Description
New Development Opportunity! Multifamily new development site located in a Qualified Opportunity Zone (QOZ) in fast paced Brewerytown. Merge 2943-45 CBM to build 4 new units at the corner of Cecil B Moore and W Glenwood Ave. Build (2) 1BR x 2BA and (2) 2BR x 1BA. Upper units have terraces. Lower units have rear yards for outdoor enjoyment. Secure the coveted full 10 year tax abatement as well as the Qualified Opportunity Zone Tax Benefit when you convert into a quadplex. The QOZ tax incentive allows for (10 year tax deferral on the respective capital gains. A 15% tax reduction on those capital gains when they are taxed in the 10th year. Tax free growth on the opportunity investment as long as the investment is held for 10 years.) The opportunity allows for strong rental demand, asset appreciation and growth forecast for years to come in North Philly. Walkable to stunning Fairmount Park and a short drive to restaurants and bars on Ridge Ave and Girard Ave. This submarket is exploding with new rehabs fueled by the healthcare, business and education sectors as revitalization efforts head North from Girard Ave and East from Temple University. There are new construction comps on Cecil B Moore. Inquire within for Building Financials -- Pro forma financials. Buy and build today!
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Description
New Development Opportunity! Multifamily new development site located in a Qualified Opportunity Zone (QOZ) in fast paced Brewerytown. Merge 2943-45 CBM to build 4 new units at the corner of Cecil B Moore and W Glenwood Ave. Build (2) 1BR x 2BA and (2) 2BR x 1BA. Upper units have terraces. Lower units have rear yards for outdoor enjoyment. Secure the coveted full 10 year tax abatement as well as the Qualified Opportunity Zone Tax Benefit when you convert into a quadplex. The QOZ tax incentive allows for (10 year tax deferral on the respective capital gains. A 15% tax reduction on those capital gains when they are taxed in the 10th year. Tax free growth on the opportunity investment as long as the investment is held for 10 years.) The opportunity allows for strong rental demand, asset appreciation and growth forecast for years to come in North Philly. Walkable to stunning Fairmount Park and a short drive to restaurants and bars on Ridge Ave and Girard Ave. This submarket is exploding with new rehabs fueled by the healthcare, business and education sectors as revitalization efforts head North from Girard Ave and East from Temple University. There are new construction comps on Cecil B Moore. Inquire within for Building Financials -- Pro forma financials. Buy and build today!
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