5235 Chestnut Street
Philadelphia, PA 19139
- – beds
- – baths
- – sqft
- ~3/4 acre lot
Presenting 5235 Chestnut Street, an entitled development site for a transit-oriented, 204-unit multifamily development in the heart of West Philadelphia, located within a Qualified Opportunity Zone. This development will be a game-changer for this part of West Philadelphia, offering new apartment units in a high-demand area of the city, with easy access to transit and access to the historic 52nd Street Commercial Corridor, known as “West Philadelphia’s Main Street”. This exciting offering is a great opportunity for developers and investors to build a first-class apartment development on a long-vacant parcel. This development is located within the Mixed Income Neighborhood Overlay, a zoning overlay that requires new construction residential projects to have 20% of units be rent restricted based on a set of specific criteria. This allows this project to be accessible to tenants of different income backgrounds and be a new development that contributes to housing affordability in the community. It also provides opportunities for a developer to pursue certain financial benefits/incentives, including low-income housing tax credits. The property comes with approved zoning permits and plans and is ready for the right builder to get started and bring this part of West Philadelphia into its next exciting chapter!
Last checked:
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Last updated Oct 18, 2024
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MLS# PAPH2410760 —
Financial & Terms
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Sale Type:Standard
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Possession:Immediate
Location
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Directions:5200 block of Chestnut Street
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Latitude:39.95888900
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Longitude:-75.22619600
The Property
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Property Subtype:Land
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Property Type:Land
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Current Use:Vacant
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Lot Size Units:Square Feet
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Lot Size Acres:0.64
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Lot Size Source:Estimated
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Lot Features:Irregular
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Lot SqFt:28,049 Sqft
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Additional Parcels:No
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Zoning:CMX25
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Water View:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Farm Land Preservation:No
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Land Use Code:RB
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Ground Rent Exists:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (215) 805-8620
- Office phone:
- (215) 735-7368
Taxes
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Tax ID Number:885691640
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Tax Year:2025
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Tax Lot:192
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Tax Annual Amount:$7,814
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Tax Assessed Value:$78,300
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Year Assessed:2024
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School Tax:613.0
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City/Town Tax:482.00
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Total Taxes Payment Frequency:Annually
Utilities
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Sewer/Septic:Public Sewer
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Water Source:Public
Schools
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School District Name:Philadelphia City
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School District Source:Listing Agent
The Community
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HOA:No
Extra Units
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Vacation Rental:No
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/17/24
Oct 17, 2024
|
Listed / Active | BRIGHT | $5,100,000 |
