$425,000
$495,000
14.1%For more information regarding the value of a property, please contact us for a free consultation.
2,818 Sqft Lot
SOLD DATE : 07/06/2020
Key Details
Sold Price $425,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
Subdivision West Powelton
MLS Listing ID PAPH837886
Sold Date 07/06/20
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $3,502
Tax Year 2020
Lot Size 2,818 Sqft
Acres 0.06
Lot Dimensions 19.60 x 64.40
Property Description
Large corner development deal in OPPORTUNITY ZONE area of West Philly, right on the edge of Mantua & West Powelton, 3 blocks from Drexel Athletic fields. According to public record, the 2 parcels total 4,574 SF of land area zoned CMX2. Currently there is a shell property approx. 9100 SF interior space that sits across both parcels. If rehabbed, you could add a 3rd story to part of the existing structure to achieve more interior square footage. Or, you could easily demo the existing free standing building and build a 4 story brand new construction building, like what other developers are currently doing 2 blocks away at 40th & Lancaster. The total lot size & zoning allows for you to build 8 residential units above commercial unit(s) on ground level by right. Or take advantage of the cities Mixed Income Housing Program to achieve 2-4 additional residential units AND 7 feet in added building height, WITHOUT needing a variance. Corner property allows for commercial frontage along TWO main streets and tons of windows & natural light in apartments above. This deal is a no brainer long term when you consider surrounding future projects such as the $3.5B Schuylkill Yards Project and the $1B UCity Square Development, all positioning this neighborhood to become a new major East Coast innovation hub. **This is also being marketed as Commercial Sale - MLS# PAPH838096 Land - MLS# PAPH837886 and Multi-Family - MLS# PAPH838048 **
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX2
Exterior
Waterfront N
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
Schools
School District The School District Of Philadelphia
Others
Tax ID 871285400
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Francis Mangubat • Keller Williams Philadelphia
“Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”