229 RACE ST, Philadelphia, PA 19106

Property Description

Exceptional INCOME-PRODUCING multi-family opportunity in the heart of historic OLD CITY. This BEAUTIFULLY RESTORED FOUR-STORY DUPLEX features two spacious residences under one roof and generates over $80,000 in annual rental income, making it an outstanding investment or future owner-occupant opportunity. Rich in historic character, the property showcases exposed brick walls, wide-plank hardwood floors, restored original details, decorative fireplaces, custom tile work, soaring 11-foot ceilings on the second floor, and updated kitchens and baths throughout. The first-floor bi-level residence offers approximately 2,000 square feet with a spacious open living area, custom kitchen with granite countertops and stainless steel appliances, one bedroom and full bath on the main level, a fully finished lower level with additional flex space ideal for a bedroom, office, gym or recreation room, laundry, abundant storage, and a private rear patio. The upper residence spans the second through fourth floors and features an OPEN LOFT-STYLE LAYOUT with hardwood floors, wood plank ceilings, a large eat-in kitchen, two bedrooms plus a flexible loft space, one full and a half bath, in-unit laundry, central air, generous closet space, and it’s own private fenced patio. Located in the heart of Old City. This location offers easy access to I-95, I-676, Route 76, Center City, Penn's Landing, Race Street Pier, Spruce Street Harbor Park, Jefferson, Cooper, and Pennsylvania Hospitals, acclaimed restaurants, boutiques, galleries, coffee shops, neighborhood markets, and Philadelphia's most iconic historic landmarks. A rare opportunity to own a TURNKEY INVESTMENT property in one of the city's most desirable and consistently high-demand neighborhoods.

Listing Status:

Active

Data Last Updated:

August 8, 2026 at 7:16AM

Listing Office:

MAXWELL REALTY COMPANY : 2155466000

Listing Agent:

Nancy L Alperin : 2156200099

MLS ID:

PAPH2648166

Interior

• A/C: Central A/C
• Heating: Hot WaterNatural Gas
• Disability Feature: None

Construction

• General: MasonryOther

Location

• Originating MLS: BRIGHT_MAIN
• School District: PHILADELPHIA CITY
• County: PHILADELPHIA-PA

Lot

• Zoning: CMX3052201000

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN
• Exclusions: Tenants belongings