Philadelphia, PA 19104,4200-4202 LANCASTER AVE
Philadelphia, PA 19104,4200-4202 LANCASTER AVE
Philadelphia, PA 19104,4200-4202 LANCASTER AVE
Philadelphia, PA 19104,4200-4202 LANCASTER AVE
Philadelphia, PA 19104,4200-4202 LANCASTER AVE
Philadelphia, PA 19104,4200-4202 LANCASTER AVE
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$425,000

$495,000

14.1%
Est.Price: ?

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Est. payment /mo

5,856 SqFt


SOLD DATE : 06/30/2020

Key Details

Sold Price $425,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 5,856 sqft

Price per Sqft $72

Subdivision West Powelton

MLS Listing ID PAPH838096

Sold Date 06/30/20

HOA Y/N N

Originating Board BRIGHT

Year Built 1925

Annual Tax Amount $3,502

Tax Year 2020

Lot Size 2,818 Sqft

Acres 0.06

Lot Dimensions 19.60 x 64.40

Property Description

Large corner development deal in OPPORTUNITY ZONE area of West Philly, right on the edge of Mantua & West Powelton, 3 blocks from Drexel Athletic fields. According to public record, the 2 parcels total 4,574 SF of land area zoned CMX2. Currently there is a shell property approx. 9100 SF interior space that sits across both parcels. If rehabbed, you could add a 3rd story to part of the existing structure to achieve more interior square footage. Or, you could easily demo the existing free standing building and build a 4 story brand new construction building, like what other developers are currently doing 2 blocks away at 40th & Lancaster. The total lot size & zoning allows for you to build 8 residential units above commercial unit(s) on ground level by right. Or take advantage of the cities Mixed Income Housing Program to achieve 2-4 additional residential units AND 7 feet in added building height, WITHOUT needing a variance. Corner property allows for commercial frontage along TWO main streets and tons of windows & natural light in apartments above. This deal is a no brainer long term when you consider surrounding future projects such as the $3.5B Schuylkill Yards Project and the $1B UCity Square Development, all positioning this neighborhood to become a new major East Coast innovation hub. **This is also being marketed as a Commercial, Land - MLS# PAPH837886 and Multi-Family - MLS# PAPH838048 **

Location

State PA

County Philadelphia

Area 19104 (19104)

Zoning CMX2

Interior

Hot Water Other

Heating Other

Cooling Other

Heat Source Other

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 871285400

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Francis Mangubat • Keller Williams Philadelphia
Bought with Francis Mangubat • Keller Williams Philadelphia
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