5235 Chestnut StPhiladelphia, PA 19139

Property Details for 5235 Chestnut St

Lot size

0.12 AC

Zone code

CMX2.5

Property type

Parking lots & garages

APN

88-5-6916-40

APU

885691640

Description

This exceptional 28,049 square foot commercial land parcel in Philadelphia, PA (zip code 19139, located at 5235 Chestnut St), is zoned CMX-2.5 and offers a unique opportunity for developers. The site is fully entitled for a 204-unit multifamily development, perfectly situated within a Qualified Opportunity Zone and the Mixed Income Neighborhood Overlay. This prime location provides easy access to public transportation and the vibrant 52nd Street commercial corridor, known as "West Philadelphia's Main Street." The approved plans and permits are in place, eliminating significant pre-construction hurdles. The project's inclusion in the Mixed Income Neighborhood Overlay mandates 20% of units be rent-restricted, promoting housing affordability and potentially opening doors to financial incentives like low-income housing tax credits. This is a turnkey opportunity to construct a high-demand, transit-oriented apartment complex in a rapidly developing area of West Philadelphia. The asking price for this exceptional development site is $5,100,000. This long-vacant parcel is ready for immediate development, presenting a compelling investment opportunity for experienced developers seeking to contribute to the revitalization of West Philadelphia.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9589

Longitude

-75.2262

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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