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1654 Ridge Ave
Philadelphia, PA 19130
Multifamily Property For Sale
·
7 Units
INVESTMENT HIGHLIGHTS
- TURNKEY INVESTMENT PROPERTY
- 10 YEAR TAX ABATEMENT THRU 2028
- BOUTIQUE APARTMENT BUILDING
- ±10% RENTAL UPSIDE
- TOP 10 USA MSA REAL ESTATE
- PROMINENT CORNER SITING
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
| Price Per Unit | $342,857 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.75% | Lot Size | 0.05 AC |
| No. Units | 7 | Building Size | 12,433 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1920 |
| Zoning | CMX 2.5 - pedestrian-friendly retail and service uses in commercial areas. It promotes active, mixed-use environments with a focus on walkability | ||
| Price Per Unit | $342,857 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 12,433 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Zoning | CMX 2.5 - pedestrian-friendly retail and service uses in commercial areas. It promotes active, mixed-use environments with a focus on walkability |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+3.5 | 2 | - | - |
PROPERTY TAXES
| Parcel Number | 881443720 | Improvements Assessment | $1,292,040 |
| Land Assessment | $143,560 | Total Assessment | $1,435,600 |
PROPERTY TAXES
Parcel Number
881443720
Land Assessment
$143,560
Improvements Assessment
$1,292,040
Total Assessment
$1,435,600
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1654 Ridge Ave
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