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1654 Ridge Ave, Philadelphia, PA 19130

$2,399,999

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List Price: $2,399,999
Status: ACTIVE
MLS#: PAPH2475460
Lot Size (Acres): 0.05
Year Built: 2018
County: Philadelphia
School District: Philadelphia City

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Property Description

1654 Ridge presents a turnkey 7-unit investment opportunity along the bustling Ridge Avenue corridor in Philadelphia, Pennsylvania. Acquire this 6.75-cap boutique apartment building in a Top-10 USA MSA with the benefit of a 10yr tax abatement (expiring 2028), minimal OPEX and ±10% rental upside based on market comparables. The apartments are spaciously configured with a mixture of four (4) 1bdx1ba units, two (2) 3bdx3.5ba penthouse units, and operational ground floor commercial space. Anchored on a highly visible corner lot in Francisville, this prime ±9,000 SF multifamily asset commands attention with its prominent height and curb appeal. Private balconies + roofdecks (+common roofdeck) provide outdoor enjoyment for tenants — and panoramic downtown Philly skyline views. Easy access into Fairmount, Center City, Museums District, North Broad District + more — a completely accessible location — walkable to all of the world-class urban attractions Philadelphia has to offer. Tenant occupied (48hr notice to tour). Enquire within for pro forma financials and building plans.

215-669-6079

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Additional Information

Area: 19130 (19130)
Subdivision: Francisville
School District: Philadelphia City
Flooring: Vinyl
View: City
Heating: Central
Cooling: Central Air
Roof: Fiberglass
Water: Public
Sewer: Public Sewer