Mixed-Use Retail and Residential
1824 Ridge Avenue Philadelphia, PA 19130
1824 Ridge Avenue, Philadelphia, PA, 19130
$980,000
For Sale
$980,000
Mixed-use building with 3 two-bedroom apartments and ground-floor commercial space, fully occupied with central HVAC and washer/dryer.
Property Size5,100 SF
Price / SF$192.16
Days on Market92
Property Features for 1824 Ridge Avenue
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 2019
Listing agency
Keller Williams Realty
(267) 506-7100
Listed by
Andrew F Cheng · License #RS3263312
(267) 506-7100
Source
Compass
Added: Apr 21 Updated: Jul 20 at 5:35PM Checked: Jul 20 at 5:35PM
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 Realty
Investment Insights
Based on property information with market context.
This fully occupied, mixed-use investment building is approximately 6 years old and includes four total units: three residential apartments and one ground-floor commercial space with a finished basement. Each apartment features two bedrooms, two full bathrooms, hardwood flooring throughout, central HVAC, and in-unit washer/dryer. The top unit includes private roof access, and there is a backyard that can be used as community space shared with unit 1 and unit 2.
The property is located along the Ridge Avenue corridor in Philadelphia and is described as being on a highly trafficked roadway with public transportation access. The listing notes proximity to Temple University and Center City.
The building is identified as zoned CMX 2.5, supporting flexible commercial and mixed-use opportunities.
The property is located along the Ridge Avenue corridor in Philadelphia and is described as being on a highly trafficked roadway with public transportation access. The listing notes proximity to Temple University and Center City.
The building is identified as zoned CMX 2.5, supporting flexible commercial and mixed-use opportunities.
Key Highlights
- 4‑unit mixed‑use building includes 3 residential apartments and 1 ground‑floor commercial space
- All 3 apartments are 2 bed / 2 full bath with hardwood floors throughout
- Central HVAC plus in‑unit washer/dryer in the residential apartments
Local Financial Insights For Multifamily LT 5
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 | $131.6k | $25.80 |
| − Vacancy | −$7.3k | −$1.42 |
| EGI | $124.3k | $24.38 |
| − OpEx | −$37.3k | −$7.31 |
| NOI | $87.0k | $17.06 |
5,100 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $87,031 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,221 @ 7.0% cap · market cap 8.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Mixed-use building with 3 two-bedroom apartments and ground-floor commercial space, fully occupied with central HVAC and washer/dryer.
Where is this triplex located?
The property is located at 1824 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 4‑unit mixed‑use building includes 3 residential apartments and 1 ground‑floor commercial space; All 3 apartments are 2 bed / 2 full bath with hardwood floors throughout; Central HVAC plus in‑unit washer/dryer in the residential apartments
