Philadelphia, PA 19121,2821-27 W SEDGLEY AVE

$570,000

$599,000

4.8%
Est.Price: ?

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Est. payment /mo

0.25 Acres Lot


SOLD DATE : 02/20/2024

Key Details

Sold Price $570,000

Property Type Vacant Land

Sub Type Land

Listing Status Sold

Purchase Type For Sale

MLS Listing ID PAPH2315124

Sold Date 02/20/24

HOA Y/N N

Originating Board BRIGHT

Annual Tax Amount $3,317

Tax Year 2022

Lot Size 0.251 Acres

Acres 0.25

Lot Dimensions 130.00 x 80.00

Property Description

2821 W. Sedgley Avenue is a shovel-ready ground-up development project in Philadelphia's Brewerytown neighborhood. Priced at $19,960 per buildable unit.

The offering consists of approximately 11,043 square feet of fully approved RM-1 zoned land. The project comes complete with plans and permits, allowing new owners to construct a 33,332-square-foot multifamily building with 30 units right away. The development will also feature various amenities, including bicycle storage, a secure mail and package room, controlled entrances, a club lounge common area, a study lounge/co-working space, and a rooftop deck with stunning views of Center City's skyline. Moreover, 2821 W. Sedgley Avenue is offered with a full 10-year Tax Abatement, enabling new owners to defer taxes on the newly built improvements for the first ten years. The client recently completed 2820 Diamond St, a 33-unit multifamily building demonstrating momentum in the area.


Located in Brewerytown, 2821 W. Sedgley Avenue is positioned to be part of a neighborhood undergoing rapid development and an influx of new residents. It's situated in proximity to local amenities, landmarks, and educational facilities, making it an attractive option for young professionals. Brewerytown is within one mile of the Philadelphia Museum of Art, Temple University, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Park. The location also provides easy access to Center City and the surrounding suburbs via Ridge Avenue, Girard Avenue, I-76, I-676, and Route-1.

Location

State PA

County Philadelphia

Area 19121 (19121)

Zoning RM1

Exterior

Water Access N

Garage N

Building

Sewer Public Sewer

Water Public

Schools

School District The School District Of Philadelphia

Others

Tax ID 885632880

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Philip Sharrow • Scope Commercial Real Estate Services, Inc.
Bought with Leighanne Tancredi • United Real Estate
Nina Bavosa

Agent | License ID: 2080701

+1(908) 510-9094 | nina@ninasellsnj.com

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