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4029, 4031, 4033 Lancaster Ave Philadelphia 4029 Lancaster Ave 1 Unit Apartment Building $499,000 ($499,000/Unit) Philadelphia, PA 19104
INVESTMENT HIGHLIGHTS
- On-site parking
- hard corner property on Lancaster Ave
- upside potential, finishing out the apartments on 2nd and 3rd floor
EXECUTIVE SUMMARY
Prime redevelopment or owner-user opportunity in University City / West Powelton.
4029–4033 Lancaster Avenue, Philadelphia, PA 19104
This offering includes three contiguous parcels totaling 2,920 SF of land, featuring a 2,539 SF three-story mixed-use building at 4029 Lancaster Avenue and two adjacent paved lots at 4031 and 4033 Lancaster Avenue. The corner location at Lancaster and Wallace offers excellent visibility and frontage on a high-traffic commercial corridor.
The first floor is currently built out as a long-standing jewelry store with 35 years of history. The 2nd and 3rd floors contain two apartments in need of full renovation, providing a strong value-add opportunity for investors or owner-occupants seeking additional rental income.
The property includes a private parking lot—a rare amenity in this submarket—that could also support future development or expansion. Zoning is CMX-2 (Neighborhood Commercial Mixed-Use), allowing for a wide range of retail, residential, and office uses.
Located within steps of SEPTA bus and trolley routes, this property benefits from excellent public transportation access and strong proximity to University City, Drexel University, and the Penn health and research campuses.
Offered as-is, this property provides an affordable entry point or redevelopment opportunity in one of Philadelphia’s most dynamic and rapidly evolving commercial corridors.
4029–4033 Lancaster Avenue, Philadelphia, PA 19104
This offering includes three contiguous parcels totaling 2,920 SF of land, featuring a 2,539 SF three-story mixed-use building at 4029 Lancaster Avenue and two adjacent paved lots at 4031 and 4033 Lancaster Avenue. The corner location at Lancaster and Wallace offers excellent visibility and frontage on a high-traffic commercial corridor.
The first floor is currently built out as a long-standing jewelry store with 35 years of history. The 2nd and 3rd floors contain two apartments in need of full renovation, providing a strong value-add opportunity for investors or owner-occupants seeking additional rental income.
The property includes a private parking lot—a rare amenity in this submarket—that could also support future development or expansion. Zoning is CMX-2 (Neighborhood Commercial Mixed-Use), allowing for a wide range of retail, residential, and office uses.
Located within steps of SEPTA bus and trolley routes, this property benefits from excellent public transportation access and strong proximity to University City, Drexel University, and the Penn health and research campuses.
Offered as-is, this property provides an affordable entry point or redevelopment opportunity in one of Philadelphia’s most dynamic and rapidly evolving commercial corridors.
PROPERTY FACTS
| Price | $499,000 | Building Class | C |
| Price Per Unit | $499,000 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 2,131 SF |
| No. Units | 1 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CMX2 - Neighborhood Commercial Mixed Use | ||
| Price | $499,000 |
| Price Per Unit | $499,000 |
| Sale Type | Investment |
| No. Units | 1 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 2,131 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | CMX2 - Neighborhood Commercial Mixed Use |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $85,700 | Total Assessment | $85,700 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$85,700
Improvements Assessment
$0
Total Assessment
$85,700
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