USAPAPhiladelphiaFrancisville1605 Ridge Ave
1605 Ridge Ave, Home with 0 bedrooms, 0 bathrooms and null parking in PHILADELPHIA PA | Image 1
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$2,100,000

1605 Ridge Ave, Philadelphia, PA

Real Estate

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Residential Income
Size 9000 sqft
Garage No
Maintenance Fees 
Taxes $1,514
Days Active 24
Approx. Age 2018
Avg. Price Per Sqft $233
MLS® Number PAPH2515408

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Welcome to 1605 Ridge — a 6.69% CAP, boutique multifamily property sited at the prominent Ridge & Parrish corner intersection (at 16th Street) in the booming Francisville submarket of Philadelphia, Pennsylvania. Spanning 3 property widths (1601-03-05) with soft corner exposure, The Property commands a strong presence on the Francisville streetscape with a brick-clad base and bay windows above. Throughout its operating history, there has been little-to-no vacancy in the building — a testament to the quality of construction, location and spatial quality of the asset. On the ground floor, a neighborhood daycare operates the commercial space, having just exercised their 5-year NNN lease renewal option. Upstairs, there are five (5) oversized apartments, each with unique layouts: one (1) studio, three (3) 2bd x 2ba units and one (1) 3bd x 2ba unit. New Ownership can add a 5th floor “as of right” based on the current zoning in place and increase the density/unit count. Private roofdecks feature prominently in 1601-5 Ridge with Center City skyline views from atop the 4th floor. Located in the Francisville submarket just outside of Downtown Philly, residents of this ±9, 000 SF apartment building benefit from proximity to shops, breweries, cafes, grocers, restaurants and multimodal transport options — placing the entire city within reach of 1601-5 Ridge. Invest in a Top-10 USA MSA with the acquisition of 1605 Ridge. Real estate investment demand is largely driven by Philly’s relative affordability as compared to its pricier neighbors to the north (New York, Boston) and south (Washington, D.C., Maryland, Virginia), with comparable lifestyle standards — connectivity, culture, cuisine and convenience in Greater Philadelphia rival the nation’s leading metros. Investment sales in the Francisville submarket have been surging, largely due to its desirability for young professionals seeking contemporary accommodations in new construction apartments just outside of the downtown urban core.Show Description
MLS® NumberPAPH2515408
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age2018
Stories4
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatCentral, Electric
A/CCentral A/C, Electric
Heating Fuel

Extras

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