4050 LUDLOW ST

Philadelphia, PA 19104

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Listing Price

$6,600,000

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Jen Feinberg

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Key Details

Property Type: Commercial

Sub Type: Land for Commercial Use

Listing Status: Active

Purchase Type: For Sale

Lot Size: 9,503 Sqft

Year Built: 1970

MLS Listing ID: PAPH917366

Subdivision: University City

Short Sale: No

HOA Y/N: N

Originating MLS: BRIGHT

Property Description

4050 Ludlow is a SHOVEL READY development site with BUILDING PERMITS and MEP's in place for a 7 story mid-rise apartment building. The design calls for below grade parking with 18 spaces, and 95 residential units in the above floors. The residential units will be one bedroom and studios making the lease up exceptionally easy as these are the unit types across Philadelphia in the highest demand. The layouts also create incredible value as these units consistently garner the highest price per/sf in the city and this sub market. This project is in the very core of the University City sub-market in Philadelphia, an extension of Center City that is seeing incredible growth and demand. There are high barriers to entry in the sub market with development sites quickly drying up. Preliminary drawings will be included with the sale of the property. We believe this is an incredible opportunity to acquire a property with the approved zoning permit in hand in the heart of one of the most exciting sub markets in the North East Corridor.

Location

State: PA

County: Philadelphia

Area: 19104 (19104)

Zoning: CMX4

Interior

Hot Water: Other

Heating: Other

Cooling: Other

Inclusions: Zoning Permit for 96 residential units and 36 parking spaces.

Heat Source: Other

Exterior

Waterfront: N

Water Access: N

Accessibility: Other

Parking Type: On Street

Garage: N

Building

Lot Dimensions: 125.00 x 68.00

Sewer: Public Sewer

Water: Public

New Construction: N

Schools

School District: The School District Of Philadelphia

Others

Tax Amount: $6,156

Tax Year: 2020

Tax ID: 773013000

Ownership: Fee Simple

SqFt Source: Assessor

Acceptable Financing: Cash,Conventional,Other

Special Sale: Standard

Property History

Date Event Price Source

    Neighborhood Demographic

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