House for Sale in Philadelphia, PA

Major Price Reduction - Now Offered at $975,000 | Prime Development Opportunity in West Philly's QOZ Previously listed at $1.1 million, this rare 10,000+ sq ft corner development site is now available for $975,000 - a significant reduction for one of the most strategically located parcels in West Philadelphia. Situated at the high-visibility corner of Lancaster Ave and Belmont Ave, this property serves as the gateway to West Philadelphia, connecting University City to City Line Ave. This CMX-2 zoned assemblage includes 4401, 4421, 4423, 4425, 4427 Lancaster Ave and 892-894 Belmont Ave, totaling approximately 10,084 sq ft of land. Development Highlights: CMX-2 zoning allows for by-right mixed-use development Conceptual plans for 25-30 residential units with commercial on the ground floor Corner lot with double frontage and strong walkability Potential zoning bonuses for green roof and affordable housing set-aside Located in a Qualified Opportunity Zone (QOZ), offering substantial tax advantages Site is flat and cleared; former gas station tanks have been filled with sand Transit-Oriented Location: Immediate access to SEPTA trolley and bus routes Minutes to University City, Center City, and the Main Line Easy access to Route 1, City Ave, and I-76 Why QOZ Matters: Defer capital gains tax until 2026 Reduce gains if held 5-7 years Pay zero tax on appreciation if held for 10+ years This is a perfect opportunity for developers or investors seeking to capitalize on the growth of West Philadelphia with a shovel-ready vision in a booming corridor. The surrounding area is seeing ongoing commercial and residential development - this site puts you right in the mix. Zoning analysis, preliminary architectural work, and proforma available upon request. New Price: $975,000 (Previously $1.1M) Delivered as-is. Buyer responsible for due diligence.