Opportunity Zone Land Development

2401 North 13th Street Philadelphia, PA 19133

2401 North 13th Street, Philadelphia, PA, 19133
2401 North 13th Street, Philadelphia, PA, 19133
FOR SALE
Property Type:
Multifamily Land
Amount:
$1,900,000
Last Verified:
Apr 28, 2021

Highlights

  • 2 acres in the middle of one of the largest cities in the country
  • One block to public transportation
  • A short walk to Temple University main campus
  • Street to street
  • Clean environmental

Description

Located between Temple University's main campus and Temple University's medical campus, this development project provides the rare opportunity to acquire a property with the ability to attract student tenants from both campuses.

Rarely in this aggressive market does the investment opportunity present itself, where a roughly two acre parcel of undeveloped land, situated in a central urban location, can be acquired for an acquisition cost of less than $25 per square foot. This low acquisition cost facilitates a variety of viable development opportunities.

This site could capitalize on the train stations citywide access via SEPTA's Regional Rail system and its Amtrak link to New York, as well its location barley a half-mile north of Temple University's main campus and just a few blocks south of its Health Sciences Center complex.

This site was previously approved for two hundred fifty nine units, for assisted living or market rate housing. While those approvals have expired, they can be reinstated but would have to go through the variance process again.

Historic North Philadelphia just a short walk to Temple University main campus and One block to route 611/North Broad St

Lot Size: 1.99 acres

Map of 2401 North 13th Street, Philadelphia, PA, 19133

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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.