MLS# PAPH999484 – 241 Chestnut Street Unit C, Philadelphia, PA 19106

Price: $775,000
Beds: 2
Baths: 2 full, 1 half
Living Area SqFt: 2,217
Status: Active
Property Type: Condominium
Year Built: 2021
Neighborhood: Old City
Days on Website: 120

Courtesy of Frank L DeFazio, BHHS Fox & Roach-Center City Walnut.

Property Description

Rarely does an opportunity present itself to build your dream home in the middle of the most historic neighborhood in the country. Presently unfinished, this spacious bi-level home has over 2,200 sf of interior space that can be configured as a 2-bedroom or a 3-bedroom layout. Visitors exiting from the elevator directly into the unit will be immediately awed by the breathtaking size and style of the four new windows in the living room overlooking Chestnut Street, and the open 2-story loft layout that begs to be utilized for amazing modern living. The full-width interior balcony overlooking the 2-story living room has a stunning view through the living room’s windows. There is great potential here for the most discerning owner occupants and investors. The buyer can easily rebuild this unit as an extremely spacious 2-bedroom, 2.5-bathroom residence by simply reinstalling framing in accordance with existing drawings – or reconfigure it as a 3-bedroom, 2.5-bathroom home. This historic building has just undergone a complete $4.5 million gut-renovation. Upgrades and replacements too numerous to describe include a new roof, new steel bracing, new modern elevator, new gas lines, new HVAC lines, new major plumbing, new major electric, other new mechanicals, new security, fire alarm and sprinkler systems, a new lobby and all other common areas completely redone. There is virtually nothing left from the original building constructed in 1847 but the unique character of its historic brick exterior. Positioned directly across from the Museum of the American Revolution and amidst national parks and landmarks, you are within short walking distance to Independence Hall, Penn’s Landing, The Liberty Bell, nationally acclaimed restaurants like Zahav, Morimoto, Amada and Buddakan and dozens of other well-known gourmet restaurants, in a terrific school district, and surrounded by trendy boutiques and galleries. The soon to come I-95 ”Over-cap Park” will be just two blocks away. In another unique opportunity, this unit may be combined with the adjacent Unit D, a 3,000+ sf home with 2-3 bedrooms and 2.5 bathrooms, which is also for sale, and can be easily joined with this Unit C through a shared wall. Buy the two units and you will have an absolutely one-of-a-kind 5,200+ sf residence with 4-6 bedrooms and 5-6 bathrooms, or renovate Unit D for yourself and turn this Unit C in the world’s best in-law suite. Carrying costs for any buyer will be very low for a long time. Because everything in the building is brand new, it has no deferred maintenance and extremely low condo fees. Taxes have been reduced to only $1,200 (!) per year due to the building overhaul, and the buyer will enjoy a full 10-year tax abatement if renovations begin in 2021.

Property Details and Features

  • Bathrooms
  • 3 total bathrooms
  • 3 bathrooms on main level
  • 2 full bathrooms
  • 2 full bathrooms on main level
  • 1 half bathroom
  • 1 half bathroom on main level
  • Bedrooms
  • 2 bedrooms
  • 2 bedrooms on main level
  • House
  • 2,217 sqft living area
  • 2,217 sqft above grade (finished)
  • Built in 2021
  • Structure Type: Unit/Flat/Apartment
  • 1 unit in building
  • 3 levels
  • Bi-level
  • Masonry
  • Cooling
  • Central Air
  • Electric
  • Central A/C
  • Heating
  • Natural Gas
  • Forced Air
  • Home Owner’s Association
  • Condo/Coop Association
  • Condo/Coop Fee Freq: Monthly
  • None
  • None
  • Listing
  • 98 days on market
  • $350 per sqft
  • Location
  • Municipality: PHILADELPHIA
  • County: Philadelphia
  • MLS Area: 19106 (19106)
  • Subdivision: Old City
  • Lot
  • Lot Size Dimensions: 0.00 x 0.00
  • Property
  • Other Structures: Above Grade,Below Grade
  • Schools
  • Sewer
  • Public Sewer
  • Taxes
  • City/Town Tax: $541
  • City/Town Tax Pymnt Freq: Annually
  • School Tax: $658
  • Tax Annual Amount: $1,200
  • Tax Year: 2021
  • Utilities
  • Hot Water: Natural Gas

Property Map

$775,000 – 241 Chestnut Street Unit C, Philadelphia, PA 19106

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