Elevator Apartment Building with
For Sale
$2,600,000
1540-42 Ridge Avenue, Philadelphia, PA 19130
Apartment building featuring eight one-bedroom units plus two ground-floor commercial spaces, offered as 100% stabilized with tax abatement.
Property Size10,500 SF
Price / SF$247.62
Days on Market173
Property Features for 1540-42 Ridge Avenue
General Information
Standard status
Active
Size
10,500 SF
Property subtype
Multi-Family
Zoning
CMX25
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$1,701
Amenities
Electric
Yes
5
Estimated
Combination Kitchen/Living,Floor Plan - Open,Kitchen - Island,Recessed Lighting,Sprinkler System,Window Treatments
1
No Pool
Public
CA0
0.05
No
On Street
121500.00
Building Details
Building Size
10,500 SF
Year Built
2019
Listing Agency:
KW Empower
(856) 222-0077
Listed By:
Francis Brennan
Source:
Thetristaterealestategroup
Added: Mar 18
Changed: Sep 5
Last Checked: Sep 6 at 5:07AM
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 KW Empower
Investment Insights
Based on property information with market context.
This multifamily property includes eight one-bedroom apartments, with two units described as penthouses that offer private roof deck access. The building also has two ground-floor commercial spaces. Interior amenities noted include stainless steel appliances, washer and dryer in every unit, and quartz countertops. The property is served by an elevator.
The offering is described as 100% stabilized and includes a tax abatement with 4+ years remaining. The property is located at 1540–42 Ridge Avenue in Philadelphia.
As presented, the building combines residential income from the apartment units with income potential from the two ground-floor commercial spaces.
The offering is described as 100% stabilized and includes a tax abatement with 4+ years remaining. The property is located at 1540–42 Ridge Avenue in Philadelphia.
As presented, the building combines residential income from the apartment units with income potential from the two ground-floor commercial spaces.
Key Highlights
- 2019‑built elevator building with 8 one‑bedroom apartments and 2 ground‑floor commercial spaces
- Two penthouse one‑bedroom units include private roof deck access
- Each unit includes stainless steel appliances plus a washer and dryer; quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$165,160
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,303,200
$3.3M
Cap Rate 7%
$2,359,429
$2.4M
Cap Rate 9%
$1,835,111
$1.8M
Market Conditions
NOI Build-Up for 10,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$318.8K $30.36/SF
− Vacancy
−$18.5K −$1.76/SF
EGI
$300.3K $28.60/SF
− OpEx
−$135.1K −$12.87/SF
NOI
$165.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,303,200
Cap Rate 7%
$2,359,429
Cap Rate 9%
$1,835,111
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,160 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,181 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,089
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building featuring eight one-bedroom units plus two ground-floor commercial spaces, offered as 100% stabilized with tax abatement.
Where is this apartment building located?
The property is located at 1540-42 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 2019‑built elevator building with 8 one‑bedroom apartments and 2 ground‑floor commercial spaces; Two penthouse one‑bedroom units include private roof deck access; Each unit includes stainless steel appliances plus a washer and dryer; quartz countertops
