Shovel-ready multifamily development parcel located just above the booming Brewerytown and Sharswood sections of Philadelphia, Pennsylvania. This property will be delivered fully-entitled to build a 3346 SF 4-story triplex. Unit A is a 3bd x3 ba bi-level unit (lower level/1st) with 1182 SF. Unit B is a 1bd x1ba full floor flat (2nd) with 554 SF. Unit C is a 3bdx 3ba bi-level unit (3rd/4th) with 1326 SF and private roofdeck with city views. This area is experiencing surging appreciation. Easy access into major employment hubs Center City and University City. Property will qualify for Philadelphia's 10yr tax abatement. Also located in Qualified Opportunity Zone which has already proven to spur widespread real estate development in this area. Pro forma gross annual rent: 60K; Pro forma gross annual expenses: 9K; Pro forma NOI: 51K; Pro forma cap rate: 8%.
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