MLS® ID: PAPH808826
1901 E CUMBERLAND STREET
PHILADELPHIA, Pennsylvania, 19125 $475,000
For sale is a unique and rarely offered opportunity in one of the city's hottest areas...East Kensington! This corner lot is now zoned CMX2 and is shovel ready (all plans are approved, just pull the permits and build) for a 2 level commercial space with 2 bi-level apartments/condos above with individual roof decks. The seller is willing to sell the plans for the price listed above, and allow you to complete the construction (seller has architect, builder, zoning attorney, and liquor attorney already in place and familiar with the project if buyer would like to work with them). Or, the seller is willing to build the structure and sell the completed project for a different price (inquire with listing agent for details). The seller has already presented to the East Kensington Neighbors Association and gained their support of the project. This area is a hotbed for residential development where it's difficult to walk more than a block without seeing new construction. This is a great opportunity for a savvy investor/buyer to rent all 3 units (Airbnb is also an option), condo out the residential units and sell them off, or operate the commercial space and live in a unit above. Potential rents for the 2 bedroom units are $2,000/month each, with potential rent of $4,500/month for the commercial space. Lots of upside here! Please don't hesitate with any questions/inquiries.