2123 Broad StPhiladelphia, PA 19122

For Sale
$949,999

Prime Philadelphia multifamily site.

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional 19,200 square foot development parcel is located at 2123 N Broad St, Philadelphia, PA 19122, within the North Broad District and Temple University submarket. Zoned CMX-25, this property offers a compelling opportunity to construct a 22-unit (44-bed) multifamily building with 700 square feet of commercial space. The site benefits from its proximity to Temple University, Philadelphia's largest university, ensuring strong rental demand. Its transit-oriented location further enhances its appeal. This development site is eligible for a 10-year tax abatement, allowing for payment of taxes on the assessed land value only during that period. The asking price is $949,999, presenting an attractive land basis for a sound investment thesis in a high-growth area supported by robust rental fundamentals. The property is situated in a Qualified Opportunity Zone (QOZ), offering additional investment incentives. This is a rare chance to capitalize on the thriving Temple University submarket and its consistent student population.

Highlights

  • 19,200 SF development parcel in Philadelphia's North Broad District, near Temple University.
  • CMX-25 zoning allows for a 22-unit (44-bed) multifamily building with 700 SF of commercial space.
  • Transit-oriented location with strong rental demand due to proximity to Temple University.
  • Eligible for a 10-year tax abatement and located in a Qualified Opportunity Zone (QOZ).
  • Asking price: $949,999.

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9853778
Longitude
-75.1559388
2123 Broad St, Philadelphia, Pennsylvania

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2123 Broad St
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