Four-Unit Mixed-Use
For Sale
$948,000
1824 Ridge Avenue, Philadelphia, PA 19130
Fully occupied property combines residential apartments with a ground-floor commercial space and finished basement.
Property Size5,100 SF
Price / SF$185.88
Days on Market163
Property Features for 1824 Ridge Avenue
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Multi-family
Zoning
CMX 2.5
Occupancy
100%
Lease Term
[]
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
in unit washer/dryer
private roof access
backyard
Building Details
Year Built
2019
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty - Cherry Hill
Listed By:
Andrew F Cheng · License #RS3263312
(267) 506-7100
Source:
Deepcreeklake
Added: Apr 27
Changed: Oct 4
Last Checked: Oct 5 at 8:38PM
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 - Cherry Hill
Investment Insights
Based on property information with market context.
Built in 2019, this 5,100 SF mixed-use property contains four units: three residential apartments and one ground-floor commercial space with a finished basement. Each apartment includes two bedrooms, two full bathrooms, hardwood flooring, central HVAC, and an in-unit washer/dryer. The upper-level apartment also has private roof access, while the backyard serves as shared outdoor space for two residential units.
The building is fully occupied and carries CMX 2.5 zoning, supporting commercial and mixed-use applications. It fronts Ridge Avenue in Philadelphia, with public transportation access and proximity to Temple University and Center City. The combination of residential and commercial components provides a diversified occupancy profile within an urban setting.
The building is fully occupied and carries CMX 2.5 zoning, supporting commercial and mixed-use applications. It fronts Ridge Avenue in Philadelphia, with public transportation access and proximity to Temple University and Center City. The combination of residential and commercial components provides a diversified occupancy profile within an urban setting.
Key Highlights
- Four total units: three residential apartments plus one ground‑floor commercial space
- Three apartments with 2 bedrooms, 2 full baths, hardwood floors, central HVAC, and in‑unit washer/dryers
- 5,100 SF building constructed in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,221
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combines residential apartments with a ground-floor commercial space 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 total units: three residential apartments plus one ground‑floor commercial space; Three apartments with 2 bedrooms, 2 full baths, hardwood floors, central HVAC, and in‑unit washer/dryers; 5,100 SF building constructed in 2019
