Residential Income Property with Roof
For Sale
$439,900
1526 RIDGE AVENUE Unit 5, Philadelphia, PA 19130
A two-level condo combines private outdoor space with elevator access and in-unit laundry.
Property Size1,461 SF
Days on Market23
Property Features for 1526 RIDGE AVENUE Unit 5
General Information
Standard status
Active
Size
1,461 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Francisville
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,053
Amenities
private roof deck
secure entrance
central air
in-unit laundry
recessed lighting
floor to ceiling windows
stainless steel appliances
center island
soaring ceilings
walk-in closet
storage
Building Details
Building Size
1,461 SF
Year Built
2017
Listing Agency:
Keller Williams Main Line
Listed By:
Joan Matusiak · License #RS282272
(570) 574-3735
Source:
Patmckennarealtors
Added: Oct 10
Changed: Oct 31
Last Checked: Oct 30 at 11:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Main Line
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Investment Insights
Based on property information with market context.
This two-level condo in an eight-unit building offers 2 bedrooms and 2.5 baths. Floor-to-ceiling windows bring natural light into the open layout, while the kitchen includes stainless steel appliances, a center island, and ample cabinetry. The primary bedroom has a walk-in closet; additional features include central air, recessed lighting, in-unit laundry, and storage. A private roof deck provides Philadelphia skyline views. The building was completed in 2017 and has a secure entrance and elevator.
The property is near Fairmount and Ridge Avenues, the Broad Street Line, bus routes, and I-676. Center City is described as a five-minute subway trip or a 20-minute walk. Nearby parks include Francisville Playground and Ogden Park, with the Philadelphia Museum of Art and Schuylkill River Trail also within reach. Approximately two years remain on the tax abatement.
The property is near Fairmount and Ridge Avenues, the Broad Street Line, bus routes, and I-676. Center City is described as a five-minute subway trip or a 20-minute walk. Nearby parks include Francisville Playground and Ogden Park, with the Philadelphia Museum of Art and Schuylkill River Trail also within reach. Approximately two years remain on the tax abatement.
Key Highlights
- Two‑level condo with 2 bedrooms and 2.5 baths
- Private roof deck with Philadelphia skyline views
- Eight‑unit building completed in 2017, with secure entry and elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,981
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,620
$459.6K
Cap Rate 7%
$328,300
$328.3K
Cap Rate 9%
$255,344
$255.3K
Market Conditions
NOI Build-Up for 1,461 SF
Gross rent
$44.4K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$41.8K $28.60/SF
− OpEx
−$18.8K −$12.87/SF
NOI
$23.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,620
Cap Rate 7%
$328,300
Cap Rate 9%
$255,344
Alternative Uses
Best Use
Apartment 5plus
$328.3K
$287.3K – $383.0K
NOI $22,981 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,089
Businesses Nearby
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Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level condo combines private outdoor space with elevator access and in-unit laundry.
Where is this residential income property located?
The property is located at 1526 RIDGE AVENUE Unit 5 Philadelphia, PA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Two‑level condo with 2 bedrooms and 2.5 baths; Private roof deck with Philadelphia skyline views; Eight‑unit building completed in 2017, with secure entry and elevator
