$ 3,600,000
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$3,600,000
Price -
0
Bed -
0
Bath -
0
SqFt
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About the Listing MSCRE1 - 3294193
5235 Chestnut Street offers the opportunity to acquire a multifamily development site approved for 204 residential units in West Philadelphia. The project has been designed entirely within the parameters of CMX-2.5 zoning and benefits from an issued zoning permit, completed Civic Design Review, a completed Streets Department developer-services meeting, and a clean phase 1 ERSA study. Located in an Opportunity Zone census tract adjacent to the 52nd Street Market-Frankford Line station and the historic 52nd Street commercial corridor, the project has been planned as a transit-oriented, car-free development without structured parking requirements, creating a meaningful construction cost advantage. The unit mix emphasizes smaller, efficient layouts designed to maximize density and rent-per-square-foot performance. The property is subject to the Mixed Income Neighborhood Overlay. The required affordable housing component consists of 41 rent-restricted units, which may be satisfied through Housing Choice Voucher tenants. Current Philadelphia Housing Authority payment standards greatly exceed traditional 40% AMI rent levels, providing additional flexibility in executing the project's affordability requirements. With key approvals already secured and substantial predevelopment work completed, 5235 Chestnut Street provides developers with a clear path toward construction while avoiding one of the most significant risks in the Philadelphia entitlement process.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Vacant Land
MLS ®
PAPH2635886
Year Built
Total Square Footage
0
Lot/Acreage
0.64
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Irregular,Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Zoning: CMX25
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $2,557
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
5235 Chestnut St Philadelphia, PA 19139
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