Description
Welcome to 4614 Spruce Street, a SHOVEL-READY multi-family development opportunity located in one of the most sought-after neighborhoods for investment in West Philadelphia - Garden Court. This prime lot is fully approved to construct an ultra-luxury 8 unit residential apartment building, with all the required PLANS & PERMITS with a non-graduated 10 YEAR TAX-ABATEMENT in place that could save the future owner approximately 470k over ten years. Each unit was designed to maximize the achievable rent per square foot, targeting professional tenants seeking owner-quality rentals, conveniently accessible to University City schools and hospitals. The current owners collaborated with prestigious John Toates Architecture & Design to draw up the plans and MEPs, which are available upon request. The existing structure is a 3,413 sq ft Victorian twin with a beautiful masonry facade on a 3,360 sq ft lot (21'x160'), zoned RM-1. Plans call for a large addition on the rear, bringing the total building square footage area to approximately 9,500 sq ft. The photos are of a similar project for reference.
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0BEDS
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0.08ACRES
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0BATHS
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01/2 BATHS
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3,360SQFT
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$250$/SQFT
Description
Welcome to 4614 Spruce Street, a SHOVEL-READY multi-family development opportunity located in one of the most sought-after neighborhoods for investment in West Philadelphia - Garden Court. This prime lot is fully approved to construct an ultra-luxury 8 unit residential apartment building, with all the required PLANS & PERMITS with a non-graduated 10 YEAR TAX-ABATEMENT in place that could save the future owner approximately 470k over ten years. Each unit was designed to maximize the achievable rent per square foot, targeting professional tenants seeking owner-quality rentals, conveniently accessible to University City schools and hospitals. The current owners collaborated with prestigious John Toates Architecture & Design to draw up the plans and MEPs, which are available upon request. The existing structure is a 3,413 sq ft Victorian twin with a beautiful masonry facade on a 3,360 sq ft lot (21'x160'), zoned RM-1. Plans call for a large addition on the rear, bringing the total building square footage area to approximately 9,500 sq ft. The photos are of a similar project for reference.
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