$3,000,000

707 Chestnut St Philadelphia, PA 19106

Old City Neighborhood

Estimated payment $18,366/month

Total Views 27,871
-- Bed
-- Bath
25,374 Sq Ft
$118 Price per Sq Ft

Highlights

  • Central Heating and Cooling System
  • 3-minute walk to 8Th & Market St
  • 4-minute walk to Washington Square Park

About This Home

On behalf of ownership, The TCS Group is pleased to present the exclusive opportunity to acquire the fee simple interest in 707 Chestnut Street — home to Jefferson Flats, a boutique collection of five well-appointed two-bedroom apartments located in the heart of Center City Philadelphia.The property also features 4,200 square feet of prime ground-floor retail space, currently leased to an established restaurant operator with a newly extended lease. An additional 4,546 square feet of commercial space spans the second and third floors, offering flexible potential for various future uses.This offering presents new ownership with a compelling value-add opportunity. With modest upgrades to the building’s common areas and light cosmetic enhancements to the residential units, there is strong potential to increase rental income. Moreover, a strategic approach to activating and monetizing the upper-level commercial space can unlock significant additional cash flow for an incoming investor.

Listing Agent

Gaurav Gambhir

KW Empower License #AB067538 Listed on: 06/05/2025

KW Empower

Co-Listing Agent

Tyler Hopp

KW Empower License #RS331973

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,997

Year Built

  • Built in 1900

Lot Details

  • 4,984 Sq Ft Lot
  • Lot Dimensions are 28.00 x 178.00

Home Design

  • 25,374 Sq Ft Home
  • Brick Foundation
  • Block Foundation
  • Concrete Perimeter Foundation
  • Masonry

Utilities

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

Community Details

  • 2 Units

Listing and Financial Details

  • Tax Lot 104
  • Assessor Parcel Number 881301105

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,997

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Twin/Semi-Detached
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1900
  • Remarks Public: On behalf of ownership, The TCS Group is pleased to present the exclusive opportunity to acquire the fee simple interest in 707 Chestnut Street — home to Jefferson Flats, a boutique collection of five well-appointed two-bedroom apartments located in the heart of Center City Philadelphia. The property also features 4,200 square feet of prime ground-floor retail space, currently leased to an established restaurant operator with a newly extended lease. An additional 4,546 square feet of commercial space spans the second and third floors, offering flexible potential for various future uses. This offering presents new ownership with a compelling value-add opportunity. With modest upgrades to the building’s common areas and light cosmetic enhancements to the residential units, there is strong potential to increase rental income. Moreover, a strategic approach to activating and monetizing the upper-level commercial space can unlock significant additional cash flow for an incoming investor.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Foundation Details: Brick/Mortar, Block, Concrete Perimeter
  • Total Sq Ft: 25374
  • Living Area Sq Ft: 25374
  • Price Per Sq Ft: 118.23
  • Above Grade Finished Sq Ft: 25374
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 707

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • 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

Condo/Co-op/Association

  • Association Recreation Fee: No

Schools

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

Lot Info

  • Land Use Code: CA0
  • Lot Size Acres: 0.11
  • Lot Dimensions: 28.00 x 178.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 4984.00
  • Year Assessed: 2025
  • Zoning: CMX5

Rental Info

  • Vacation Rental: No

Tax Info

  • School Tax: 11758.00
  • Tax Annual Amount: 20997.00
  • Assessor Parcel Number: 881301105
  • Tax Lot: 104
  • Tax Total Finished Sq Ft: 25374
  • County Tax Payment Frequency: Annually
  • Tax Year: 2025

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
06/05/2025 06/05/25 For Sale $3,000,000 -- $118 / Sq Ft
Source: Bright MLS

About the Listing Agent

Gaurav Gambhir
Gaurav Gambhir

KW Empower

(888) 351-7963

Section Image

Gaurav began his real estate career in 2002 after graduating from Drexel University. He has 17 years of experience in financing, negotiating, tenant fit-outs, property management, brokerage, and acquisition and sales.

Gaurav and the team at TCS Group serves the Philadelphia and New Jersey region with over $215 million in sales volume. TCS Group is the #1 Keller Williams team in the Greater Pennsylvania region in 2023.

He is also the Operating Principal of one of the largest

View Gaurav's Profile

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Source: Bright MLS

MLS Number: PAPH2485058

Bright MLS

Pennsylvania Philadelphia County Philadelphia 19106 Old City

707 Chestnut St, Philadelphia, PA

This home is located at 707 Chestnut St, Philadelphia, PA 19106 and is currently priced at $3,000,000, approximately $118 per square foot. This property was built in 1900. 707 Chestnut St is a home located in Philadelphia County with nearby schools including General George A McCall Public School, Benjamin Franklin High School, and Mastery Charter High School Lenfest Campus.

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Gaurav Gambhir
Gaurav Gambhir
Listing Agent Section Image
KW Empower
(888) 351-7963