Elevator Apartment Building with Penthouse Roof
New
For Sale
$2,600,000
1540 RIDGE AVENUE 42, Philadelphia, PA 19130
Eight one-bedroom apartments and two ground-floor commercial spaces in an elevator building built in 2019.
Days on Market2
Property Features for 1540 RIDGE AVENUE 42
General Information
Standard status
Active
Elevators
Yes
Property subtype
Multi Family
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Additional Details
Public Transit
Yes
Building Details
Building Size
10,500 SF
Year Built
2019
Listing Agency:
Howard Hanna Real Estate Services
(267) 353-4123
Listed By:
Haralabos Kiziroglou · License #RS337549
(267) 353-4123
Source:
Patmckennarealtors
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 6:54AM
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 Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
This 2019-built apartment building features eight one-bedroom apartments, including two penthouse units with private roof deck access. The property also includes two ground-floor commercial spaces, supporting a mixed-use configuration.
The building is described as 100% stabilized and includes an elevator. Each apartment is equipped with stainless steel appliances, a washer and dryer, and quartz countertops.
The property is located in the Francisville area of Philadelphia, close to SEPTA’s Girard/Broad St Station and The Met Philadelphia, with nearby coffee shops, restaurants, gyms, and other retailers. The building is also tax abated, with 4+ years remaining on the tax abatement.
The building is described as 100% stabilized and includes an elevator. Each apartment is equipped with stainless steel appliances, a washer and dryer, and quartz countertops.
The property is located in the Francisville area of Philadelphia, close to SEPTA’s Girard/Broad St Station and The Met Philadelphia, with nearby coffee shops, restaurants, gyms, and other retailers. The building is also tax abated, with 4+ years remaining on the tax abatement.
Key Highlights
- Eight one‑bedroom apartments, including two penthouse units with private roof deck access
- Two ground‑floor commercial spaces for mixed‑use income potential
- Described as 100% stabilized
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 authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom apartments and two ground-floor commercial spaces in an elevator building built in 2019.
Where is this apartment building located?
The property is located at 1540 RIDGE AVENUE 42 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: Eight one‑bedroom apartments, including two penthouse units with private roof deck access; Two ground‑floor commercial spaces for mixed‑use income potential; Described as 100% stabilized
