1654 RIDGE AVE, Philadelphia, PA 19130
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1654 RIDGE AVE, Philadelphia, PA 19130
1654 RIDGE AVE, Philadelphia, PA 19130
1654 RIDGE AVE, Philadelphia, PA 19130
1654 RIDGE AVE, Philadelphia, PA 19130
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Patrick Gorman

Patrick Gorman

+1(609) 707-5024
Listed by Ryan McManus • Keller Williams Liberty Place
$ 2,399,999
Est. payment /mo
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Active

1654 RIDGE AVE Philadelphia, PA 19130

2,231 Sqft Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Subdivision Francisville

MLS Listing ID PAPH2475460

Year Built 2018

Available Date 2025-05-05

Annual Tax Amount $5,988

Tax Year 2024

Lot Size 2,231 Sqft

Acres 0.05

Lot Dimensions 23.00 x 97.00

Property Sub-Type Five Or More Units

Source BRIGHT

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.

Location

State PA

County Philadelphia

Area 19130 (19130)

Zoning CMX25

Interior

Hot Water Natural Gas

Heating Central

Cooling Central A/C

Flooring Luxury Vinyl Plank

Heat Source Natural Gas

Exterior

Water Access N

View City

Roof Type Fiberglass

Accessibility None

Garage N

Building

Lot Description Corner

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 881443720

Ownership Fee Simple

Special Listing Condition Standard

Bright MLS (BMLS)
Patrick Gorman
Patrick Gorman

Team Leader - Licensed Agent in NJ/PA | License ID: NJ- 0340986 PA - RS375085

+1(609) 707-5024 | patrick.gorman@gormangrouprealtors.com

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1654 RIDGE AVE