Philadelphia Triplex
For Sale
Contact for pricing
Pending
2530 Ridge Ave, Philadelphia, PA 19121
Six renovated triplexes with 18 units and guaranteed rent.
Property SizeContact for details
Days on Market1079
Property Features for 2530 Ridge Ave
General Information
Standard status
Pending
Class
B
Property subtype
Multifamily
Zoning
RM1
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$301,010
Building Details
Year Renovated
2022
Buildings
6
Units
18
Listing Agency:
Keller Williams Philly
Listed By:
Rich Cassell · License #PA RS330536
(609) 217-1577
Source:
Crexi
Added: Sep 25, 2023
Changed: Sep 4
Last Checked: Sep 7 at 8:11AM
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 Philly
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).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,502
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?
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).
