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21 E Columbia Ave
Philadelphia, PA 19125
Box Factory Lofts · Multifamily Property For Sale
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20 Units
Property Facts
| No. Units | 20 | Building Size | 35,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2009 |
| Building Class | B | Parking Ratio | 0.57/1,000 SF |
| Lot Size | 0.40 AC | ||
| Zoning | I2 - COMMERCIAL MIXED USE | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2009 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | I2 - COMMERCIAL MIXED USE |
About 21 E COLUMBIA AVE , PHILADELPHIA, PA 19125
The project has a feasibility study attached to it showing a by-right 60 unit addition using approximately 45,000 square feet of FAR allowance. There is no density or height restriction for multifamily per the current CMX-3 zoning code; however, there is a 3:10 parking ratio. The current 60 unit feasibility study does comply with that requirement. As multifamily/mixed use does seem to be highest and best use for the development component, an office use shall not be ruled out. Value creation opportunity in the existing Box Factory Loft building exists in common area and light unit upgrades. By implementing such a program, a new owner can expect over a 20% increase in rents.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 20 | - | 1,102 |
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