South Philadelphia - How will the waterfront effect values?
I am considering buying some rental property in this neighborhood around 5th and Wharton. It's a nice part of South Philadelphia and near the Italian market and the new waterfront developments planned. I am curious about the demographic and prospects for rental market. IS South Philadelphia (East side) a good area to invest?
Brian,
Anytime you can buy in a down market and hold until property values grow would be considered a good investment. However you still need to "count the costs". You have to determine what your holding costs will be on the subject property. Then how much income will the property generate. Also of concern would be any necessary repairs needed to make the house ready for occupancy. Feel free to give me a call. We can discuss for future real estate goals and how I can best assist.
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