Introducing 17 North, a shovel-ready Opportunity Zone development site in Philadelphia, PA. Investors/buyers can defer capital gains into the purchase of this property; take advantage of these lucrative tax benefits. One hundred billion dollars in capital are expected to spur development in these specially designated and highly coveted zones.This project is to be sold shovel-ready with all necessary permits, plans + approvals to build eight (8) new townhomes with garage parking in the booming Francisville north submarket of PHL. Each townhome features 3bd x 2.5ba with 2225 SF. Open concepts, mud rooms, skyline roodecks, private garage parking for each unit. Center drive aisle for easy vehicular access from 17th St. Projected outsales are 3.6M (450k/unit). Pro forma NOI = 245k. Pro forma cap rate = 6.8 per cent. Each unit should rent for 3000/mo. 10 year tax abatement applied for and deliverable to new owner. Architectural design by reputable local firm. Booming residential submarket sandwiched by North Broad (east), Francisville (south), TempleU (north) and Sharswood/Brewerytown (west).
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
