2626-30 RIDGE AVE Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19121
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,219 sqft
Price per Sqft $218
Subdivision Philadelphia (Northwest)
MLS Listing ID PAPH2245958
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $5,189
Tax Year 2023
Lot Size 3,597 Sqft
Acres 0.08
Property Description
Motivated seller. Significant value add opportunity through continued leasing. Market rents are $1550-$1650 if new owner chooses, section 8 new 2 bedroom rent allows up to $1764 per month. 2626-30 Ridge avenue is an 8 unit property with a 1 car garage. It was fully gut renovated this year. This property is available as part of a portfolio or may be purchased individually. Unit 2 is currently available for lease and is being marketed at $1650 per month.
The portfolio is comprised of 15 units over 4 locations. Two duplexes, a
triplex, and an eight unit building with a single car garage. All properties
are located in Philadelphia neighborhoods of Sharswood and Olde
Kensington. Per website Best Places, the 19133 (Old Kensington) zip code has
enjoyed 17.3% home appreciation in the last 10 years.
It also has a robust market for renters making up 45.3% of the population.
Home appreciation in the 19121 zip code (Sharswood) has been 19.8%
over the last 10 years . Renters make up 49.8% of
the population. All of these properties have undergone full gut
renovations and were stripped down to the studs. Many of the layouts
were reconfigured. Each property was then rebuilt with new electric,
plumbing, hvac, roofing, windows, curb traps where necessary,
appliances, kitchens, bathrooms, etc... Each property has a 10 year tax
abatement secured. All properties will be sold "as is, where is with all faults and defects"
Please take a look at the additional information on the attached brochures. Available properties are a duplex at 2118 W Master st Philadelphia PA 19121, a duplex at 2527 N Front st Philadelphia PA 19133, Triplex at 2323 N 2nd st Philadelphia PA 19121. Portfolio Price $3.35mm
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM 1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 1.0
Waterfront N
Water Access N
Accessibility Other
Parking Type On Street,Private Garage
Total Parking Spaces 1
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871542230
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard