167 Cumberland StPhiladelphia, PA 19133

Property Details for 167 Cumberland St

Property type

Land

Description

This exceptional 855 sq ft lot in Philadelphia's Norris Square neighborhood presents a prime development opportunity. Zoned RM1, this fee simple property allows for the construction of a three-story building with two residential units, as-of-right. The lot is currently vacant, offering a blank slate for customized development. Potential exists for an egress basement, maximizing usable space. Each unit projects a rental income of approximately $1700 per month, based on an average after repair value exceeding $535,000. The property's adjacency to another vacant lot ensures ample space and development flexibility. This location benefits from significant recent development activity in the immediate vicinity, making this a highly lucrative investment in a rapidly growing area. The property is located at 167 W Cumberland St, Philadelphia, PA 19133. This is a rare chance to capitalize on the strong rental market in a desirable Philadelphia neighborhood. The asking price is $70,000.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9883

Longitude

-75.1343

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