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    2530 Ridge Ave Philadelphia, PA 19121

    Sponsored
    For Sale
    $3,200,000

    18-Unit Portfolio, 97% Occupancy

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a stabilized, six-building multifamily portfolio in Philadelphia, PA. The portfolio comprises 18 units (31 bedrooms, 19 bathrooms) totaling approximately 13,500 square feet, currently boasting a 97% occupancy rate and a 9.41% cap rate based on a Net Operating Income (NOI) of $301,010. The properties, meticulously renovated in 2022, are classified as Class B and situated in a RM1 zoned area. All units except those at 2725 Glenwood Ave are leased through the Philadelphia Housing Authority (PHA), providing guaranteed rent payments. The portfolio's current asking price is $3,200,000, translating to a price per unit of $177,778. Significant rental increases are projected for 2024, further enhancing the investment's potential return. The portfolio's prime location offers convenient access to Philadelphia schools and essential amenities, contributing to strong rental demand. This fee-simple ownership opportunity is ideal for investors seeking a turnkey, high-performing multifamily asset in a thriving urban market. The portfolio includes properties located at 2725 Glenwood Ave, 2530 Ridge Ave, 1913 N 23rd St, 1941 N 23rd St, 1210 W Dauphin St, and 1212 W Dauphin St, all within Philadelphia, PA 19121.

    Property Features for 2530 Ridge Ave

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Renovated
    2022
    Buildings
    6
    Units
    18

    HighLights

    • Six‑building multifamily portfolio totaling 18 units (31 bedrooms, 19 baths), 13,500 square feet.
    • 97% occupancy, 9.41% cap rate, $301,010 NOI.
    • $3,200,000 asking price ($177,778 per unit).
    • Class B properties, meticulously renovated in 2022, located in Philadelphia, PA's RM1 zone.
    • Most units leased to Philadelphia Housing Authority (PHA), guaranteeing rent payments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1761508
    Latitude
    39.9831003

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    FAQs

    What type of property is this?
    Multifamily property - 18-Unit Portfolio, 97% Occupancy
    Where is this multifamily property 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: Six-building multifamily portfolio totaling 18 units (31 bedrooms, 19 baths), 13,500 square feet.; 97% occupancy, 9.41% cap rate, $301,010 NOI.; $3,200,000 asking price ($177,778 per unit).
    Request Owner's contact information
    2530 Ridge Ave Philadelphia, PA 19121
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2530 Ridge Ave Philadelphia, PA 19121
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