Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
None
Lot size
0.59 acres
Introducing a remarkable ±25,420 SF corner lot in vibrant West Philadelphia, ideal for your next multifamily development project! This shovel-ready site comes complete with paid permits valued at over $40,000 and detailed plans to construct an impressive 74-unit residential building. Enjoy unparalleled access to the dynamic University City area, a bustling "eds and meds" innovation hub featuring prestigious institutions like the University of Pennsylvania, Drexel University, CHOP, and the Science Center, alongside the thriving Schuylkill Yards and 30th Street Station. This prime location is truly at the heart of the Philadelphia real estate market and is poised for substantial appreciation in the coming years, thanks to its proximity to cutting-edge advancements in education, healthcare, life sciences, business, and technology. The demand for high-quality housing in this area has never been more critical, making this an incredible opportunity to buy and build! Your new development will include a range of apartments—studios, one-bedroom, and two-bedroom units—complete with parking in an elegant five-story structure. Benefit from a significant 10-year tax abatement, allowing for increased returns on investment. Don’t miss out on this extraordinary chance to transform a prime location into much-needed housing. For additional insights on the pro forma, plans, and permits, please reach out. Remember, the buyer is responsible for verifying taxes, square footage, and entitlements during due diligence. Take the next step in shaping Philadelphia's future today!
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.59
-
Property Type
Land
Exterior
-
Garage
No
Financial
-
Sales Price
$1,249,999
-
Tax Amount
120170.0
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Steve Burke Jr. , Tesla Realty Group, LLC
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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