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304 Cherry St - 304 Cherry St
0.04 Acres of Residential Land Offered at $1,200,000 in Philadelphia, PA 19106
Investment Highlights
- The site is zoned CMX-3 and is currently 6 individual condominium parking space.
- The property is surrounded by numerous thriving bars, restaurants, and retail shops.
- At last count, 1,300 new luxury condos and townhouses were approved, under construction or just finished.
- If a prospective buyer would prefer to develop the site, the sellers would sign a consolidated deed and sell the site as one parcel.
- New apartments and condos propagate even as rents and prices per square foot rise.
Executive Summary
The sellers had a zoning permit in 2015 approved for the following:
- (2) Single Family Homes
- 6-Stories Each
- (1) Covered Parking Spot Each
- Zoning documents that were previously approved are linked in the Marketing Brochure.
If a prospective buyer would prefer to develop the site, the sellers would sign a consolidated deed (already drafted and available) and sell the site as one parcel. The CMX-3 zoning is a favorable zoning that allows for commercial mixed-use development, by right. In order for a buyer to obtain a zoning permit to build (2) Single Family Houses, they would need to re-submit architectural drawings to the City of Philadelphia for approvals. Any prospective buyer should engage an architect for development possibilities.
Property Facts
| Price | $1,200,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.04 AC |
| Price | $1,200,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.04 AC |
1 Lot Available
Lot
| Price | $1,200,000 | Lot Size | 0.04 AC |
| Price Per AC | $31,096,139 |
| Price | $1,200,000 |
| Price Per AC | $31,096,139 |
| Lot Size | 0.04 AC |
The site is currently 6 individual condominium parking spaces being rented on a month-to-month basis. Sellers had a zoning permit in 2015 approved for the following, 2 Single Family Homes , 6-Stories Each, 1 Covered Parking Spot Each. Links in OM.
Description
MPN Realty is proud to exclusively present the sale of 304 Cherry Street Philadelphia, PA 19106. The site is zoned CMX-3 and is currently 6 individual condominium parking spaces. The parking spaces are rented on a month-to-month basis. The sellers had a zoning permit in 2015 approved for the following: - (2) Single Family Homes - 6-Stories Each - (1) Covered Parking Spot Each - Zoning documents that were previously approved are linked the Marketing Brochure. If a prospective buyer would prefer to develop the site, the sellers would sign a consolidated deed (already drafted and available) and sell the site as one parcel. The CMX-3 zoning is a favorable zoning that allows for commercial mixed-use development, by right. In order for a buyer to obtain a zoning permit to build (2) Single Family Houses, they would need to re-submit architectural drawings to the City of Philadelphia for approvals. Any prospective buyer should engage an architect for development possibilities.
zoning
| Zoning Code | CMX3 (primarily intended to accommodate community- and region-serving retail and service uses.) |
| CMX3 (primarily intended to accommodate community- and region-serving retail and service uses.) |
Presented by
304 Cherry St - 304 Cherry St
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