Mixed-Use Quadplex with
1824 RIDGE Avenue Philadelphia, PA 19130
1824 RIDGE Avenue, Philadelphia, PA, 19130
$948,000
For Sale
$948,000
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size5,100 SF
Lot Size0.04 Acres
Price / SF$185.88
Days on Market84
Property Features for 1824 RIDGE Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Appliances
- Dishwasher, Disposal, Dryer - Electric, Microwave, Oven/Range - Electric, Refrigerator, Washer
- Standard status
- Active
- Size
- 5,100 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4506
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2019
- Number of units
- 4
- Building materials
- Block, Concrete, Combination
- Architectural style
- Contemporary
Listing agency
Keller Williams Realty
(856) 321-1212
Listed by
Andrew F Cheng · License #RS3263312
(267) 506-7100
Added: Apr 29 Updated: Jun 9 at 12:25PM Checked: Jul 21 at 11:06PM
MLS# PAPH2614322
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied mixed-use quadplex includes four total units, featuring three residential apartments and one ground-floor commercial space with a finished basement. Each apartment offers a 2-bedroom, 2-full-bath layout with hardwood flooring, central HVAC, and in-unit washer/dryer. The top unit provides private roof access for additional outdoor space, and there is also a backyard that can be shared between unit 1 and unit 2.
The property is located at 1824 Ridge Avenue in Philadelphia and is described as part of the highly trafficked Ridge Avenue corridor. It is zoned CMX 2.5, which supports flexible commercial and mixed-use opportunities.
The building totals approximately 5,100 square feet and presents diversified income through residential apartments and a dedicated commercial space.
The property is located at 1824 Ridge Avenue in Philadelphia and is described as part of the highly trafficked Ridge Avenue corridor. It is zoned CMX 2.5, which supports flexible commercial and mixed-use opportunities.
The building totals approximately 5,100 square feet and presents diversified income through residential apartments and a dedicated commercial space.
Key Highlights
- Fully occupied mixed‑use property built in 2019 with 4 total units on Philadelphia’s Ridge Avenue corridor
- 3 residential units: 2 bedrooms and 2 full baths per unit with hardwood floors and in‑unit washer/dryer
- Ground‑floor commercial space plus finished basement to diversify income, all within approximately 5,100 SF
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 9.18%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,221 @ 7.0% cap · market cap 8.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Fully occupied mixed-use quadplex with three 2-bedroom/2-bath apartments plus a ground-floor commercial space.
Where is this quadplex located?
The property is located at 1824 RIDGE Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $948,000.
What are key features of this property?
This property features: Fully occupied mixed‑use property built in 2019 with 4 total units on Philadelphia’s Ridge Avenue corridor; 3 residential units: 2 bedrooms and 2 full baths per unit with hardwood floors and in‑unit washer/dryer; Ground‑floor commercial space plus finished basement to diversify income, all within approximately 5,100 SF
