346 Queen LnPhiladelphia, PA 19144

Property Details for 346 Queen Ln

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 4,380 square foot lot in Philadelphia, Pennsylvania, presents a prime opportunity for multifamily development. Located at 346 W Queen Ln, in the desirable Northwest Philadelphia area, straddling East Falls and Germantown, this property boasts 52 feet of frontage. The site is zoned CMX25 and has approved plans for a five-story, 21-unit building. The proposed development includes 16 one-bedroom, one-bathroom apartments and 4 two-bedroom, two-bathroom apartments, along with ground floor commercial space, storage, a fitness center, amenity space, and a green roof terrace offering stunning city views. The building will be constructed using wood frame construction and will encompass approximately 19,697 square feet. This location offers easy access to public transportation (Queen Lane Septa Station), local amenities, schools (Germantown Friends School, William Penn Charter School, Thomas Jefferson University), and recreational facilities (Germantown Cricket Club). The property is eligible for a 10-year tax abatement, allowing for tax payments based on assessed land value rather than the improved property value. This presents a unique investment opportunity in a high-growth area with strong potential for rental income and appreciation, situated within a top-10 US MSA. Detailed plans, permits, and pro forma are available upon request.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0256

Longitude

-75.1749

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