospital of Philadelphia are readily accessible, while nearby Spruce and Pine Street bike lanes offer an additional east-west route. The restaurants and businesses along Baltimore Avenue are also nearby.

5125 Spruce St, Philadelphia

Listing courtesy of KW Empower. Contact: vicki@kwempower.com

$6,000,000
We are pleased to present the exclusive sale of 237 S. 48th Street & 4710 Locust Street, the former site of Admiral Court & Dorset Court - a two-building apartment community that formerly contained 104 units. The site is now proposed (based on preliminary by-right review) for a ±160-unit multifamily redevelopment involving adaptive reuse of the original Dorset Court building. Buyer is responsible for obtaining zoning permits and building plans, and for confirming allowable density and massing. Following the demolition of the original Admiral Court building due to fire damage, and the partial renovation of the ±48,000 Sq Ft Dorset Court building, the property presents a rare redevelopment opportunity on approximately 36,000 square feet of combined land area. The site is zoned RM-1 (Multifamily Residential), offering a strong foundation for a high-density residential project in one of Philadelphia’s most supply-constrained rental markets. The property is located in the Walnut Hill neighborhood of University City, one of the region’s strongest residential submarkets, driven by the continued expansion of Penn Medicine, Children’s Hospital of Philadelphia (CHOP), the University of Pennsylvania, Drexel University, and numerous life sciences, research, and technology employers. The location offers excellent connectivity via SEPTA’s Market-Frankford Line, multiple trolley routes, and major thoroughfares including I-76, providing convenient access to Center City and the broader Philadelphia region. The City of Philadelphia offers a 10-year property tax abatement for residential new construction (Ordinance 961) and renovations (Ordinance 1456-A). The property is located in a census tract identified as potentially eligible under proposed Opportunity Zone successor legislation (‘QOZ 2.0’). Additionally, the property falls within Philadelphia’s Mixed Income Neighborhood (MIN) Overlay, making it particularly well-suited for affordable and workforce housing development. Opportunities to acquire nearly an acre of multifamily-zoned land in University City are exceptionally scarce. 237 S. 48th Street & 4710 Locust Street represent a compelling opportunity for developers seeking to capitalize on one of Philadelphia’s most dynamic and resilient rental markets.

4710 Locust St, Philadelphia

Listing courtesy of Mallin Panchelli Nadel Realty Inc. Contact: 2154134900

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