A package of 35 homes is available to buy on online real estate sites, including Zillow—but some worry that the occupants, the majority of whom make below-average income, are being taken advantage of.
In a TikTok posted on Friday, TikToker Sierra drew attention to the “35 Property Portfolio” located listed on Zillow.
“There’s an entire neighborhood for sale in West Philidelphia,” Sierra says in her TikTok. “And something about this just doesn’t sit right with me.”
The portfolio’s description on Zillow states that all the townhomes are “fully occupied” with “some under-valued rents and significant capital appreciation opportunity” and are “an advantageous investment opportunity.”
“This makes me nervous for the families living in these homes,” Sierra says in her TikTok. “I would just love for the people living in these 35 homes to have like support and resources from the city to be able to buy their homes, instead of their entire neighborhood being for sale.”
Neither Sierra nor Zillow immediately responded to the Daily Dot’s request for comment.
@sierrakatherinee My Spidey senses are tingling. What dk yall think about selling entire neighborhoods? #philadelphiarealestate #zillowfinds #philly #buytheblock ♬ original sound – Sierra
The property portfolio is located in Cobbs Creek, a neighborhood with a median family income that according to the U.S. Census is $52,649, more than $16,000 lower than the national median family income.
Affordable housing initiatives are currently at work in West Philadelphia, the broader area in which Cobbs Creek is located.
The property portfolio was first listed by Compass on June 4. In a text message, the Compass realtor selling the portfolio clarified that it isn’t an “entire neighborhood.”
“Just a seller who owns 35 properties and he is selling them,” the realtor told the Daily Dot. “Across a couple neighborhoods.”
Sierra and commenters speculated about the property package in the comments section of her video.
“I wonder how many even know this is happening,” Sierra said of the residents and renters whose properties are on the market. She also commented saying that she’s worried residents will be priced out. “It would shock me if they were FULLY aware of what’s happening.”
“They’re def gonna raise the rents, get them to leave or be evicted, and then turn them into ‘luxury’ something,” @professionalbabymomma commented.
Update 12:07pm CT, July 27: In a statement to the Daily Dot, Will Lemke, a spokesperson for Zillow, said that Zillow receives its listings from a service that determines the types of properties listed in different markets.
Lemke said the 35 property portfolio came from a multiple listing service, one that Zillow is currently working with to “determine why this particular listing is being displayed” in a large, packaged format.
