3528 Mt Vernon St Philadelphia, PA 19104
Prime development site near University City with tax abatement eligibility.
Type:Land
- Added:
- Aug 8, 2024
- Days on Market:
- 621
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 3528 Mt Vernon St
General Information
- Standard status
- Active
- Property subtype
- Land
Listing agent Agent PHL License #Pennsylvania RS316262
Listing office The Oceanside Realty Team
Listing date Aug 8, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of The Oceanside Realty Team
Overview
Opportunity Zone Multifamily Development Site
This property at 3528 Mount Vernon is a prime opportunity zone multifamily development site located in the University City submarket of Philadelphia, Pennsylvania. The site is suitable for a proposed 19,500 square foot structure with 18 units, containing 46 beds. The location benefits from robust rental demand and proximity to the 'Eds and Meds' economic engine, with billions of dollars invested in active developments nearby. These include the Science Center, Schuylkill Yards, Amtrak’s 30th Street Station master plan, and expansion efforts from the University of Pennsylvania and Drexel University. The property can be positioned for student housing, young professionals, academics, and post-graduates. Penn Presbyterian, HUP, and CHOP healthcare systems operate nearby. The property is eligible for a 10-year tax abatement, allowing the owner to pay taxes on the assessed land value rather than the assessed value of the future improved structure.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.194305
- Latitude
- 39.964252
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Prime development site near University City with tax abatement eligibility.
Where is this commercial land located?
The property is located at 3528 Mt Vernon St Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Prime QOZ (Opportunity Zone) location in University City, Philadelphia.; 10‑year tax abatement eligibility.; Multifamily development opportunity with 18 units (46 beds) in a proposed 19,500 SF structure.
