4820 Chester Ave, Philadelphia - West, PA 19143 - For Sale

4820 Chester Avenue is an exciting value-add, redevelopment opportunity in the University City section of Philadelphia. This highly sought-after area is home to some of the top-rated educational and medical institutions in the world ? the University of Pennsylvania, the University of the Sciences, Drexel University, the Hospital of University of Pennsylvania (Penn Medicine), and CHOP. 4820 Chester Avenue was built in 1925 and consists of a three-story structure with a free-standing garage located on the prominent corner at 49th Street and Chester Avenue. Currently, it is zoned RTA-1 and is used for group living with a communal kitchen/dining area with eight rooms. In addition, the property has a two-car garage and on-site parking for two additional vehicles. One tenant is left in the building and ownership is in the process of terminating their housing. The property offers an outstanding value-add, redevelopment opportunity. A new owner could redevelop the property as: Single Family Residence: does not require zoning approval; Two-Family Residence: requires a use registration permit; or Multi-Family Residence: requires a variance