07/16/2024
Site visit June 25, 2024, North Philadelphia. In the portfolio since 2007, it's 4 bedrooms, 2 full baths, located 2 blocks West of Broad St., mid-way between Temple University Hospital, and Temple University Main Campus on 16th St., one of the main routes N.B. from Center City.
It was decided to replace the roof. Done today by Workhorse Roofing, a new main rubber roof was was installed, as well as rear lower landing roof. They also trimmed a tree growing in the alleyway away from the roof which will help keep the drain clear. The new roof looks great, and I appreciate them getting this done today in 100° weather.
I found 2 photos in the City of Philadelphia archives some years ago. One of the block in 1959, the other is at the foot of the block in front of N. Mole St., a small street that runs behind, parallel to 16th St. on W. York St. The photo was taken in 1912! Many of the blocks in the neighborhood are barely wide enough for a vehicle to pass. Hence, automobiles weren't around when these homes were built.
There's definitely correlation in maintenance costs between the original property in Center City, and the neighborhoods just South and North of Center City as they are significantly older than buildings farther uptown, many built before 1900. There are many historic homes uptown, as many people owned summer homes in areas such as Mt. Airy and Germantown back when they were their own separate townships before consolidation occurred with Philadelphia in 1854. However, the majority of the housing stock are post-war. Yes, I consider buildings built in the 1940's and 50's newer structures! Over the years, I've gained significant experience acquiring and managing these properties. I've seen things while hunting for properties that need to be addressed that make others break a sweat, that don't phase me at all. I feel blessed for this knowledge!