Total of 12,867sf of land in West Philadelphia zone CA-1 / RSA5. Proposed use to Build 34 Apartment Units, no plans or permits in hand. All due diligence the responsibility of the purchaser.
The prior building was damaged in a building fire and the existing structure was demolished.
Assumptions
-34 800sf Apartments @ $1,100 per month rents
-Sub 20% Expense Ration with Philadelphia Tax Abatement
-Projected NOI: $370,000
-Stabilized Value: $5,300,000 @ 7% Cap Rate
Clear and Vacant Lot
Signalized Corner Location
High demand for rental units
Easy access to Center City and i76

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