ACTIVE
2626-30 Ridge Ave
Philadelphia PA, 19121
$1,600,000
$221.76 per sqft
ACTIVE
7 Beds
7,215 sqft
Residential
Built in 1915
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 bestplaces.net, 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 $3.65mm
Also available is 1937 N Marshall st. A 9 Unit shovel ready ground up construction project for $525,000
PAPH2260232
MLSⓇ ID
May 9, 2024
Updated
Map
2626-30 Ridge Ave
Philadelphia PA, 19121
Interior Features
Bedrooms
7
Appliances
Electric Water Heater
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central, Electric
Exterior/Building Features
Lot Size
0.08 Acres
Architectual Style
Federal
Sewer
Public Sewer
School Information
School District
THE SCHOOL DISTRICT OF PHILADELPHIA
Other Property Details
Area Name
PHILADELPHIA
Taxes
$5,189
Tax Frequency
Annually
Days on Market
258
Garage
Yes
Garage Spaces
1
Parking
On Street, Detached
Parking Total
1
View
No
County
PHILADELPHIA
Water Source
Public
Pool
No
Buyer Agency Compensation
2%
Listed by Brian Ashby, with EMORY HILL REAL ESTATE SERVICES INC.
Listing Contact: 3027632349
The IDX display contains information sourced from the Bright MLS, Inc. as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 5/9/2024 at 4:46 AM UTC