2-Unit Duplex with Updated
263 Ridgeway Terrace Philadelphia, PA 19116
For Sale
$539,000
Well-maintained duplex with two 2-bedroom units, updated full bathrooms, and outdoor space with parking for each unit.
Property Size1,801 SF
Price / SF$299.28
Days on Market8
Property Features for 263 Ridgeway Terrace
General Information
- Standard status
- Active
- Size
- 1,801 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1962
Listing Agency:
KW Empower
(570) 592-5205
Listed By:
Ryan Windt · License #RS354179
(570) 592-5205
Source:
Compass
Added: Jul 16
Changed: Jul 21
Last Checked: Jul 22 at 11:33AM
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 KW Empower
Investment Insights
Based on property information with market context.
This well-maintained duplex features two units, each laid out with a bright living space, two generously sized bedrooms, and ample closet storage. Kitchens include plenty of cabinet space and room for everyday dining. Both units’ full bathrooms have been recently updated. The property also offers outdoor space and two parking spaces per unit.
Located on a quiet residential block in the Somerton section of Northeast Philadelphia, the home provides convenient connections to major roadways for commuting.
The duplex is offered for sale as a residential income property with an easy-to-understand 2+2 configuration across both units.
Located on a quiet residential block in the Somerton section of Northeast Philadelphia, the home provides convenient connections to major roadways for commuting.
The duplex is offered for sale as a residential income property with an easy-to-understand 2+2 configuration across both units.
Key Highlights
- Well‑maintained 2+2 duplex built in 1962 in Philadelphia’s Somerton section
- Two 2‑bedroom units with bright living spaces and ample closet storage
- Full bathrooms in both units were recently updated
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 | $46.5k | $25.80 |
| − Vacancy | −$2.6k | −$1.42 |
| EGI | $43.9k | $24.38 |
| − OpEx | −$13.2k | −$7.31 |
| NOI | $30.7k | $17.06 |
1,801 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$439.1K
$384.2K – $512.2K
NOI $30,734 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.2K
NOI $28,329 @ 7.0% cap · market cap 5.26%
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
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained duplex with two 2-bedroom units, updated full bathrooms, and outdoor space with parking for each unit.
Where is this duplex located?
The property is located at 263 Ridgeway Terrace Philadelphia, PA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Well‑maintained 2+2 duplex built in 1962 in Philadelphia’s Somerton section; Two 2‑bedroom units with bright living spaces and ample closet storage; Full bathrooms in both units were recently updated
