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4050 Ludlow St
Philadelphia, PA 19104

Development Site · Multifamily Property For Sale · 94 Units

INVESTMENT HIGHLIGHTS

  • Buyer will receive a 10-year tax abatement on this shovel-ready redevelopment site with approved plans for a 7-story mid-rise apartment building.
  • Opportunity to receive incredible price per square footage returns from highly in-demand one-bedroom and studio apartment unit layouts.
  • Approved plans feature a 94-unit apartment complex with a common rooftop patio, fitness center, and an 18-space below-grade private parking garage.
  • Located in the University City submarket with easy access to Penn Hospital, Penn University, Drexel University, and the Market-Frankford SEPTA Line.

PROPERTY FACTS

No. Units 94
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 0.22 AC
Construction Status Proposed
Building Size 57,214 SF
No. Stories 7
Year Built 2025
Parking Ratio 0.31/1,000 SF

SITE AMENITIES

  • 24 Hour Access
  • Fitness Center
  • Bicycle Storage
  • Sundeck

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 42 $1,535 -
1+1 52 $1,700 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
773013000
Land Assessment
$847,825
Improvements Assessment
$3,052,175
Total Assessment
$3,900,000

ZONING

Zoning Code CMX4 (Second highest available zoning classification in Philadelphia.)
CMX4 (Second highest available zoning classification in Philadelphia.)
  • Listing ID: 20782236

  • Date on Market: 8/28/2020

  • Last Updated:

  • Address: 4050 Ludlow St, Philadelphia, PA 19104

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