5235 Chestnut Street
$5,100,000
28,049 / 0.64
Description
Presenting 5235 Chestnut Street, an entitled development site for a transit-oriented, 204-unit multifamily development in the heart of West Philadelphia, located within a Qualified Opportunity Zone. This development will be a game-changer for this part of West Philadelphia, offering new apartment units in a high-demand area of the city, with easy access to transit and access to the historic 52nd Street Commercial Corridor, known as “West Philadelphia’s Main Street”. This exciting offering is a great...Presenting 5235 Chestnut Street, an entitled development site for a transit-oriented, 204-unit multifamily development in the heart of West Philadelphia, located within a Qualified Opportunity Zone. This development will be a game-changer for this part of West Philadelphia, offering new apartment units in a high-demand area of the city, with easy access to transit and access to the historic 52nd Street Commercial Corridor, known as “West Philadelphia’s Main Street”. This exciting offering is a great opportunity for developers and investors to build a first-class apartment development on a long-vacant parcel. This development is located within the Mixed Income Neighborhood Overlay, a zoning overlay that requires new construction residential projects to have 20% of units be rent restricted based on a set of specific criteria. This allows this project to be accessible to tenants of different income backgrounds and be a new development that contributes to housing affordability in the community. It also provides opportunities for a developer to pursue certain financial benefits/incentives, including low-income housing tax credits. The property comes with approved zoning permits and plans and is ready for the right builder to get started and bring this part of West Philadelphia into its next exciting chapter!
- Listed by Dennis J Carlisle • OCF Realty LLC - PhiladelphiaP: (215)-805-8620 dennis@ocfrealty.com
Property Details for 5235 Chestnut Street
Tax ID Number
885691640
OwnershipFee Simple
HOANo
WaterfrontNo
GarageNo
MunicipalityPHILADELPHIA
Central AirNo
Construction CompletedNo
LISTING UPDATED: 10/17/2024 01:57 PM
Property Details for 5235 Chestnut Street
Status | Active |
---|---|
MLS # | PAPH2410760 |
Days on Market | 36 |
Taxes | $7,814 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land / Fee Simple |
Year Built | - |
Lot Size | 0.64 AC |
County | Philadelphia County |
Building Information for 5235 Chestnut Street
Lot Size0.64 AC
Property Information for 5235 Chestnut Street
Property History for 5235 Chestnut Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 5235 Chestnut Street
This home is within The School District of Philadelphia.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Charter - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Global Leadership Academy Charter Southwest A CharterK to 8 | ||
Sayre William L Middle School Public9 to 12 | ||
The Workshop School Public9 to 12 | ||
Parkway West Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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