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Listed by Beau McGettigan • KW Commercial
$1,800,000
Est. payment /mo
0.5 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2547702
Year Built 1970
Annual Tax Amount $8,846
Tax Year 2025
Lot Size 0.500 Acres
Acres 0.5
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The property at 5015 McKean Avenue presents a rare opportunity to acquire a partially renovated multifamily building with both near-term lease-up potential and long-term redevelopment upside. The main structure contains seven residential units that are nearing completion, while a two-story carriage house at the rear of the property offers the opportunity to add up to four new units or create one large additional dwelling.
With most major capital projects already completed, this asset is ideally positioned for an investor or developer looking to complete the final phase of work, stabilize operations, and unlock significant long-term value in one of Philadelphia's most historic and rapidly developing submarkets.
Over the past 18 months, ownership has completed extensive renovations totaling roughly 85% of the total project scope, with all major systems replaced and the bulk of interior finish work complete. The remaining work primarily involves final trim, finish detailing, and exterior punch-list items before lease-up.
Once completed, each unit will feature modern kitchens, new flooring, renovated bathrooms, and updated mechanical systems, offering long-term durability and reduced operating costs.
With most major capital projects already completed, this asset is ideally positioned for an investor or developer looking to complete the final phase of work, stabilize operations, and unlock significant long-term value in one of Philadelphia's most historic and rapidly developing submarkets.
Over the past 18 months, ownership has completed extensive renovations totaling roughly 85% of the total project scope, with all major systems replaced and the bulk of interior finish work complete. The remaining work primarily involves final trim, finish detailing, and exterior punch-list items before lease-up.
Once completed, each unit will feature modern kitchens, new flooring, renovated bathrooms, and updated mechanical systems, offering long-term durability and reduced operating costs.
Location
State PA
County Philadelphia
Area 19144 (19144)
Zoning RSA3
Interior
Hot Water Multi-tank
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 10.0
Water Access N
Accessibility None
Total Parking Spaces 10
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 133147300
Ownership Fee Simple
Special Listing Condition Standard
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The J Walden Home Group
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