1723 Ridge Ave - Apartments FOR SALE


Philadelphia, PA 19130- North Philadelphia West
$5,700,000 USD
610-606-1095
1723 Ridge Ave, Philadelphia, PA for Sale
$5,700,000 USD
Apartments - FOR SALE
1/101
null | 6.2% Cap Rate

1723 Ridge Ave
Philadelphia, PA 19130
North Philadelphia West


HIGHLIGHTS

  • PRIME LOCATION ON RIDGE AVENUE
  • COVETED 19130 SUBMARKET
  • 10 YEAR TAX ABATEMENT
  • TURNKEY NEW CONSTRUCTION MULTIFAMILY
  • BOUTIQUE APARTMENT BUILDING
  • TOP 10 USA MSA

OVERVIEW

Prime on Ridge presents a turnkey 15-unit investment opportunity along the bustling Ridge Avenue corridor in Philadelphia, Pennsylvania. Acquire this —16,250 SF, 5-storey, boutique luxury apartment building in a Top-10 USA MSA with the benefit of a 10yr tax abatement (expiring 2032), minimal OPEX and ±15% rental upside based on market comps. These designer apartments are professionally built (2022 vintage) with an even mixture of seven (7) 1bd units and seven (7) 2bd units atop ground floor commercial space. Anchored on a highly visible block in Francisville (19130), this superior multifamily asset commands attention within the renter pool with its exquisite curb appeal and luxury interiors. The panoramic rooftop terrace provides unparalleled city skyline views. Easy access into Fairmount, Center City, Museums District, North Broad District + more — a completely accessible location — walkable to all of the world-class urban attractions Philadelphia has to offer. Enquire within for pro forma financials and building plans.

FOR SALE DETAILS

PRICE

$5,700,000 USD

PRICE/SF

$407 USD /SF

# OF UNITS

15

PRICE/UNIT

$380,000

CAP RATE

6.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PRIME ON RIDGE

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,990 SF

ZONING

CMX-2.5

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Ryan McManusAgent PHLMore Info
610-606-1095

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Ryan McManusAgent PHLMore Info
610-606-1095

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.