1601 Ridge Avenue

Philadelphia, PA 19130

$2,100,000
Price
Beds
8,380 Sq. Ft.
$251 / Sq. Ft.
8,380
Sq. Ft.
$251
per Sq. Ft.

Description

INTRODUCING: Welcome to 1601-5 Ridge — a boutique multifamily property sited at the prominent Ridge & Parrish corner intersection (at 16th Street) in the booming Francisville submarket of Philadelphia, Pennsylvania. Spanning 3 property widths with soft corner exposure, 1601-5 Ridge commands a strong presence on the Francisville streetscape with a brick-clad base and bay windows above. Throughout its operating history, there has been little-to-no vacancy in the building — a testament to the quality...INTRODUCING: Welcome to 1601-5 Ridge — a boutique multifamily property sited at the prominent Ridge & Parrish corner intersection (at 16th Street) in the booming Francisville submarket of Philadelphia, Pennsylvania. Spanning 3 property widths with soft corner exposure, 1601-5 Ridge commands a strong presence on the Francisville streetscape with a brick-clad base and bay windows above. Throughout its operating history, there has been little-to-no vacancy in the building — a testament to the quality of construction, location and spatial quality of the asset. On the ground floor, a neighborhood daycare operates the commercial space, having just exercised their 5-year NNN lease renewal option. Upstairs, there are five (5) oversized apartments, each with unique layouts: one (1) studio, three (3) 2bd x 2ba units and one (1) 3bd x 2ba unit. New Ownership can add a 5th floor “as of right” based on the current zoning in place and increase the density/unit count. Private roofdecks feature prominently in 1601-5 Ridge with Center City skyline views from atop the 4th floor. Located in the Francisville submarket just outside of Downtown Philly, residents of this ±8,380 SF apartment building benefit from proximity to shops, breweries, cafes, grocers, restaurants and multimodal transport options — placing the entire city within reach of 1601-5 Ridge. Philadelphia now ranks as the eight (8th) largest MSA in the USA. Real estate investment demand is largely driven by Philly’s relative affordability as compared to its pricier neighbors to the north (New York, Boston) and south (Washington, D. C., Maryland, Virginia), with comparable lifestyle standards — connectivity, culture, cuisine and convenience in Greater Philadelphia rival the nation’s leading metros. Investment sales in the Francisville submarket have been surging in 2024 (whilst some others lag), largely due to its desirability for young professionals seeking contemporary accommodations in new construction apartments just outside of the downtown urban core. Buyer to verify taxes, sf, and financials in dd. Tenant occupied. 48hr notice required to tour. Offering includes 1601-3 ridge and 1605 ridge.
  1. Listed by Ryan J McManus • Keller Williams Liberty Place
    P: (610)-606-1095 ryan@agentphl.com
  2. Listed by Brandon Ribeiro • Keller Williams Liberty Place
    P: (267)-945-8167 brandon@agentphl.com

Property Details for 1601 Ridge Avenue

Tax ID Number
871403535
Ownership
Fee Simple
Structure Type
Other
Style
Unit/Flat
Waterfront
No
Views
City
Garage
No
Subdivision
FRANCISVILLE
LISTING UPDATED: 10/29/2024 10:12 AM

Property Details for 1601 Ridge Avenue

StatusActive
MLS #PAPH2414728
Days on Market54
Taxes$3,603 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2019
Lot Size0.05 AC / 2,268 SF
CountyPhiladelphia County

Building Information for 1601 Ridge Avenue

Stories-Residences4Year Built2019Building Size-Lot Size0.05 AC / 2,268 SF

Property Information for 1601 Ridge Avenue

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • 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: 2024
  • Tax Assessed Value: $257,400
  • Year Assessed: 2024
  • City Town Tax: $1,585
  • Land Assessed Value: $257,400
  • Clean Green Assessed: No
  • Land Use Code: SC
  • Historic: No
  • Zoning: CMX25
  • School Tax: $2,017
  • Automatically Update Tax Values Y/N: No
Unit Information
Unit Information
  • Single Room Units Count: 1
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 3
  • Three Bedroom Units Count: 1
Building Info
Building Info
  • Building Level Count: 4
  • Building Units Total: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Lot Size Dimensions: 49.00 X 48.00
  • Lot Dimensions Source: Estimated
  • Lot Features: Additional Lot(s)
  • Location Type: Urban
  • Parcel ID: 965611
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Central
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS

Property History for 1601 Ridge Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1601 Ridge Avenue

This home is within The School District of Philadelphia.
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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1601 Ridge Avenue is a multi-family home for sale in Philadelphia, PA 19130. This property was listed for sale on October 29, 2024 by Keller Williams Liberty Place, it's currently listed at $2,100,000. This listing's school district is The School District of Philadelphia. Nearby schools include Waring Laura W School, Franklin Benjamin High School and Franklin LC. 1601 Ridge Avenue is a 0-bed, 0-bath, 8,380 sqft multi-family home built in 2019.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Liberty Place

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.