1331 Grove StPhiladelphia, PA 19146

Property Details for 1331 Grove St

Property type

Residential income properties

Property subtype

Other land

Description

This 700-square-foot vacant lot, located at 1331 S Grove St in Philadelphia, Pennsylvania (zip code 19146), presents a unique opportunity for residential development. The property, identified by APN 362363800, is offered at $60,000, translating to a land value of $3,000 per square foot. The lot measures approximately 14 feet by 50 feet and is zoned RM-1, permitting multifamily use. This makes it ideal for both buy-and-hold investors seeking rental income or developers interested in constructing condos for individual sale. The property's location offers convenient access to major roadways, public transportation, and the Schuylkill River Trail. The Forgotten Bottom neighborhood is experiencing significant growth, with numerous new construction projects underway in the immediate vicinity, indicating a strong potential for future appreciation. This presents a compelling opportunity for an owner-occupant to build a multi-family dwelling, utilizing rental income from additional units to offset mortgage payments. The ongoing development within the neighborhood further solidifies this property's position as a sound long-term investment. Fee simple ownership is conveyed. Don't miss this chance to capitalize on the burgeoning Philadelphia real estate market.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.938

Longitude

-75.2013

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