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Map
$457,513*
●
Land -
Off Market
1901 E CUMBERLAND STREET
PHILADELPHIA, PA 19125
Studio
0 Bath
$396,000 - $482,000
Reference Base Price*
4.00%
Since Oct 1, 2022
National-US
Primary Model
About This Property
Diamond in the rough mixed use land in Fishtown/East Kensington.
The hottest and most in demand area in the city. The plans for this
CMX2 are approved and ready to build. The first floor commercial
property boasts 2 levels with 1,712 square feet, which would be
perfect for an art gallery, wine bar, gastro pub, cafe, etc. This
location already has a built in and growing customer base due to
the enormous increase in residential, new construction housing. You
can apply for pavement permits for tables outside and utilize the
yard to expand your space seasonally. The apartments/condos are 2
bedroom bi-level with 968 square feet each and individual rooftop
decks with views of the beautiful Philadelphia skyline. This
project has the support of the East Kensington Neighbors
Association, which makes for a seamless transition to mark your
place into this community. This is a great opportunity to start a
business and lease the two apartments/condos or lease all the units
building for a great income producing property. You can condo the
two residences, rent them out and sell them at a later date or sell
them off for profit and run or rent the commercial space. You can
live in one residence, rent the other and run your business. The
residences can also produce income via Air B&B. Potential
monthly rents for the 2 bedroom units is $2,300.00 and for the 2
level commercial unit is $4,500.00. So, whether you decide to use
the current builder on the building permit or replace that builder
with your own builder on the permit you will have a new
construction property. New construction typically comes with a one
year builder's warranty, additionally there are warranties on the
mechanicals and appliances, which will assist with a higher income
return and overall value. Another consideration is you can purchase
the land for a lesser sale price and purchase the approved plans in
the same transaction to save thousands on transfer tax/closing
costs. The land plus improvements has been appraised for $1M in
November 2019. The area has historically had a value increase of
5%-10% annually. This is a perfect investment to own a brand new,
income producing property in the hottest neighborhood around. Not
to mention the 10 YEAR TAX ABATEMENT! Building permits and
appraisal available upon request for serious inquiries only. This
is a land only sale.
Unit Size
-
Days on Market
-
Land Size
0.02 acres
Price per sqft
-
Property Type
Land
Property Taxes
$156
HOA Dues
-
Year Built
-
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jan 14, 2024 | No longer available | - | |
No longer available | |||
Sep 29, 2023 | Price Decreased |
$409,900
↓ $30K
(6.8%)
|
|
Price Decreased | |||
Sep 28, 2022 | No longer available | - | |
No longer available | |||
Aug 11, 2022 | Price Decreased |
$439,900
↓ $5K
(1.1%)
|
|
Price Decreased | |||
Jul 29, 2022 | Price Decreased |
$444,900
↓ $5K
(1.1%)
|
|
Price Decreased |
Show More
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Townhouse
4
Beds
4
Baths
3,000 ft²
$142/ft²
$425,000
Apr 4, 2018
$425,000
Jul 6, 2018
-
House
3
Beds
3
Baths
1,920 ft²
$229/ft²
$439,000
May 11, 2023
$439,000
Nov 7, 2023
-
Townhouse
3
Beds
3
Baths
-
$430,000
Mar 10, 2017
$430,000
Jun 2, 2017
-
House
3
Beds
3
Baths
1,920 ft²
$234/ft²
$450,000
May 16, 2023
$450,000
Jul 7, 2023
-
Townhouse
3
Beds
2
Baths
2,200 ft²
$191/ft²
$421,000
Aug 23, 2018
$421,000
Jan 17, 2019
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
01/21/2022
|
|
Loft
|
-
|
-
|
$425,000
Loft
-
|
-
-
|
-
|
Jack Kanagie
RE/MAX One Realty
|
08/18/2020
|
|
Loft
|
-
|
-
|
$425,000
Loft
-
|
-
-
|
-
|
Nigel Richards
Compass Pennsylvania, LLC
|
01/28/2020
|
|
Studio
|
-
|
-
|
$549,900
Studio
-
|
-
-
|
-
|
-
|
06/19/2019
|
|
Studio
|
-
|
3400 ft²
|
$595,000
Studio
-
3400 ft²
|
-
-
|
-
|
-
|
Building Info
1901 East Cumberland Street
1901 East Cumberland Street, Philadelphia, PA 19125
- 1 Unit for Sale