Patterson-Schwartz Real Estate641 N 56Th Street, Philadelphia, PA 19131-4234 $250,000
Interior Sq. Ft: 1,824
Acreage: 0.03
Age:100 years
Taxes: $1,272
Subdivision: Carroll Park
Design/Type:
End of Row/Townhouse
Description
Newly Repriced! High-Yield Investment Opportunity – 13.24% Cap Rate in a Federal Opportunity Zone. This prime corner mixed-use property delivers strong cash flow and is situated within a designated Federal Opportunity Zone, offering significant tax incentives for the savvy investor. Currently designed as a fully equipped neighborhood grocery store, the retail space includes shelving, refrigeration units, and a deli counter—all included in the sale. Above the store is a spacious two-bedroom, one-bath residential unit featuring a living room, a kitchen with a combined dining area, and a private deck. Additionally, the property includes a roughed-in studio space at the rear of the first floor—perfect for expanding residential income, additional storage for the corner store or reimagining as a home office, flex space or Airbnb. The commercial space also has direct basement access for storage, via the interior or the Bilco door entrance from the street.This is a versatile, income-producing asset with excellent value-add potential in a high-demand location—ideal for both seasoned investors and new entrants seeking long-term growth with built-in tax advantages. Needs TLC but the value is there for a savvy investor. Easy to see with no tenants.
Home Assoc: No
Condo Assoc: No
Basement:
Pool: No Pool
High School: Overbrook
Features
Utilities
Baseboard - Hot Water Heating, Natural Gas, Window Unit(s) Cooling, Electric, Hot Water - Natural Gas, Public Water, Public Sewer
Garage/Parking
On Street
Interior
Ceramic Tile Flooring, Hardwood Flooring, Engineered Wood Flooring
Exterior
Brick/Mortar Foundation, Flat Roof, Masonry
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Public Elementary (131 schools)
Public Middle (21 schools)
Public High (53 schools)
Private (137 schools)
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This report is a detailed community overview for Philadelphia (19131), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 35
- Average salary of people in this community: $38,096
Community Summary
- Population Density (ppl / mile): 7,954
- Household Size (ppl): 2.41
- Households w/ Children: 55%
Housing Inventory
- Owned: 8,544 (40.0%)
- Rented: 8,980 (42.0%)
- Vacant: 3,837 (18.0%)
- Total: 21,361
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 2.9%
- Some High School: 7.8%
- High School Graduate: 29.9%
- Some College: 26.4%
- Associate Degree: 5.5%
- Bachelor's Degree: 15.2%
- Graduate Degree: 12.3%
Income by dollar range
Median Income: $37,345
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $867
- One Bedroom: $959
- Two Bedroom: $1,137
- Three Bedroom: $1,058
- Four Bedroom: $1,543
© 2025 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-547-6598
Listing Courtesy of: Elfant Wissahickon-Rittenhouse Square , (215) 893-9920
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 6/12/2025.
