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4050 Ludlow st
Philadelphia, PA 19104
University City Development · Land For Sale · 0.22 AC
Investment Highlights
- Shovel-Ready with Approvals: The site is shovel-ready with zoning permits in place, streamlining the development process.
- Top Amenities and Zoning: CMX4 zoning for a 7-story building with a fitness center, rooftop patio, and 18-space parking garage.
- Prime Location: In University City, close to Penn Hospital, Penn University, Drexel University, and the Market-Frankford SEPTA Line.
- High-Demand Units: 97 one-bedroom and studio apartments, the most sought-after in Philadelphia, ensuring strong rental income.
Executive Summary
Zoned CMX4, this property is strategically located in the thriving city of Philadelphia, a bustling hub of commerce and industry. The development of this building will add to the high demand need for housing in university city. With the expansion of both University of Pennsylvania and Drexel University, plus Children's Hospital of Philadelphia and school for the sciences demand for multi family housing in the heart of University city has not waned.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | Multifamily |
| Property Type | Land | Total Lot Size | 0.22 AC |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.22 AC |
1 Lot Available
Lot
| Price | $6,000,000 | Lot Size | 0.22 AC |
| Price Per AC | $27,502,876 |
| Price | $6,000,000 |
| Price Per AC | $27,502,876 |
| Lot Size | 0.22 AC |
9,503 sq ft ready-to-develop site with zoning permits for a 7-story apartment building, planned for 97 residential units.
Description
4050 Ludlow Street is a ready-to-develop site with zoning permits for a 7-story apartment building. The 9,503 square foot lot is zoned CMX4, allowing for a high-density project. The planned building will have 97 residential units, including a mix of one-bedroom and studio apartments, which are in high demand. It will also feature a fitness center, bicycle storage, a rooftop patio, and an 18-space parking garage. Located in University City, close to Penn Hospital, Penn University, Drexel University, and the SEPTA Market-Frankford Line, this site is in a rapidly growing area with high tenant demand. It's a great opportunity to develop a prominent property in a vibrant and expanding neighborhood.
PROPERTY TAXES
| Parcel Number | 773013000 | Improvements Assessment | $3,052,175 |
| Land Assessment | $847,825 | Total Assessment | $3,900,000 |
PROPERTY TAXES
zoning
| Zoning Code | CMX-4 (There is one community commercial mixed use (CMX-3) and two Center City commercial mixed-use (CMX-4 and CMX-5) zoning districts. These zoning district) |
| CMX-4 (There is one community commercial mixed use (CMX-3) and two Center City commercial mixed-use (CMX-4 and CMX-5) zoning districts. These zoning district) |
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