5500 Haverford Ave - Multifamily Development Site
5500 Haverford Ave
Philadelphia, PA 19139
Jan 05, 2022
- Clear and Vacant Lot
- Signalized Corner Location
- High demand for rental units
- Easy access to Center City and i76
Total of 12,867sf of land in West Philadelphia zone CA-1 / RSA5. Proposed use to Build 34 Apartment Units, no plans or permits in hand. All due diligence the responsibility of the purchaser.
The prior building was damaged in a building fire and the existing structure was demolished.
-34 800sf Apartments @ $1,100 per month rents
-Sub 20% Expense Ration with Philadelphia Tax Abatement
-Projected NOI: $370,000
-Stabilized Value: $5,300,000 @ 7% Cap Rate
Lot Size: 0.3 acres
DocumentsSale Brochure (L)
Map of 5500 Haverford Ave, Philadelphia, PA, 19139
What are Real Estate Incentives?
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS)
for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
- U.S. Public: Many incentives focus on job creation and Affordable Housing
- Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
- Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
- Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.