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5235 Chestnut St
For Sale $5,100,000
$5,100,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 28,049 Sq Ft
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 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!
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $5,100,000 |
| Property Type | Lots/Land |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 0 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 885691640 |
| MLS # | PAPH2410760 |
| Property ID | 320960759 |
| Lot Sqft | 28,049 |
| Zoning | CMX25 |
| Days on Market | 78 |
| Original List Price | Unknown |
| Date Updated | October 17, 2024 |
| Date Created | October 16, 2024 |
Listing Provided By
Dennis J Carlisle an agent of . Lic #RS330429
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Data last updated: January 02, 2025.
Robert Crawford
REAL ESTATE AGENT