Renovated Multifamily
For Sale
$1,050,000
2626 Ridge Avenue, Philadelphia, PA 19121
Two adjacent triplex buildings provide six apartments with central air and a mix of two-bedroom and studio layouts.
Property Size5,347 SF
Price / SF$196.37
Days on Market337
Property Features for 2626 Ridge Avenue
General Information
Standard status
Active
Size
5,347 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x 2BR, 1 x studio
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,465
Amenities
Central Air
3
RM1
Parking.
On Street.
32.00 x 63.00
Building Details
Year Built
1915
Year Renovated
2023
Buildings
2
Listing Agency:
City & Suburban Real Estate
(215) 498-6512
Listed By:
Stefan Schecter · License #RS361135
(215) 498-6512
Source:
Xome
Added: Sep 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:56PM
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 City & Suburban Real Estate
Investment Insights
Based on property information with market context.
This multifamily package combines two adjacent triplex buildings at 2626 and 2628 Ridge Avenue in Philadelphia. Together, the properties contain six apartments: five two-bedroom units and one studio. Four apartments are currently occupied. The buildings were renovated in 2023 and include central air. The structures date to 1915 and carry RM1 zoning. Exterior information identifies on-street parking and two adjoining lots with dimensions of 32.00 x 63.00. The property offers a six-unit configuration across two separately addressed buildings, with a defined unit mix and recent renovation history.
Key Highlights
- Two triplex buildings at 2626 and 2628 Ridge Avenue
- Six total units: five two‑bedrooms and one studio
- Four of 6 units are presently occupied
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
$91,246
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
8.69%
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%
$1,824,920
$1.8M
Cap Rate 7%
$1,303,514
$1.3M
Cap Rate 9%
$1,013,844
$1.0M
Market Conditions
NOI Build-Up for 5,347 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
$138.0K $25.80/SF
− Vacancy
−$7.6K −$1.42/SF
EGI
$130.4K $24.38/SF
− OpEx
−$39.1K −$7.31/SF
NOI
$91.2K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,824,920
Cap Rate 7%
$1,303,514
Cap Rate 9%
$1,013,844
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,246 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,106 @ 7.0% cap · market cap 8.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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?
Multifamily property - Two adjacent triplex buildings provide six apartments with central air and a mix of two-bedroom and studio layouts.
Where is this multifamily property located?
The property is located at 2626 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two triplex buildings at 2626 and 2628 Ridge Avenue; Six total units: five two‑bedrooms and one studio; Four of 6 units are presently occupied
