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Listed by Steve Burke • Tesla Realty Group, LLC
$ 1,088,000
Est. payment | /mo
124,936 SqFt
$ 1,088,000
Est. payment | /mo
124,936 SqFt
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 124,936 sqft
Price per Sqft $8
MLS Listing ID PAPH2626776
Style 10000001224
Abv Grd Liv Area 124,936
Year Built 1940
Annual Tax Amount $9,378
Tax Year 2026
Lot Size 0.590 Acres
Acres 0.59
Property Sub-Type Other
Source BRIGHT
Property Description
Prime West Philadelphia development opportunity with zoning approvals previously obtained for a 74-unit residential project. This offering includes a fully designed adaptive reuse and new construction development consisting of a renovated existing structure plus a proposed five-story addition.
Architectural, structural, civil, and MEP plans have already been completed, representing a substantial head start for a developer looking to move quickly. The seller has invested approximately $300,000 toward planning, design, engineering, and entitlement work to bring the project to its current stage.
Approved plans called for approximately 57,842 SF of gross building area with a total of 74 residential units, including 27 units within the existing structure and 47 units within the newly proposed addition. The project was designed as an R-2 occupancy with modern multifamily layouts and code-compliant life safety systems.
Adding to the area's momentum, a newly constructed 30-unit residential building is located directly next door, further highlighting the strong development activity and increasing demand in the immediate neighborhood.
Please note: Previously issued permits have expired, and the buyer will be responsible for obtaining new permits and completing any required updates or re-approvals with the City of Philadelphia. However, much of the difficult and time-consuming pre-development work, including architecture, engineering, and zoning-related approvals, has already been completed.
Located in the rapidly developing West Philadelphia corridor with strong rental demand, nearby institutional growth, and continued neighborhood investment, this is an excellent opportunity for developers, multifamily operators, or long-term investors seeking a project with substantial pre-development work already completed.
The buyer is responsible for independently verifying zoning, permits, approvals, taxes, square footage, and all development feasibility information.
Extensive architectural package available upon request including full DesignBlendz plan set, structural, civil, and MEP drawings. Property previously received zoning approval for 74 residential units. Seller states over $300,000 has already been spent on architecture, engineering, planning, and entitlement-related costs.
Plans include renovation of existing structure plus new 5-story addition. Approximate proposed building area is 57,842 SF. Previously issued permits have expired. Buyer will be responsible for re-permitting and confirming current city requirements, approvals, and development pathway moving forward.
Ideal for experienced multifamily developers seeking a partially de-risked project with substantial pre-development work completed. Buyer to perform all due diligence regarding transferability of approvals, permitting status, taxes, utilities, construction costs, and development feasibility. Contact listing agent for access to plans and supporting documentation.
Architectural, structural, civil, and MEP plans have already been completed, representing a substantial head start for a developer looking to move quickly. The seller has invested approximately $300,000 toward planning, design, engineering, and entitlement work to bring the project to its current stage.
Approved plans called for approximately 57,842 SF of gross building area with a total of 74 residential units, including 27 units within the existing structure and 47 units within the newly proposed addition. The project was designed as an R-2 occupancy with modern multifamily layouts and code-compliant life safety systems.
Adding to the area's momentum, a newly constructed 30-unit residential building is located directly next door, further highlighting the strong development activity and increasing demand in the immediate neighborhood.
Please note: Previously issued permits have expired, and the buyer will be responsible for obtaining new permits and completing any required updates or re-approvals with the City of Philadelphia. However, much of the difficult and time-consuming pre-development work, including architecture, engineering, and zoning-related approvals, has already been completed.
Located in the rapidly developing West Philadelphia corridor with strong rental demand, nearby institutional growth, and continued neighborhood investment, this is an excellent opportunity for developers, multifamily operators, or long-term investors seeking a project with substantial pre-development work already completed.
The buyer is responsible for independently verifying zoning, permits, approvals, taxes, square footage, and all development feasibility information.
Extensive architectural package available upon request including full DesignBlendz plan set, structural, civil, and MEP drawings. Property previously received zoning approval for 74 residential units. Seller states over $300,000 has already been spent on architecture, engineering, planning, and entitlement-related costs.
Plans include renovation of existing structure plus new 5-story addition. Approximate proposed building area is 57,842 SF. Previously issued permits have expired. Buyer will be responsible for re-permitting and confirming current city requirements, approvals, and development pathway moving forward.
Ideal for experienced multifamily developers seeking a partially de-risked project with substantial pre-development work completed. Buyer to perform all due diligence regarding transferability of approvals, permitting status, taxes, utilities, construction costs, and development feasibility. Contact listing agent for access to plans and supporting documentation.
Location
State PA
County Philadelphia
Area 19131 (19131)
Zoning RM2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Water Access N
Accessibility Other
Garage N
Building
Above Ground Finished SqFt 124936
Sewer Public Sewer
Water Public
Architectural Style 10000001224
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881000337
Ownership Fee Simple
SqFt Source 124936
Special Listing Condition Standard
Nearby Locations