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.
Listed by Gaurav Gambhir
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License #AB067538
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KW Empower
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2679943870
Last updated June 09, 2025
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Source: BrightMLS #PAPH2485058
Listing Facts
TypeMulti-family
NeighborhoodOld City
Days on Prevu94
Taxes$20,997/year
Size25,374 sqft
Price per sqft$118
Location
Mortgage Calculator
Listing History
06/05/2025
Listed by KW Empower
$3,000,000
Property Details for 707 Chestnut Street
Exterior
Construction
New Construction: No
Number Of Units Total: 2
Year Built: 1900
Architectural Style: Other
Construction Materials: Masonry
Features
Other Structures: Above Grade, Below Grade
Waterfront: No
Measurements
Lot Dimensions Source: Assessor
Lot Size Acres: 0.11
Lot Size Dimensions: 28
Lot Size Source: Assessor
Lot Size Square Feet: 4,984
Lot Size Units: Square Feet
Financial
Taxes
Tax Annual Amount: $20,997.00
Tax Year: 2025
Interior
Features
Fireplace: No
Measurements
Living Area: 25,374
Living Area Source: Assessor
Other
Location
Tax Lot: 104
Parking
Parking
Garage: No
Utilities
Equipment
Cooling: Central A/C
Heating: Central
Has Heating: Yes
Sewer: Public Sewer
Water Source: Public
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