4206-08 CHESTNUT, Philadelphia, PA 19104 – PAPH2361312

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Joseph Lam

sales@soldbyturnkey.com +1(856) 305-8329

Listed by Reda B Akbil • Compass Pennsylvania, LLC

$1,390,000

Est. payment - /mo

23,500 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 23,500 sqft

Price per Sqft $59

Subdivision University City

MLS Listing ID PAPH2361312

Style Other

Abv Grd Liv Area 23,500

Originating Board BRIGHT

Annual Tax Amount $5,905

Tax Year 2022

Lot Size 2,754 Sqft

Acres 0.06

Property Sub-Type Other

Property Description

4206-08 Chestnut Street is an extremely rare development opportunity in a PRIME University City location.
This site is the heart of University of Pennsylvania's campus and the Philadelphia Region's leader in Education, Science, and Innovation. Sites like this one are far and few between so act fast.
Currently there are two building that would be demolished. One is a shell and the other one is in a decent condition.
Development highlights include the possibility of 22 units by right with diverse unit mixture on 8 storeys building, around 23,350 sqft and CMX-4 zoning.

Project includes :
- Approved Demolition Permit
- Environmental (Phase 1&2)
- Approved properties Consolidation Permit
- Zoning permit – In the works
- Proposed Floor Plans.

Location, Location, Location - University City is home to some of the best educational and medical facilities in the world including Drexel, UPenn, St. Joe's, Penn Medicine and the Children's Hospital of Philadelphia (CHOP). The University City area boasts more than 85,000 jobs, 44% of all national institutes of health investments in the entire state, $1.85 billion in Research and Development expenditures among higher education institutions, a tripling of median home values over the past decade, and approximately 2.75 million square feet in development or under construction.
Contact me for more informations about the current and future projects that happening in the immediate area. Offering Memorandum available upon request.

Location

State PA

County Philadelphia

Area 19104 (19104)

Zoning CMX-4

Interior

Hot Water None

Heating None

Cooling None

Heat Source None

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID NO TAX RECORD

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

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Joseph Lam

+1(856) 305-8329

Broker Associate | License ID: 0682262

Broker Associate License ID: 0682262

4206-08 CHESTNUT Philadelphia, PA 19104

Joseph Lam

Key Details

Location

Interior

Exterior

Building

Schools

Others

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4206-08 CHESTNUT