Homes for sale - 2626-30 RIDGE AVE, Philadelphia, PA 19121

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Andie Scheidt

[email protected] +1(410) 241-1754

$ 1,575,000

Est. payment -/mo

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2626-30 RIDGE AVE Philadelphia, PA 19121

7,219 SqFt

UPDATED:

08/30/2024 03:24 PM

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

Listed by Brian Ashby • EMORY HILL REAL ESTATE SERVICES INC.

Andie Scheidt

License ID: 652506

+1(410) 241-1754

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