CHARIS REALTY GROUP

1540 RIDGE AVENUE 42

PHILADELPHIA, PA 19130

MLS#: PAPH2596366

$2,600,000

Status: Active
Listing number: PAPH2596366
Listing provided by: Howard Hanna Real Estate Services
Listing agent phone: None
Last update: 4 days ago
On site: 3 months ago
Browse Properties
FRANCISVILLE - Commercial Sale

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

2019

Sq.Footage

10,500

PRIME INVESTMENT OPPORTUNITY! We are proud to present 1540 Ridge Avenue: * 8 one bedroom apartments with two of these units being penthouse units with private roof deck access * 2 Ground Floor Commercial Spaces * 100% stabilized property * Tax abated building (4+ years left on the tax abatement) * Stainless Steel Appliances, Washer and Dryer in every unit, quartz countertops * Elevator building * Located in the heart of booming Francisville * A short walk to SEPTA Girard/Broad St Station, The Met Philadelphia, along with coffee shops, restaurants, gyms and many other retailers. * The Francisville neighborhood is popular among renters due to its proximity to Center City and Temple University. Please reach out for additional information and financials.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Central Air, Electric

  • Heating YN

    YES

  • Heating

    Electric, Central

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    On Street

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.05

  • Lot Size(square feet)

    2017.0

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $2,600,000

  • Tax Amount

    $1,701

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    5

  • New Construction

    YES

  • Accessibility Features

    Accessible Elevator Installed

  • Sewer

    Septic Tank

  • Tax Lot

    280

  • Water Source

    Public

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Location

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PHILADELPHIA

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Listing Courtesy of Haralabos Kiziroglou , Howard Hanna Real Estate Services

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Agent Betty Everly

Branch Manager- Bedford

Betty Everly

Call Betty today to schedule a private showing.

(814) 215-7521

betty@charisrealty.com


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PRIME INVESTMENT OPPORTUNITY! We are proud to present 1540 Ridge Avenue: * 8 one bedroom apartments with two of these units being penthouse units with private roof deck access * 2 Ground Floor Commercial Spaces * 100% stabilized property * Tax abated building (4+ years left on the tax abatement) * Stainless Steel Appliances, Washer and Dryer in every unit, quartz countertops * Elevator building * Located in the heart of booming Francisville * A short walk to SEPTA Girard/Broad St Station, The Met Philadelphia, along with coffee shops, restaurants, gyms and many other retailers. * The Francisville neighborhood is popular among renters due to its proximity to Center City and Temple University. Please reach out for additional information and financials.

1540 RIDGE AVENUE 42

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Welcome to 1605 Ridge — a 6.69% CAP, boutique multifamily property sited at the prominent Ridge & Parrish corner intersection (at 16th Street) in the booming Francisville submarket of Philadelphia, Pennsylvania. Spanning 3 property widths (1601-03-05) with soft corner exposure, The Property commands a strong presence on the Francisville streetscape with a brick-clad base and bay windows above. Throughout its operating history, there has been little-to-no vacancy in the building — a testament to the quality of construction, location and spatial quality of the asset. On the ground floor, a neighborhood daycare operates the commercial space, having just exercised their 5-year NNN lease renewal option. Upstairs, there are five (5) oversized apartments, each with unique layouts: one (1) studio, three (3) 2bd x 2ba units and one (1) 3bd x 2ba unit. New Ownership can add a 5th floor “as of right” based on the current zoning in place and increase the density/unit count. Private roofdecks feature prominently in 1601-5 Ridge with Center City skyline views from atop the 4th floor. Located in the Francisville submarket just outside of Downtown Philly, residents of this ±9,000 SF apartment building benefit from proximity to shops, breweries, cafes, grocers, restaurants and multimodal transport options — placing the entire city within reach of 1601-5 Ridge. Invest in a Top-10 USA MSA with the acquisition of 1605 Ridge. Real estate investment demand is largely driven by Philly’s relative affordability as compared to its pricier neighbors to the north (New York, Boston) and south (Washington, D.C., Maryland, Virginia), with comparable lifestyle standards — connectivity, culture, cuisine and convenience in Greater Philadelphia rival the nation’s leading metros. Investment sales in the Francisville submarket have been surging, largely due to its desirability for young professionals seeking contemporary accommodations in new construction apartments just outside of the downtown urban core.
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- property

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