1533-5 Ridge Ave, Philadelphia, Pennsylvania 19130
Listing IDPAPH2175338
Price$9,600,000
StatusACTIVE
SqFt
25,600
Acres
0.150
CountyPhiladelphia
Year Built2022
Property TypeMulti Family
Property Sub TypeDetached
Now available, for sale: "The Maven" in Philadelphia, Pennsylvania. This boutique, 29-unit new construction apartment building represents one of the most attractive turnkey multifamily acquisition opportunities in the marketplace, located within steps of the Septa Broad Street subway. The Property is over 90% leased (actively in lease-up) with a full 10 year tax abatement and minimal operating expenditures. The Maven contains 25,600+ SF and is exceptionally located on a vibrant commercial corridor (Ridge Avenue) in a rapidly maturing urban core submarket (Francisville), which is poised for continuous rent growth and asset appreciation. $507k+ pro forma NOI. One (1) commercial space; Four (4) studios; Nineteen (19) 1-bedrooms; Five (5) 2-bedrooms. Incredible redbrick curb appeal and carefully designed, luxurious interiors. Elevator and common rooftop terrace with sweeping skyline vistas. Masterfully constructed by TCG. 10 year tax abatement.
$5,750,000 assumable loan at 5.40% for qualified borrowers.
County
Philadelphia
Price/SqFt
375
Property Sub Type
Detached
Property Type
Multi Family
Year Built
2022
Zoning
CMX2.5-NEIGHBORHOOD COMME
Central Air
yes
Cooling Type
Wall Unit, Central A/C
Heating
yes
Heating Type
Wall Unit, Central
Living Area SqFt Source
Estimated
Total SqFt
25600
Total SqFt Source
Estimated
Building Units Total
4
Construction Completed
no
Construction Materials
Brick
Cooling Fuel
Electric
Foundation Details
Slab
Garage
no
Heating Fuel
Electric
Hot Water
Electric
Lot Size Source
Estimated
Lot Size Units
Square Feet
New Construction
yes
Other Structures
Above Grade
Pool
No Pool
Sewer Septic
Public Sewer
Tidal Water
no
Type of Parking
On Street
Water Access
no
Water Oriented
no
Water Source
Public
Water View
no
Country
US
MLS Area
19130 (19130)
Municipality
PHILADELPHIA
School District Name
THE SCHOOL DISTRICT OF PHILADELPHIA
School District Source
Listing Agent
Waterfront
no
Accessibility Features
None
Days on Market
143
Property Condition
Excellent
Property Sub Type
Other
Year Built Source
Estimated
Automatically Update Tax Values
no
Ownership Interest
Fee Simple
Possession
Settlement
Riparian Rights
no
Sale Type
Standard
Tax Year
2022
Vacation Rental
no
Listing courtesy of Compass Pennsylvania, LLC (267) 380-5813
© 2023 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is 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. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Compass Pennsylvania, LLC. Data last updated on Thursday, March 23rd, 2023 04:06:13 PM.
Contact - Listing ID PAPH2175338
Brett Furman
528 East Lancaster Avenue
St. Davids, PA 19087
Phone: 610-687-6060
Phone Alt: 610-687-6060
Data services provided by IDX Broker
