2530 Ridge Ave Philadelphia, PA 19121

Listing Agency Keller Williams Philly r***@cbpref.com Show Phone

Listed by Rich Cassell · License #PA RS330536

Source Crexi

Added: Sep 25, 2023 Checked: Jul 20 at 6:40 am

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Investment Insights

Based on property information with market context.

This investment opportunity features a portfolio of six triplex multi-family buildings located in Philadelphia. The properties offer a total of 18 units, 19 bathrooms, and 31 bedrooms. The properties have been recently renovated. All leases except for the Glenwood units are through PHA, ensuring guaranteed rent payments. The 2024 rents are poised to increase $1764 for 2 beds and $1476 for 1 beds. The properties are conveniently located near Philadelphia schools. There exists an opportunity to maximize returns by adjusting rental rates to align with the current market conditions. The advertised rents are for 2024 proforma, and the current cap rate is 8%+. The properties are strategically positioned in Philadelphia, offering easy access to schools and essential amenities, making the location poised for growth and offering excellent rental potential.

Key Highlights

• Portfolio of six recently renovated triplex multi‑family buildings totaling 18 units.
• Guaranteed rent payments for most units through PHA (Philadelphia Housing Authority).
• Significant rent increases scheduled for 2024 ($1764 for 2‑bedroom units and $1476 for 1‑bedroom units).

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FAQs

What type of property is this?

Triplex - Six renovated triplexes with 18 units and guaranteed rent.

Where is this triplex located?

The property is located at 2530 Ridge Ave Philadelphia, PA.

What is the asking price?

The asking price for this property is $3,200,000.

What are key features of this property?

This property features: Portfolio of six recently renovated triplex multi‑family buildings totaling 18 units.; Guaranteed rent payments for most units through PHA (Philadelphia Housing Authority).; Significant rent increases scheduled for 2024 ($1764 for 2‑bedroom units and $1476 for 1‑bedroom units).