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Key Details
Sold Price $570,000
Property Type Vacant Land
Sub Type Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PAPH2315124
Sold Date 02/20/24
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $3,317
Tax Year 2022
Lot Size 0.251 Acres
Acres 0.25
Lot Dimensions 130.00 x 80.00
Property Description
2821 W. Sedgley Avenue is a shovel-ready ground-up development project in Philadelphia's Brewerytown neighborhood. Priced at $19,960 per buildable unit.
The offering consists of approximately 11,043 square feet of fully approved RM-1 zoned land. The project comes complete with plans and permits, allowing new owners to construct a 33,332-square-foot multifamily building with 30 units right away. The development will also feature various amenities, including bicycle storage, a secure mail and package room, controlled entrances, a club lounge common area, a study lounge/co-working space, and a rooftop deck with stunning views of Center City's skyline. Moreover, 2821 W. Sedgley Avenue is offered with a full 10-year Tax Abatement, enabling new owners to defer taxes on the newly built improvements for the first ten years. The client recently completed 2820 Diamond St, a 33-unit multifamily building demonstrating momentum in the area.
Located in Brewerytown, 2821 W. Sedgley Avenue is positioned to be part of a neighborhood undergoing rapid development and an influx of new residents. It's situated in proximity to local amenities, landmarks, and educational facilities, making it an attractive option for young professionals. Brewerytown is within one mile of the Philadelphia Museum of Art, Temple University, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Park. The location also provides easy access to Center City and the surrounding suburbs via Ridge Avenue, Girard Avenue, I-76, I-676, and Route-1.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Exterior
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
Schools
School District The School District Of Philadelphia
Others
Tax ID 885632880
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Leighanne Tancredi • United Real Estate