Elevator Apartment Building with
1540-42 Ridge Avenue Philadelphia, PA 19130
For Sale
$2,600,000
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 Market128
Property Features for 1540-42 Ridge Avenue
General Information
- Standard status
- Active
- Size
- 10,500 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2019
Listing Agency:
JBMP Group
(856) 222-0077
Listed By:
Francis Brennan
Source:
Thetristaterealestategroup
Added: Mar 18
Changed: Jul 21
Last Checked: Jul 23 at 3:28AM
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 JBMP Group
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $318.8k | $30.36 |
| − Vacancy | −$18.5k | −$1.76 |
| EGI | $300.3k | $28.60 |
| − OpEx | −$135.1k | −$12.87 |
| NOI | $165.2k | $15.73 |
10,500 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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
