MLS# PAPH999570 – 241 Chestnut Street Unit D, Philadelphia, PA 19106

Price: $1,199,000
Beds: 3
Baths: 3
Living Area SqFt: 3,021
Status: Active
Property Type: Condominium
Year Built: 1900
Neighborhood: Old City
Days on Website: 16

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 3,000 sf of interior space, and an enormous 575 sf outdoor terrace with hot tub and pergola. Visitors exiting from the elevator directly into the unit will be immediately awed by soaring ceilings, huge windows with magnificent views, original brick throughout, and a loft style second floor. 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 2013; or reconfigure it as a 3-bedroom 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 201c;Over-cap Park201d; will be just two blocks away. In another unique opportunity, this unit may be combined with the adjacent Unit C, a 2,200+ sf loft with 2 bedrooms and 2 bathrooms, which is also for sale, and can be easily joined with this Unit D through a shared wall. Use Unit C as a large and luxurious in-law suite or to enlarge Unit D into a magnificent 5,200+ sf residence with 4-6 bedrooms and 5-6 bathrooms. 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 $1,500 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
  • 3 full bathrooms
  • 3 full bathrooms on main level
  • Bedrooms
  • 3 bedrooms
  • 3 bedrooms on main level
  • House
  • 3,021 sqft living area
  • 3,021 sqft above grade (finished)
  • Built in 1900
  • Structure Type: Unit/Flat/Apartment
  • 1 unit in building
  • 2 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
  • 17 days on market
  • $397 per sqft
  • Location
  • 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
  • Outdoor Living Structures: Terrace
  • Schools
  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA
  • Sewer
  • Public Sewer
  • Taxes
  • City/Town Tax: $682
  • City/Town Tax Pymnt Freq: Annually
  • County Tax Pymnt Freq: Annually
  • School Tax: $829
  • Tax Annual Amount: $1,510
  • Tax Year: 2020
  • Utilities
  • Hot Water: Natural Gas

Property Map

$1,199,000 – 241 Chestnut Street Unit D, Philadelphia, PA 19106

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