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Listed by Joe Loonstyn • Scope Commercial Real Estate Services, Inc.
$ 1,000,000
Est. payment | /mo
2,321 Sqft Lot
$ 1,000,000
Est. payment | /mo
2,321 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2613004
HOA Y/N N
Annual Tax Amount $576
Tax Year 2025
Lot Size 2,321 Sqft
Acres 0.05
Lot Dimensions 16.00 x 148.00
Property Sub-Type Land
Source BRIGHT
Property Description
SCOPE Commercial Real Estate Services, LLC (“SCOPE”) is pleased to present the opportunity to acquire 3428 N 18th Street, “The Oasis,” a multifamily development site with in-place income located in the Nicetown–Tioga neighborhood of Philadelphia. The Property represents a hybrid investment opportunity, offering current rental income alongside a clear path to redevelopment. Currently operating as North Philly Self-Storage, the asset consists of 40 self-storage units totaling approximately 8,910 rentable square feet and generating approximately $67,860 in annual rental income with full occupancy.
The Property is positioned for the development of a four-story, 43-unit multifamily building totaling approximately 35,761 gross square feet. Preliminary architectural plans have been completed, which show 18 on-site parking spaces, 15 bicycle spaces, rooftop amenity areas, and common space, with a unit mix consisting of studios, onebedroom, and two-bedroom apartments. These plans provide a defined framework for future development while allowing an investor to finalize approvals and tailor the project to their specifications.
Situated on a ±19,881 square foot (0.42-acre) parcel, the Property is positioned on a quiet residential block and set back from the street, offering a unique sense of separation from surrounding traffic while remaining accessible to the broader corridor. The surrounding area is experiencing ongoing new construction and redevelopment activity and is located within close proximity to major demand drivers including Temple University, Temple Health, and other employment centers.
The Property is located within a Qualified Opportunity Zone (QOZ), which may provide potential federal tax incentives for investors. In addition, a Phase I environmental report has been completed with no issues identified. With in-place income, preliminary plans, and a clear path toward redevelopment, 3428 N 18th Street presents a well-defined opportunity for investors seeking both current cash flow and future development potential.
The Property is positioned for the development of a four-story, 43-unit multifamily building totaling approximately 35,761 gross square feet. Preliminary architectural plans have been completed, which show 18 on-site parking spaces, 15 bicycle spaces, rooftop amenity areas, and common space, with a unit mix consisting of studios, onebedroom, and two-bedroom apartments. These plans provide a defined framework for future development while allowing an investor to finalize approvals and tailor the project to their specifications.
Situated on a ±19,881 square foot (0.42-acre) parcel, the Property is positioned on a quiet residential block and set back from the street, offering a unique sense of separation from surrounding traffic while remaining accessible to the broader corridor. The surrounding area is experiencing ongoing new construction and redevelopment activity and is located within close proximity to major demand drivers including Temple University, Temple Health, and other employment centers.
The Property is located within a Qualified Opportunity Zone (QOZ), which may provide potential federal tax incentives for investors. In addition, a Phase I environmental report has been completed with no issues identified. With in-place income, preliminary plans, and a clear path toward redevelopment, 3428 N 18th Street presents a well-defined opportunity for investors seeking both current cash flow and future development potential.
Location
State PA
County Philadelphia
Area 19140 (19140)
Zoning RSA5
Exterior
Water Access N
Garage N
Building
Sewer Private Sewer
Water Public
Schools
School District Philadelphia City
Others
Tax ID 112255500
Ownership Fee Simple
Special Listing Condition Standard
Schools and Properties Nearby
Learn More About LPT Realty
Patrick Smith
Realtor | License ID: 658929