1601 Ridge AvePhiladelphia, PA 19130

Property Details for 1601 Ridge Ave

Lot size

0.03 AC

Zone code

CMX2.5

Property type

Land

Property subtype

Commercial land

APN

87-1-4035-35

APU

871403535

Description

This exceptional 6-unit Class A apartment building in Philadelphia's booming Francisville neighborhood presents a compelling investment opportunity. Built in 2019, the property boasts 7,380 square feet across two four-story buildings, offering a mix of studio, two-bedroom, and three-bedroom units. A ground-floor commercial space is currently under a five-year NNN lease with a neighborhood daycare. Each residential unit is oversized and features unique layouts, with several including private roof decks offering Center City skyline views. The property's prime location at the corner of Ridge and Parrish avenues provides excellent visibility and accessibility to shops, restaurants, and public transportation. The current zoning permits the addition of a fifth floor, allowing for increased density and potential unit count. The asking price is $2,100,000, or $350,000 per unit, with a price per square foot of $284.55. This property offers significant potential for appreciation and strong rental income, making it an ideal addition to any investment portfolio. Buyer to verify taxes, square footage, and financials. Tenant occupied

• Alternative Use

  Use

  Valuation

  Residential

  $319,578

  Hospitality

  $292,731

  Educational

  $243,549

  Medical

  $251,925

  Retail

  $378,854

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9696

Longitude

-75.1635

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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