990 Tabor RdPhiladelphia, PA 19141

For Sale
$750,000

Prime Philadelphia land, 77 unit potential.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 0.49-acre commercial lot at 990 W Tabor Rd, Philadelphia, PA 19141, presents a compelling investment opportunity. Priced at $750,000 ($34.94/sq ft), this fee-simple property (APN 885376340) offers a "by-right" development opportunity for up to 77 residential units, eliminating the need for zoning variances. The CMX-2 zoning allows for immediate development. Situated in Philadelphia's Olney section, adjacent to Einstein Hospital, this location benefits from a robust medical employment hub, including Temple University Hospital and Shriner's Hospital for Children. The property's proximity to the Fern Rock Transportation Center provides convenient access to public transportation, with a short commute to Center City. Further enhancing its appeal, this site is located within a Federal Opportunity Zone, offering potential tax incentives, and includes a 10-year tax abatement. The 16,940 square foot lot presents a unique chance to capitalize on the high demand for housing near major medical centers and public transit. This vacant land offers a streamlined path to developing a thriving residential community, making it an ideal investment for developers seeking a high-return project in a prime Philadelphia location.

Highlights

  • $750,000 asking price, $34.94/sq ft.
  • Fee-simple ownership, APN 885376340.
  • By-right development for up to 77 residential units, CMX-2 zoning.
  • Located in Olney, Philadelphia, near Einstein Hospital and public transportation.
  • Federal Opportunity Zone designation with potential tax incentives and 10-year tax abatement.
  • 16,940 square foot lot.

Property Details for 990 Tabor Rd

Property type
Other land, Land
Lot Size (sq. ft)
21,344 SF

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.0365861
Longitude
-75.1380278
990 Tabor Rd, Philadelphia, Pennsylvania

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990 Tabor Rd
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