$425,000
$495,000
14.1%For more information regarding the value of a property, please contact us for a free consultation.
5,856 SqFt
SOLD DATE : 06/30/2020
Key Details
Sold Price $425,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 5,856 sqft
Price per Sqft $72
Subdivision West Powelton
MLS Listing ID PAPH838096
Sold Date 06/30/20
HOA Y/N N
Originating Board BRIGHT
Year Built 1925
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 a Commercial, Land - MLS# PAPH837886 and Multi-Family - MLS# PAPH838048 **
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX2
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
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
Find out why customers are choosing LPT Realty to meet their real estate needs