Description
43-unit multifamily development site in Philadelphia, Pennsylvania — a Top-10 USA MSA. The proposed apartment building features 12 studios, 24 1-bed, and 7 2-bed apartments. Additionally, building features include a co-working lounge, bike storage, rooftop terrace, large lobby, elevator and parking lot (18 spaces). The structure will encompass 4-storeys with 35,761 SF on the substantial 19,881 SF parcel. Located near Temple University Health Sciences Center (strong employment base of highly-skilled, educated workers) in an area starved for multifamily housing. 10-year tax abatement eligible. Enquire within for PPP (plans, pro forma, permits). Short-term income is in-place via storage on-site. Approx. $65K in annual income in-place via storage units ensures short-term cash flow while planning for future development.
Philadelphia Market Context
Located in Philadelphia, Pennsylvania, near ZIP code 19140, this property connects naturally to the broader local inventory. See homes in Philadelphia, then compare land and lots for sale for a wider view of the market. For another nearby comparison, review listings in Phila.
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