$2,999,999
UNDER CONTRACT

20 Lombard St Philadelphia, PA 19147

Washington Square West Neighborhood

Estimated payment $19,045/month

Total Views 1,062
-- Bed
-- Bath
18,000 Sq Ft
$167 Price per Sq Ft

Highlights

  • City View
  • Straight Thru Architecture
  • Downtown Location
  • 0.13 Acre Lot
  • Wood Flooring
  • 3-minute walk to Palumbo Recreation Center Park

About This Home

INTRODUCING: 1112-20 Lombard Street in Philadelphia, Pennsylvania. This 13-unit value-add apartment building is exceptionally located in the coveted Washington Square West district of downtown Philadelphia. Opportunities to acquire value-add multifamily properties such as this rarely come about. This asset has been held by Ownership for over 50 years as a perennially-leased asset. Historically known as Washington Mews Apartments, this building provides the ultimate in convenience and charm with its spacious interiors and unique redbrick curb appeal — fashioned out of an old church building and converted into modern multifamily. An impressive unit matrix is as follows: one (1) studio, one (1) 1-bedroom, nine (9) 2-bedrooms, and two (2) 3-bedroom apartments. A "super" unit can also be achieved via zoning to create a 14-unit building. An 8.68% pro forma cap rate provides highly attractive upside for new Ownership. Rents can readily be raised (±33%) with a cosmetic upgrade of the building's kitchens, baths, and common spaces. Expenses can be reduced by ±25% to minimize the OPEX statement and boost the NOI. Each unit contains washer-dryer as an added amenity. The asset is extremely well-located by neighborhood parks, fashionable restaurants, accessible public transit and all the amenities that Center City Philly has to offer — insulated from market fluctuations and always in-demand within the tenant marketplace. Purchase value-add real estate in a Top-10 USA MSA for just $230K per unit! Full details coming soon.

Listing Agent

Ryan McManus

Keller Williams Liberty Place

Co-Listing Agent

Brandon Ribeiro

Keller Williams Liberty Place

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,996

Year Built

  • Built in 1968

Lot Details

  • 5,512 Sq Ft Lot
  • Lot Dimensions are 71.00 x 78.00
  • Downtown Location

Home Design

  • Straight Thru Architecture
  • Masonry

Interior Spaces

  • 18,000 Sq Ft Home
  • City Views

Flooring

  • Wood
  • Carpet

Utilities

  • Central Heating and Cooling System
  • Cooling System Utilizes Natural Gas
  • Natural Gas Water Heater

Community Details

  • 4 Units
  • 3-Story Building
  • Washington Sq West Subdivision

Listing and Financial Details

  • Tax Lot 312
  • Assessor Parcel Number 881008200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,996

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Architectural Style: Straight Thru
  • Ownership: Fee Simple
  • Historic: No
  • New Construction: No
  • Year Built: 1968
  • Automatically Close On Close Date: No
  • Remarks Public: INTRODUCING: 1112-20 Lombard Street in Philadelphia, Pennsylvania. This 13-unit value-add apartment building is exceptionally located in the coveted Washington Square West district of downtown Philadelphia. Opportunities to acquire value-add multifamily properties such as this rarely come about. This asset has been held by Ownership for over 50 years as a perennially-leased asset. Historically known as Washington Mews Apartments, this building provides the ultimate in convenience and charm with its spacious interiors and unique redbrick curb appeal — fashioned out of an old church building and converted into modern multifamily. An impressive unit matrix is as follows: one (1) studio, one (1) 1-bedroom, nine (9) 2-bedrooms, and two (2) 3-bedroom apartments. A "super" unit can also be achieved via zoning to create a 14-unit building. An 8.68% pro forma cap rate provides highly attractive upside for new Ownership. Rents can readily be raised (±33%) with a cosmetic upgrade of the building's kitchens, baths, and common spaces. Expenses can be reduced by ±25% to minimize the OPEX statement and boost the NOI. Each unit contains washer-dryer as an added amenity. The asset is extremely well-located by neighborhood parks, fashionable restaurants, accessible public transit and all the amenities that Center City Philly has to offer — insulated from market fluctuations and always in-demand within the tenant marketplace. Purchase value-add real estate in a Top-10 USA MSA for just $230K per unit! Full details coming soon.
  • Special Features: UnderContract
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring Type: Hardwood, Carpet
  • Total Sq Ft: 18000
  • Living Area Sq Ft: 18000
  • Price Per Sq Ft: 166.67
  • Above Grade Finished Sq Ft: 18000
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1112

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Masonry
  • View: City
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Natural Gas
  • Cooling Type: Central A/C
  • Heating Fuel: Natural Gas
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: PHILADELPHIA CITY
  • School District Key: 803408593408
  • School District Source: Listing Agent

Lot Info

  • Land Use Code: CA0
  • Lot Size Acres: 0.13
  • Lot Dimensions: 71.00 x 78.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 5512.00
  • Year Assessed: 2025
  • Zoning: RM1

Rental Info

  • Vacation Rental: No

Tax Info

  • School Tax: 15678.00
  • Tax Annual Amount: 27996.00
  • Assessor Parcel Number: 881008200
  • Tax Lot: 312
  • County Tax Payment Frequency: Annually
  • Tax Year: 2024

Multi Family

  • Single Room Units Count: 1

MLS Schools

  • School District Name: PHILADELPHIA CITY

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/07/2025 03/07/25 For Sale $2,999,999 -- $167 / Sq Ft
Source: Bright MLS

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See All Homes in Philadelphia

Source: Bright MLS

MLS Number: PAPH2454238

Bright MLS

Pennsylvania Philadelphia County Philadelphia 19147 Washington Square West

20 Lombard St, Philadelphia, PA

Homes for Sale in Philadelphia, PA

This home is located at 20 Lombard St, Philadelphia, PA 19147 and is currently priced at $2,999,999, approximately $166 per square foot. This property was built in 1968. 20 Lombard St is a home located in Philadelphia County with nearby schools including General George A McCall Public School, Benjamin Franklin High School, and St. Peter's School.

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Ryan McManus
Listing Agent
Ryan McManus
Section Image
Keller Williams Liberty Place
(267) 838-5265