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1602 Ridge Avenue

PHILADELPHIA, PA 19130
  • $1,199,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: PAPH2319406
UPDATED: 62 min ago
$1,199,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2024
County:

School Ratings & Info

School District:

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+GG main-level ceilings and 8+GG 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+GG 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!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T12:52:08.797.
www.locomusings.com/homes/147318873
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1602 Ridge Avenue PHILADELPHIA, PA 19130

  • Price: $1,199,000
  • Status: Active
  • On Site: 18 Days
  • Updated: 62 min ago
  • ID#: PAPH2319406
0
Beds
0
Baths
0
½ Baths
0.03
Acres
2024
Built
Neighborhood:
Fairmount
County:
Philadelphia
Area:
19130 (19130)
School District:
Philadelphia City
Property 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+GG main-level ceilings and 8+GG 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+GG 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!
Exterior Features

Construction Materials Stick BuiltBrick FrontStone Garage YN No Parking Types On Street Property Condition Excellent Riparian Rights YN No Roof Fiberglass View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 0.00 Cooling Central A/C Flooring Heavy DutyHardwood Heating 90% Forced Air Heating YN Yes Net Square Feet 4600.00 Security Features Carbon Monoxide Detector(s)

Property Features

Acceptable Financing CashConventional Accessibility Features None Assessment Year 2023 Business Type Apartment BuildingProfessional Central Air YN Yes Construction Completed YN No Cooling Fuel Electric Electric 200+ Amp Service Foundation Details Concrete Perimeter Heating Fuel Natural Gas Historic YN No Hot Water Electric Insurance Expense 3000.00 Maintenance Expense 0.00 Municipality PHILADELPHIA Navigable Water YN N Net Operating Income 103998.00 New Construction YN Yes Number Of Units Total 4 Operating Expense 7602.00 Original MLSNumber 802851407210 Owner Pays Common Area MaintenanceTrash CollectionWater Ownership Interest Fee Simple Possession 120-180 Days181-365 Days Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4102.00 Tax Assessment Amount 293100.00 Tax Lot 44 Total Actual Rent 111600.00 Trash Expense 500.00 Utilities Electric Available Vacation Rental YN No Water Source Public Zoning CMX25

Listing courtesy of Coldwell Banker Realty: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T12:52:08.797.
 
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