1602 Ridge Avenue

Philadelphia, PA 19130

$1,199,000
Price
3
Beds
3
Baths
5,750 Sq. Ft.
$209 / Sq. Ft.
5,750
Sq. Ft.
$209
per Sq. Ft.

Description

Extraordinary investment opportunity in booming Fairmount! Ground-up new construction, over $103,000 in projected net annual income, solid 8.75% cap rate. Estimated June 2024 completion. Stunning curb appeal with custom corrugated stone, white brick, Parisian wrought-iron Juliette balconies. Ground-floor bi-level commercial space features 12’ main-level ceilings and 8’ below-grade. Luxury 1-bedroom apartments offer 730 square feet of brilliantly designed living space with exceptional storage and...Extraordinary investment opportunity in booming Fairmount! Ground-up new construction, over $103,000 in projected net annual income, solid 8.75% cap rate. Estimated June 2024 completion. Stunning curb appeal with custom corrugated stone, white brick, Parisian wrought-iron Juliette balconies. Ground-floor bi-level commercial space features 12’ main-level ceilings and 8’ below-grade. Luxury 1-bedroom apartments offer 730 square feet of brilliantly designed living space with exceptional storage and magnificent natural light. Wide-plank white-oak flooring, expansive living/dining areas, fabulous kitchens with elegant quartz waterfall-edge surfaces, 9’ islands with breakfast bar seating for 4, dual-tone custom cabinetry with custom brushed gold hardware, Carrera marble backsplashes with gold inlay, oversized farmhouse sinks, Samsung stainless appliance packages, designer chandeliers. French doors open to custom Juliette balconies. Luxury bathrooms with double-bowl floating vanities, roomy walk-in showers with herringboned tile, chic wallpaper. Large walk-in laundry rooms, spacious bedrooms with outstanding closet space and superb light. Sprawling community roof deck with breathtaking skyline views. Premium location less than 3 blocks to Fairmount Avenue. Architectural plans available. 100% turn-key! Incredible opportunity!
  1. Listed by Matthew Greene • Coldwell Banker Realty
    P: 2159237600 matt@mattgreene.info

Property Details for 1602 Ridge Avenue

Tax ID Number
871088100
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Contemporary, Traditional
Waterfront
No
Views
City
Garage
No
Subdivision
FAIRMOUNT

Location

Listing Courtesy of Coldwell Banker Realty
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LISTING UPDATED: 04/06/2024 10:09 AM

Property Details for 1602 Ridge Avenue

StatusActive
MLS #PAPH2318900
Days on Market84
Taxes$4,102 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2024
Lot Size0.03 AC / 1,277 SF
CountyPhiladelphia County

Location

Listing Courtesy of Coldwell Banker Realty
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Building Information for 1602 Ridge Avenue

Stories-Residences4Year Built2024Building Size-Lot Size0.03 AC / 1,277 SF

Payment Calculator

$6,885 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,543

Property Taxes

$342

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1602 Ridge Avenue

Location
Location
  • School District Name: PHILADELPHIA CITY
  • School District County ID: 802785881492
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19130 (19130)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2022
  • Tax Assessed Value: $293,100
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $234,480
  • City Town Tax: $1,851
  • Land Assessed Value: $58,620
  • Clean Green Assessed: No
  • Land Use Code: Y50
  • Historic: No
  • Zoning: CMX25
  • Tax Lot: 44
  • School Tax: $2,251
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Common Area Maintenance, Trash Collection, Water
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 3
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3
  • Units Furnished: None
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: No
  • Level: 1
  • Unit Type Finished SQFT: 1440
  • Beds Total: 0
  • Half Baths Count: 0
  • Full Baths Count: 0
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: No
  • Level: 2
  • Unit Type Finished SQFT: 720
  • Beds Total: 1
  • Half Baths Count: 0
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: No
  • Level: 3
  • Unit Type Finished SQFT: 720
  • Beds Total: 1
  • Half Baths Count: 0
  • Full Baths Count: 1
Unit 4
  • Type: Unit 4
  • Unit Type Occupied YN: No
  • Level: 4
  • Unit Type Finished SQFT: 720
  • Beds Total: 1
  • Half Baths Count: 0
  • Full Baths Count: 1
Financial Information
Expenses
  • Operating Expense: $7,602
  • Insurance Expense: $3,000
  • Trash Expense: $500
  • Maintenance Expense: $0
Financial Information
  • Net Operating Income: $103,998
  • Annual Rental Income: $111,600
  • Cap Rate: 8.75
  • Existing Lease Type: None
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 5,750.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 18.00 x 71.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 965570
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Interior Features: Breakfast Area, Combination Dining/Living, Combination Kitchen/Dining, Double/Dual Staircase, Floor Plan - Open, Kitchen - Island, Recessed Lighting, Stall Shower
  • Fireplace: No
  • Appliances: Built-In Microwave, Built-In Range, Dishwasher, Disposal, Refrigerator, Stainless Steel Appliances, Water Heater
  • Accessibility Features: None
  • Security Features: Carbon Monoxide Detector(s)
Exterior Features
Exterior Features
  • Spa: No
  • Exterior Features: Exterior Lighting
  • Outdoor Living Structures: Balcony, Deck(s), Roof
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Utilities: Electric Available
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: 90% Forced Air
  • Heating Fuel: Natural Gas
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
  • Electric Service: 200+ Amp Service
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS

Property History for 1602 Ridge Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1602 Ridge Avenue

Taxable ValueLand$58,620Additions$234,480Total$293,100
Tax Record2023$4,103 ($342 / month)
Home Facts
Total Finished SqFt2,704 SqFtAbove Grade Finished SqFt2,704 SqFtStories3Lot Size1,277 SqFtStyleOffice BuildingYear Built1920ZoningCMX2.5CountyPHILADELPHIAAPN87-1-0881-00

Schools near 1602 Ridge Avenue

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 9 to 12
Public - 5 to 12
Rating
School
Distance
Waring Laura W School
PublicPK to 8

Franklin Benjamin High School
Public9 to 12

Franklin LC
Public9 to 12

Masterman Julia R Secondary School
Public5 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1602 Ridge Avenue is a multi-family home for sale in Philadelphia, PA 19130. This property was listed for sale on February 6, 2024 by Coldwell Banker Realty, it's currently listed at $1,199,000. It has been on the market for a total of 84 days and was last sold on April 26, 2022. This listing's school district is Philadelphia City School District. Nearby schools include Waring Laura W School, Franklin Benjamin High School and Franklin LC. 1602 Ridge Avenue is a 3-bed, 3-bath, 5,750 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.