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4050 Ludlow St
Philadelphia, PA 19104 Spruce Hill

Price Upon Request

Apartments For Sale  •  57,214 SF

Property Details

  • Property Type Apartments
  • Total Building Size 57,214 SF
  • Lot Size 0.22 AC
  • Building Class B
  • Zoning CMX4
100 Transit Score
100 Walk Score

Highlights

Buyer will receive a 10-year tax abatement on this shovel-ready redevelopment site with approved plans for a 7-story mid-rise apartment building.
Approved plans feature a 94-unit apartment complex with a common rooftop patio, fitness center, and an 18-space below-grade private parking garage.
Opportunity to receive incredible price per square footage returns from highly in-demand one-bedroom and studio apartment unit layouts.
Located in the University City submarket with easy access to Penn Hospital, Penn University, Drexel University, and the Market-Frankford SEPTA Line.

Financial Summary (Proforma)

Net Operating Income: $1,551,000 USD (2022)
Total Expenses: $467,000 USD

Amenities

  • 24 Hour Access
  • Fitness Center
  • Bicycle Storage
  • Sundeck

Public Transportation

Commuter RailDriveWalkDistance
4 min - 1.2 mi
Philadelphia 30th Street (Atlantic City Line - NJ Transit Commuter Rail (NJ Transit)) 5 min - 1.4 mi
Transit/SubwayDriveWalkDistance
40th Street (Market-Frankford Line - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 2 min 3 min 0.2 mi
Lancaster Ave & Hamilton St (Route 10 - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 3 min 11 min 0.6 mi
Lancaster Avenue and 40th Street (Route 10 - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 4 min 11 min 0.6 mi
Lancaster Avenue and Spring Garden Street (Route 10 - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 3 min 11 min 0.6 mi
Baltimore Avenue and 42nd Street (Route 34 - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 3 min 11 min 0.6 mi
AirportDriveWalkDistance
Philadelphia International 20 min - 9.3 mi
Trenton Mercer 54 min - 36.1 mi