1601 Ridge Avenue
$2,100,000
—
8,380
8,380
$251
New Construction
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.
- Listed by Ryan J McManus • Keller Williams Liberty PlaceP: (610)-606-1095 ryan@agentphl.com
- Listed by Brandon Ribeiro • Keller Williams Liberty PlaceP: (267)-945-8167 brandon@agentphl.com
Property Details for 1601 Ridge Avenue
Tax ID Number
871403535
OwnershipFee Simple
Structure TypeOther
StyleUnit/Flat
WaterfrontNo
ViewsCity
GarageNo
SubdivisionFRANCISVILLE
LISTING UPDATED: 10/29/2024 10:12 AM
Property Details for 1601 Ridge Avenue
Status | Active |
---|---|
MLS # | PAPH2414728 |
Days on Market | 54 |
Taxes | $3,603 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 2019 |
Lot Size | 0.05 AC / 2,268 SF |
County | Philadelphia County |
Building Information for 1601 Ridge Avenue
Stories-Residences4Year Built2019Building Size-Lot Size0.05 AC / 2,268 SF
Property Information for 1601 Ridge Avenue
Property History for 1601 Ridge Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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