3847 Terrace St

Philadelphia, PA 19128

$579,900
Price
Beds
Baths
2,918 Sq. Ft.
$199 / Sq. Ft.
2,918
Sq. Ft.
$199
per Sq. Ft.

Description

Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphia’s most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business. The first-floor retail space, previously...Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphia’s most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business. The first-floor retail space, previously a successful restaurant tavern, comes with a commercial kitchen space and hood system, walk-in cooler, bar layout and seating for 40-60 patrons. The property comes with the potential to acquire a liquor license, which will be sold separately from the property itself. This license allows for full-service alcohol service, including outdoor seating, offering tremendous flexibility for a bar or restaurant business. The CMX1 zoning permits additional uses including a deli/grocery store, daycare facility, boutique, financial services, pet store, or medical practice. Above the retail space, there are two newly renovated 1-bedroom apartments on the 2nd and 3rd floors, each featuring modern updates including new flooring, stainless steel appliances, a washer and dryer in each unit and stylish new bathrooms. Located in a high-demand, thriving neighborhood, this mixed-use property is an excellent investment with great potential for both rental income and business ventures.

Listing Agents

  1. Aimee Alexander

    Aimee Alexander

    Listing Agent

    Compass

  2. Steven Everett

    Steven Everett

    Alternative Listing Agent

    Compass

Property Details for 3847 Terrace Street

Tax ID Number
882935540
Ownership
Fee Simple
Structure Type
End of Row/Townhouse
Style
Traditional
Waterfront
No
Garage
No
Municipality
PHILADELPHIA
Central Air
Yes
LISTING UPDATED: 06/24/2025 03:35 PM

Property Details for 3847 Terrace Street

StatusActive Under Contract
MLS #PAPH2470658
Days on Market31
Taxes$5,039 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1900
Lot Size0.04 AC / 1,569 SF
CountyPhiladelphia County
Add your commute

Building Information for 3847 Terrace Street

Stories-Residences3Year Built1900Building Size-Lot Size0.04 AC / 1,569 SF

Payment Calculator

$3,458 per month

30 year fixed, 6.845% Interest

Principal and Interest

$3,038

Property Taxes

$420

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3847 Terrace Street

Location
Location
  • School District Name: PHILADELPHIA CITY
  • School District County ID: 803408593408
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19128 (19128)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2024
  • Tax Assessed Value: $360,000
  • Year Assessed: 2025
  • County Tax: $0
  • Improvement Assessed Value: $288,000
  • City Town Tax: $2,217
  • Land Assessed Value: $72,000
  • Clean Green Assessed: No
  • Land Use Code: ID0
  • Zoning: CMX1
  • Zoning Dscrp: Ground Floor Commercial Use with Residential Apartment Use above; currently built out for a restaurant/bar use on the ground flr
  • Tax Lot: 82
  • School Tax: $2,822
  • Automatically Update Tax Values Y/N: Yes
Unit Information
Unit Information
  • Single Room Units Count: 1
  • One Bedroom Units Count: 2
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
  • Units Furnished: None
  • Number Of Units Vacant: 3
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 2,918.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 19.00 x 83.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 998014
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Hot Water
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Septic
Confidential Data
Listing Office
  • List Agent AOR: Tri-County Suburban REALTORS

Property History for 3847 Terrace Street

DateEvent & SourcePriceAppreciation
May 15, 2025

Active Under Contract

BRIGHT #PAPH2470658

Apr 15, 2025

Listed (Active)

BRIGHT #PAPH2470658

$579,900
Dec 31, 2019

Expired

BRIGHT #PAPH815192

$424,900
Jul 10, 2019

Listed (Active)

BRIGHT #PAPH815192

$424,900
Feb 16, 2015

Closed (Public Record)

Public Record #489110752

$250,000
DateEvent & SourcePrice
05/15/2025

Active Under Contract

BRIGHT #PAPH2470658

04/15/2025

Listed (Active)

BRIGHT #PAPH2470658

$579,900
12/31/2019

Expired

BRIGHT #PAPH815192

$424,900
07/10/2019

Listed (Active)

BRIGHT #PAPH815192

$424,900
02/16/2015

Closed (Public Record)

Public Record #489110752

$250,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3847 Terrace Street

Taxable ValueLand$72,000Additions$288,000Total$360,000
Tax Record2024$5,039 ($420 / month)
Home Facts
Total Finished SqFt2,918 SqFtAbove Grade Finished SqFt2,918 SqFtStories3Lot Size1,569 SqFtStyleRestaurantYear Built1900ZoningCMX1CountyPHILADELPHIAAPN88-2-9355-40

Schools near 3847 Terrace Street

This home is within The School District of Philadelphia.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - K to 12
Public - 6 to 8
Rating
School
Distance
Cook-Wissahickon School
PublicPK to 8

Roxborough High School
Public9 to 12

Widener Memorial School
PublicK to 12

Middle Years Alternative School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.