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Old 02-15-2009, 06:19 PM
 
3 posts, read 57,924 times
Reputation: 12

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I'm thinking of buying a triplex (live in one rent out the other two) in the Pennsport area of Philadelphia. I'm looking for input about the neighborhood at Moyamensing and Greenwich.

I'm 30 y/o and I work in Delaware so that fact that it is close to 95 is a big plus.

Thank you.
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Old 02-15-2009, 06:44 PM
 
101 posts, read 351,071 times
Reputation: 35
pretty good area, i taught for several years at moyamensing and morris st. 5th st. has some drugs and neighborhood rivalry stuff going on, but moyamensing and east are pretty decent.

as you mentioned, it's super convenient to hop on 95 south into delaware. 95 does get kinda nasty around the blue route during rush hour though.
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Old 02-17-2009, 10:56 PM
 
Location: Yardley PA
689 posts, read 2,076,293 times
Reputation: 183
Not a bad area. Duplex/Triplexes are great investments. One word of advice though - DOUBLE CHECK THE ZONING BEFORE YOU BUY! I can't tell you how many duplex/triplex's I've shown clients that when we double check the zoning we come to find out theyre illegally set up and are zoned residential. If that happens to you, they could make you turn it back into a single family house before you move in and defeat the whole purpose of your purchase.. I can check the public records if you give me the address.
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Old 02-18-2009, 02:10 PM
 
Location: Columbus,Ohio
1,014 posts, read 3,156,494 times
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I lived there from 1983 to 1992 and it was not a bad area. Crime was just the nuisance variety ( rowdiness and drunkiness).However as a single woman back then( I moved to Ohio and married since then) I did feel safe. Just as long you stay east of 4th St. you'll be okay.
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Old 03-02-2009, 08:16 PM
 
3 posts, read 57,924 times
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Thanks for the info. The address is 1517 E. Moyamensing. We've tentatively settled on $425k for the properties which included a two car garage. I figured since the rent from the two units and the garage will just about cover the mortgage it can't be that bad of a deal. If anyone has any info on the zoning it would be very much appreciated.
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Old 03-02-2009, 08:52 PM
 
Location: Columbus,Ohio
1,014 posts, read 3,156,494 times
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Quote:
Originally Posted by poole_3 View Post
Thanks for the info. The address is 1517 E. Moyamensing. We've tentatively settled on $425k for the properties which included a two car garage. I figured since the rent from the two units and the garage will just about cover the mortgage it can't be that bad of a deal. If anyone has any info on the zoning it would be very much appreciated.
Wow !I lived very close from 1983 to 1992 at 327 Dickinson St. Pretty decent area. Wonder if the Pennsport Deli across the street from Sacred Heart Church on Moyamensing Ave between Reed and Dickinson Sts. is still there? It was owned by 2 brothers and the sandwiches they made were delicious.
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Old 03-02-2009, 11:59 PM
 
Location: Yardley PA
689 posts, read 2,076,293 times
Reputation: 183
It is zoned as R10A which does not appear to allow for multiple family dwellings. This could cause issue going forward, especially when L&I comes out..
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Old 09-29-2009, 04:04 PM
 
26 posts, read 84,540 times
Reputation: 26
Pennsport, in my opinion, is one of the best buys in the city right now -- especially Northern Pennsport. It's only a few blocks South of QV and Bella Vista, but the property prices are literally 50-100G less. Tons of high-end new construction (that is actually being bought) will ensure your neighbors remain vested in the upkeep of the neighborhood. The only thing you have to gamble on (no pun intended) is whether or not Foxwoods Casino will get built, and how that will affect the area. Either way, best of luck.
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Old 09-29-2009, 09:29 PM
 
Location: South Philly
1,943 posts, read 6,251,707 times
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my opinion, and i'm not really "pro-casino" is that if the casinos have any impact it'll be on the traffic end.

Anyway, Pennsport is a great investment. A few new gastropubs and restaurants have opened up recently and the area around 5th St. (aka - the ghettobahn) is cleaning up slowly and has cleaned up a lot around Wharton and Reed.

I would double check the zoning at L&I (physically go there) and not rely on what the website says. I've run into inaccuracies before. If your place is zoned R10A and it's not what your agreement of sale says then you do have an out. I would definitely not buy a multi-family property that wasn't zoned for it. You can always approach the Pennsport Civic Association before you close, explain your situation, and ask for their support. That's usually all it takes for the ZBA to grant your request.

OTOH, they could be really hostile about it. I know my civic association does not look kindly upon people who try to do an end run around the legal process for getting a zoning change (meaning the guy you're buying it from trying to sell it to someone who doesn't know better before the Civic catches him - but you have nothing to lose as you don't own it yet so nothing ventured, nothing gained.
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