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 Market219
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:
Keller Williams Capital Properties
(856) 222-0077
Listed By:
Francis Brennan
Source:
Thetristaterealestategroup
Added: Mar 18
Changed: Oct 10
Last Checked: Oct 20 at 6:02PM
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 Capital Properties
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$165,160
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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
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
