$495,000

1901 E Cumberland St

PHILADELPHIA PA, 19125

Description

For sale is a unique and rarely offered opportunity in one of the city's hottest areas...East Kensington! This corner lot is now zoned CMX2 and is shovel ready (everything is ready to go) for a 2 level commercial space with 2 bi-level apartments/condos above with individual roof decks. The seller is willing to sell the plans for the price listed above, and allow you to complete the construction (seller has architect, builder, zoning attorney, and liquor attorney already in place and familiar with the project if buyer would like to work with them). Or, the seller is willing to build the structure and sell the completed project for a different price (inquire with listing agent for details). The seller has already presented to the East Kensington Neighbors Association and gained their support of the project. This area is a hotbed for residential development where it's difficult to walk more than a block without seeing new construction. This is a great opportunity for a savvy investor/buyer to rent all 3 units (Airbnb is also an option), condo out the residential units and sell them off, or operate the commercial space and live in a unit above. Potential rents for the 2 bedroom units are $2,000/month each, with potential rent of $4,500/month for the commercial space. Lots of upside here! Please don't hesitate with any questions/inquiries.

Details

MLS#PAPH808826
StyleIndustrial
Sub-TypeResale
StatusActive
Year0
Days On Site91

Features

SQ Feet3,400
Story(s)0
Units3
ZoningCMX2

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Area Information

StatePA
CityPHILADELPHIA
Zip Code19125
Area19125 (19125)
Listing VS Median (in 19125)
Price:
$495,000
low | high
Med:
$319,900
85.373737373737% of Average
SqFt:
3,400
low | high
Med:
1,466
100% of Average
$ / SqFt:
$146
low | high
Med:
$218
2% of Average
On Site:
91
low | high
Med:
38.5
100% of Average
Listing Updated: 09/17/2019
MLS Number: PAPH808826
Listing Provided By:
Ryan C Garrity  of  Copper Hill Real Estate LLC
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