Seller's Agent in 2025
Gaurav Gambhir
KW Empower
(215) 478-6339
6 in this area
210 Total Sales
707 Chestnut St Philadelphia, PA 19106
Old City Neighborhood
Studio
--
Bath
25,374
Sq Ft
4,792
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
As of October 2025On 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.
Last Agent to Sell the Property
(215) 627-3500 vicki@kwempower.com KW Empower License #AB067538 Listed on: 06/05/2025
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
- Heating System Uses Natural Gas
- Natural Gas Water Heater
Community Details
- 2 Units
Listing and Financial Details
- Tax Lot 104
- Assessor Parcel Number 881301105
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/09/2025 10/09/25 | Sold | $2,675,000 | -10.8% | $105 / Sq Ft |
| 06/05/2025 06/05/25 | For Sale | $3,000,000 | -- | $118 / Sq Ft |
Source: Bright MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $43,394 | $1,500,000 | $450,000 | $1,050,000 |
| 2025 | $43,394 | $1,500,000 | $450,000 | $1,050,000 |
| 2024 | $43,394 | $1,500,000 | $450,000 | $1,050,000 |
| 2023 | $43,394 | $3,100,000 | $465,000 | $2,635,000 |
| 2022 | $54,687 | $4,102,000 | $1,230,600 | $2,871,400 |
| 2021 | $54,687 | $0 | $0 | $0 |
| 2020 | $54,687 | $0 | $0 | $0 |
| 2019 | $54,281 | $0 | $0 | $0 |
| 2018 | $28,836 | $0 | $0 | $0 |
| 2017 | $9,126 | $0 | $0 | $0 |
| 2016 | $9,126 | $0 | $0 | $0 |
| 2015 | $8,736 | $0 | $0 | $0 |
| 2014 | -- | $1,750,000 | $307,356 | $1,442,644 |
| 2012 | -- | $626,560 | $107,135 | $519,425 |
Source: Public Records
Agents Affiliated with this Home
-
Gaurav Gambhir
-
Tyler Hopp
Seller Co-Listing Agent in 2025
Tyler Hopp
KW Empower
(267) 475-5862
1 in this area
50 Total Sales
-
Dale You
D
Buyer's Agent in 2025
Dale You
Dale You & Associates
(917) 239-6456
1 in this area
5 Total Sales
Map
Source: Bright MLS
MLS Number: PAPH2485058
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