MLS® ID: PAPH879042

4630 UMBRIA STREET

PHILADELPHIA, Pennsylvania, 19127

$2,075,000 Active
  • - SQFT
Fantastic CMX-2 DEVELOPMENT OPPORTUNITY in booming Manayunk! This price includes 4630 Umbria Street (which is presently utilized as VERY profitable bar), 4620 Umbria Street (which is presently an income producing duplex) and 4613-17 Linney Street which is a vacant lot. Multiple By Right possibilities and even more with various height bonuses/variances easily obtained. Here is an an example; 1.) Keep the bar as is and develop the lot duplex(which must be demolished in this scenario) per seller's lawyer ; "Regarding the affordable housing bonuses, your options are either allocate 10% of the residential units for moderate-income or low-income housing, or to make a payment-in-lieu to the City~s affordable housing trust.~ For the plan which contemplates consolidating all 3 lots, the approximate payments to the City would be as follows;1.) Moderate-income bonus without green roof (18 units) - $161,0002.) Moderate-income bonus with green roof (22 units) - $161,0003.) Low-income bonus without green roof (22 units) - $210,0004.) Low-income bonus with green roof (27 units) - $270,000. 2.) Demolish the bar and add many, many more units. *Note here that neither the Seller, Listing Broker nor Listing Agent can contractually guarantee any of this so buyers are responsible for their own due diligence. More information available upon request.
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Listing courtesy of Coldwell Banker Preferred-OC

Amenities

  • Zip
    19127
  • Office name
    Coldwell Banker Preferred-OC
  • SQFT
    0
  • Bedrooms
    0
  • Full baths
    0
  • Half baths
    0
  • Property type
    Commercial Sale
  • School district
    THE SCHOOL DISTRICT OF PHILADELPHIA
  • Year built
    1940
  • Lot size
    0.23
  • Sewer
    Public Sewer
  • Heating
    Hot Water
  • Office ID
    CBPREOC
  • Agent ID
    3159541
  • Agent name
    Christopher Baker
  • Purchase Type
    Active
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Ownership
    Fee Simple

Location

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