5101 WESTMINSTER AVENUE, Philadelphia, PA 19131

Land
Built in ——
0.59acre lot
—— car garage
$——/sqft
Listed 2 months ago

Property Description

Introducing a remarkable ±25,420 SF corner lot in vibrant West Philadelphia, ideal for your next multifamily development project! This shovel-ready site comes complete with paid permits valued at over $40,000 and detailed plans to construct an impressive 74-unit residential building. Enjoy unparalleled access to the dynamic University City area, a bustling "eds and meds" innovation hub featuring prestigious institutions like the University of Pennsylvania, Drexel University, CHOP, and the Science Center, alongside the thriving Schuylkill Yards and 30th Street Station. This prime location is truly at the heart of the Philadelphia real estate market and is poised for substantial appreciation in the coming years, thanks to its proximity to cutting-edge advancements in education, healthcare, life sciences, business, and technology. The demand for high-quality housing in this area has never been more critical, making this an incredible opportunity to buy and build! Your new development will include a range of apartments—studios, one-bedroom, and two-bedroom units—complete with parking in an elegant five-story structure. Benefit from a significant 10-year tax abatement, allowing for increased returns on investment. Don’t miss out on this extraordinary chance to transform a prime location into much-needed housing. For additional insights on the pro forma, plans, and permits, please reach out. Remember, the buyer is responsible for verifying taxes, square footage, and entitlements during due diligence. Take the next step in shaping Philadelphia's future today!

Listing Status:: Active
Date Added:: April 16, 2025 at 05:00AM
Listing Office:: Tesla Realty Group, LLC : 8448375274
Listing Agent:: Steve Burke Jr. : 2674710443
MLS ID:: PAPH2471386

Originating MLS: BRIGHT_MAIN
School District: PHILADELPHIA CITY
County: PHILADELPHIA

This listing courtesy of Steve Burke Jr., Tesla Realty Group, LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

James Rhoads Elementary School

4901 Parrish St, Philadelphia, PA, 19139

Grades KG-8

0.19 miles away

James Rhoads Elementary School

4901 Parrish St, Philadelphia, PA, 19139

Grades KG-8

0.19 miles away

Parkway West

4725 Fairmount Ave, Philadelphia, PA, 19139

Grades 9-12

0.47 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.