For Sale
$2,200,000

2401 North St Philadelphia, PA 19133

114-Unit Apartment Building Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 86,575 sq ft lot in Philadelphia, PA (zip code 19133), presents a unique multifamily development opportunity. Located just a short walk from Temple University's main and medical campuses, this two-acre parcel offers unparalleled access to a large student population. Previously approved for 259 assisted living or market-rate housing units (approvals expired, but reinstatement is possible), this site boasts a low acquisition cost of under $25 per square foot, making it financially attractive for various development projects. Its central urban location provides convenient access to SEPTA's Regional Rail system and Amtrak, connecting to New York City. The asking price is $2,200,000, with a price per unit of $19,298.25 based on the previously approved unit count. The property's address is 2401 North St, Philadelphia, Philadelphia County, Pennsylvania. This is a rare chance to acquire a substantial land parcel in a high-demand area with significant potential for substantial returns. The site's proximity to major transportation hubs and educational institutions makes it an ideal location for a variety of housing developments. Investors should note that while previous approvals exist, the variance process will need to be repeated for any new development plans.

Highlights

  • 86,575 sq ft lot in Philadelphia, PA (19133), ideal for multifamily development.
  • Two-acre parcel near Temple University's campuses, offering access to a large student population.
  • Previously approved for 259 units (approvals expired, but reinstatement possible); low acquisition cost under $25/sq ft.
  • $2,200,000 asking price; $19,298.25 price per unit (based on previous approval).
  • Located at 2401 North St, Philadelphia, PA, with convenient access to SEPTA and Amtrak.

Property Details for 2401 North St

Property type
Apartment buildings
Units
114

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9938284
Longitude
-75.1399443

FAQs

What type of property is this?
Apartment building - 114-Unit Apartment Building Opportunity
Where is the apartment building located?
The property is located at 2401 North St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 86,575 sq ft lot in Philadelphia, PA (19133), ideal for multifamily development.; Two-acre parcel near Temple University's campuses, offering access to a large student population.; Previously approved for 259 units (approvals expired, but reinstatement possible); low acquisition cost under $25/sq ft.
How can I contact the broker?
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2401 North St
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