Mixed-Use Building with Commercial
For Sale
$948,000
1824 RIDGE Avenue, Philadelphia, PA 19130
Multi-Family, PHILADELPHIA, PA
Property Size5,100 SF
Lot Size0.04 Acres
Price / SF$185.88
Days on Market130
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
Subdivision
FRANCISVILLE
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
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
Amenities
hardwood floors
central HVAC
in-unit washer/dryer
private roof access
backyard
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
Changed: Aug 19
Last Checked: Sep 5 at 1:06PM
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.
Built in 2019, this contemporary mixed-use building at 1824 Ridge Avenue contains approximately 5,100 square feet and four total units. Three apartments each offer two bedrooms, two full bathrooms, hardwood flooring, central HVAC, and in-unit laundry. The upper residence includes private roof access, while the backyard is designated as shared space for the first and second units. A commercial area occupies the ground floor and extends into a finished basement. Forced-air heating, central air, and on-street parking are among the property features.
The property is fully occupied and situated along Ridge Avenue in Philadelphia. CMX 2.5 zoning supports commercial and mixed-use use opportunities. Public transportation access and proximity to Temple University and Center City are also identified as location attributes.
The property is fully occupied and situated along Ridge Avenue in Philadelphia. CMX 2.5 zoning supports commercial and mixed-use use opportunities. Public transportation access and proximity to Temple University and Center City are also identified as location attributes.
Key Highlights
- Four‑unit mixed‑use property with approximately 5,100 SF
- Three 2‑bedroom, 2‑bath residential apartments
- Ground‑floor commercial space with finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,221
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,604,420
$1.6M
Cap Rate 7%
$1,146,014
$1.1M
Cap Rate 9%
$891,344
$891.3K
Market Conditions
NOI Build-Up for 5,100 SF
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.
Gross rent
$154.8K $30.36/SF
− Vacancy
−$9.0K −$1.76/SF
EGI
$145.9K $28.60/SF
− OpEx
−$65.6K −$12.87/SF
NOI
$80.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,604,420
Cap Rate 7%
$1,146,014
Cap Rate 9%
$891,344
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,221 @ 7.0% cap · market cap 8.46%
Second Best
Mixed Use
$865.5K
$757.4K – $1.01M
NOI $60,588 @ 7.0% cap · market cap 6.39%
Theoretical Best
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $87,031 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,556
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?
Mixed-use property - Occupied urban property combines three residential apartments with a ground-floor commercial suite and finished basement.
Where is this mixed-use property 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: Four‑unit mixed‑use property with approximately 5,100 SF; Three 2‑bedroom, 2‑bath residential apartments; Ground‑floor commercial space with finished basement
