1601 Rdg Ave, Unit 3 Philadelphia, PA 19130-2365
- Commercial land
- 0.03 lot acres
Current Use by Public Records
- Commercial land
Property Details for 1601 Rdg Ave
- Lot size
- 0.03 lot acres
- Zone code
- CMX2.5
- Property type
- 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
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1635
- Latitude
- 39.9696
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
