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Priced out of expensive and competitive East Coast real estate markets like New York, DC and Boston? Invest/own/rent in Philadelphia, Pennsylvania for a fraction of the cost and experience above national average rent growth and asset appreciation while discovering world class culture, cuisine, convenience and connectivity.By right multifamily development site in red hot East Passyunk submarket of Philadelphia, Pennsylvania. Conceptual plans suggest a 16K SF 4 storey mixed use building set back from the street featuring 14 residential units plus 1 commercial space and 1 truly unique 1200 SF carriage house apartment at the entrance. Total of 16 units proposed by right. Eight 1bd apartments and six 2bd apartments proposed in the mixed use building plus commercial or retail space. Common roofdeck with unobstructed skyline and bridge views. This is a transit oriented development (TOD) located just 2 blocks from SEPTA Broad ST subway line (Snyder Station). The area is thriving with hip influences, cool factor, convenience and above all else, surging residential demand. Rarely does an opportunity come about to develop such dense multifamily housing in this desirable submarket. Walkable to Philly~s new restaurant row on East Passyunk AVE (half block away) where dozens of the city~s most notable chef inspired restaurants and bars are within minutes of the subject site. No variances needed by maximizing the existing warehouse~s 100% lot coverage. The feasibility plan utilizes available bonuses to achieve maximum density. Please note there are no approvals being transferred upon sale; property only. No contingencies accepted. Plans and feasibility study available upon request. MLS has Multi-Family listing restriction, therefore this property is for an estimated 16 units.
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Listing information last updated on February 18th, 2020 at 7:15am EST.