Presenting 5235 Chestnut Street, an entitled development site for a transit-oriented, 204-unit multifamily development in the heart of West Philadelphia, located within a Qualified Opportunity Zone. This development will be a game-changer for this part of West Philadelphia, offering new apartment units in a high-demand area of the city, with easy access to transit and access to the historic 52nd Street Commercial Corridor, known as “West Philadelphia’s Main Street”. This exciting offering is a great opportunity for developers and investors to build a first-class apartment development on a long-vacant parcel. This development is located within the Mixed Income Neighborhood Overlay, a zoning overlay that requires new construction residential projects to have 20% of units be rent restricted based on a set of specific criteria. This allows this project to be accessible to tenants of different income backgrounds and be a new development that contributes to housing affordability in the community. It also provides opportunities for a developer to pursue certain financial benefits/incentives, including low-income housing tax credits. The property comes with approved zoning permits and plans and is ready for the right builder to get started and bring this part of West Philadelphia into its next exciting chapter!
Property Details
Property Features
Listing Office:
Office Name: OCF Realty LLC - Philadelphia
Office Phone: (215) 735-7368
Listing Agent: Dennis J Carlisle
Lot Features
Lot Information:
Lot: Irregular Lot
Lot Size: 0.64 Acres
Other
Directions Information:
Directions: 5200 block of Chestnut Street
Municipality:
Philadelphia
Price Information
Listing Price Info
Price Summary:
List Price: $5,100,000
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Housing Market Comparison
See how this home compares to others in Philadelphia, PA.
This property is $4.8M more than the Median Sold Price in Philadelphia, PA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: BRIGHT
MLS Number: #PAPH2410760
Listing Office:
Office Name: OCF Realty LLC - Philadelphia
Office Phone: (215) 735-7368
Listing Agent: Dennis J Carlisle
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
Universal Institute Charter School at Bluford
5801 Media St
Distance between this listing and this school1.19 miles
Public Charter Grades KG-6
3
/10
Inquiry Charter School
1301 Belmont Ave
Distance between this listing and this school1.35 miles
Public Charter Grades PK-5
4
/10
West Philadelphia Achievement Ces
6701 Callowhill St
Distance between this listing and this school1.69 miles
Public Charter Grades KG-5
Nearby Schools
4
/10
Global Leadership Academy Charter School Southwest a
5200 Pine St
Distance between this listing and this school0.35 miles
Public Charter Grades KG-8
3
/10
Andrew Hamilton School
5640 Spruce St
Distance between this listing and this school0.53 miles
Public District Grades KG-8
6
/10
Universal Daroff Charter School
5630 Vine St
Distance between this listing and this school0.59 miles
Public Charter Grades KG-8
Nearby Schools
2
/10
West Philadelphia High School
4901 Chestnut St
Distance between this listing and this school0.36 miles
Public District Grades 9-12
3
/10
The Workshop School
221 S Hanson St
Distance between this listing and this school0.47 miles
Public Magnet Grades 9-12
4
/10
Boys Latin of Philadelphia Charter School
5501 Cedar Ave
Distance between this listing and this school0.59 miles
The neighbors living near this home have an average income of $25,617. Residents of Philadelphia, PA typically earn less than $35k each year. Most families are single, no kids. Residents of this area typically have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 5235 Chestnut St
What is the listing price of this property?
The listing price of 5235 Chestnut St property is $5,100,000.
What type of property is this?
The property 5235 Chestnut St is land located in Philadelphia, Pennsylvania, 19139.
Is this property for sale now?
Active Listing: 5235 Chestnut St is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 5235 Chestnut St in Philadelphia, PA and zip code 19139 in the Cobbs Creek neighborhood. This home sits on a 0.64 acre lot. It has been listed on Rocket Homes since October 17, 2024 and is currently priced at $5,100,000.
Over 252 listings were sold over their listed price in October 2024 in Philadelphia, PA. In the same period over 567 listings were sold below the listed price and 237 listings were sold for the listed price. In October 2024 in Philadelphia, PA there were 9.8% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $261,807, while the average time on the real estate market was 44 days.
From Rocket Homes Real Estate and based on county public records data.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement. 
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