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134 Chestnut St
Off-Market Call for Pricing
Call for Pricing
- Units
- Unknown Sq Ft
- 945 Sq Ft
- Unknown Cap Rate
Description
Investor opportunity in the heart of Philadelphia’s storied Old City District—134 Chestnut Street is a stabilized, cash-flowing legal four-unit mixed-use building with CMX-3 zoning and multiple revenue paths. With 2,265 square feet of rentable space, this property checks all the boxes for a savvy buyer seeking long-term appreciation and immediate income.
The ground floor is occupied by a successful Middle Eastern restaurant on a long-term lease with 7.5 years remaining, 5% annual rent escalations, and favorable terms—including the tenant covering 85% of real estate taxes and 100% of the water bill. This solid commercial anchor contributes to a projected cap rate of 8.2% and $92,400 in annual gross rent.
Above, three residential units provide flexible rental strategies. One unit—currently non-conforming—is used by the owner and delivered vacant, making it ideal for short or mid-term rental conversion. The existing layout offers the option to update or reconfigure for maximum return, and the CMX-3 zoning allows for upward expansion or creative repositioning.
Located in a prime section of Old City surrounded by historic charm, galleries, restaurants, and cultural landmarks, this address also benefits from strong tourism, transit access, and professional rental demand. Whether you continue operating as-is or explore Airbnb, mid-term rentals, or adding residential density—this building presents a rare blend of location, income, and flexibility.
Owner
Do you own or manage this property?
This is My PropertyAmenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,000,000 |
| Property Type | Flex Space |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1900 |
| Last Sold | August 10, 2025 |
| Sold Price | 1,000,000 |
| APN # | 871006300 |
| MLS # | PAPH2430602 |
| Property ID | 321143986 |
| Lot Sqft | 945 |
| Zoning | CMX3 |
| Date Updated | August 15, 2025 |
| Date Created | December 29, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Richard K Cassell an agent of . Lic #RS330536
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Data last updated: December 20, 2025.
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Robert Crawford
REAL ESTATE AGENT