2150 Ridge Ave Philadelphia, PA 19121
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 2150 Ridge Ave
- Property type
- Commercial real estate
Description
This three-unit apartment building at 2150 Ridge Ave, Philadelphia, PA 19121, presents a compelling investment opportunity. Currently, two units are rented, generating a monthly income of $1,450 ($700 and $750 respectively). The third unit is vacant, offering immediate potential for increased revenue. With cosmetic updates, rental income could reach $3,000 per month ($1,000 per unit). Further potential exists through Section 8/PHA approval, which could nearly double rental income to approximately $3,900 per month. The property boasts a strong 9% capitalization rate. Located in the desirable Sharswood neighborhood, it benefits from proximity to public transportation, Brewerytown, grocery stores, laundromats, and the Stephen Klein Wellness Center. The property is zoned CMX2. This is a ground lease-free property with an asking price of $240,000. The property's location in a rapidly developing area makes it an ideal investment for maximizing returns. This is a cash-flowing asset with significant upside potential.
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
- -75.1708772
- Latitude
- 39.9792548
