1602 RIDGE AVE Active Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19130
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 2,704 sqft
Price per Sqft $425
MLS Listing ID PAPH2534912
Style Contemporary
Abv Grd Liv Area 2,704
Year Built 1920
Annual Tax Amount $4,832
Tax Year 2025
Lot Size 1,277 Sqft
Acres 0.03
Lot Dimensions 18.00 x 71.00
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
Turn-Key Investment in the Heart of Fairmount
An incredible opportunity to own a fully leased new construction property in one of Philadelphia's fastest-growing neighborhoods. Offering more than $103,000 in projected net annual income and a strong 8.75% cap rate, this is a true plug-and-play investment.
The building's modern exterior sets the tone with its distinctive stonework, crisp white brick, and elegant wrought-iron balconies. The street-level commercial suite spans two floors, with dramatic 12-foot ceilings on the main level and an additional lower level with 8-foot ceilings — ideal for long-term tenant use.
Above the commercial space are well-appointed one-bedroom apartments, each thoughtfully laid out with approx. 730 sq. ft. of stylish living space. Features include:
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Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning CMX25
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Additional Building Above Grade,Below Grade
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 871088100
Ownership Fee Simple
SqFt Source 2704
Special Listing Condition Standard