#PAPH2441996, Levent S Ulusal, Listing Office: Meta Realty, LLC
Property details
About 5235 Chestnut St
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!
Highlights
(ACTIVE)
Summary
- MLS Number: PAPH2410760
- MLS Name: BRIGHT
- Office Name: OCF Realty LLC - Philadelphia
- Office Phone: (215) 735-7368
- Office Email: info@ocfrealty.com
- Listing Agent: Dennis J Carlisle
- Agent Phone: (215) 805-8620
- Agent Email: dennis@ocfrealty.com
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Last updated on: 4/7/2025, 12:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$4,100,000
5235 Chestnut St
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Price information
Property sales
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Nearby schools
3
Universal Institute Charter School at Bluford
Public Charter KG-6
1.2 mi
•5801 Media St
3
Inquiry Charter School
Public Charter PK-5
1.3 mi
•1301 Belmont Ave
4
West Philadelphia Achievement Ces
Public Charter KG-5
1.7 mi
•6701 Callowhill St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $25,617. The most common annual income of people living in Philadelphia, PA is less than $<35k. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
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Frequently asked questions
About 5235 Chestnut St
This home is located at 5235 Chestnut St in Philadelphia, PA and zip code 19139 in the Cobbs Creek neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since October 17, 2024 and is currently priced at $4,100,000.
In March 2025 more than 174 listings in Philadelphia, PA were sold above the asking price. During the same period more than 171 listings were sold at asking price, while more than 344 were sold below. Between February and March 2025, Philadelphia, PA real estate market has seen increase in the number of listings by 29.2%. While the average time on the market in March 2025 was 50 days, the median list price was $269,412.