2150 Ridge Avenue

Philadelphia, PA 19121

$240,000
Price
Beds
3
Baths
1,545 Sq. Ft.
$155 / Sq. Ft.
1,545
Sq. Ft.
$155
per Sq. Ft.

Description

INVESTOR SPECIAL: Welcome to 2150 Ridge Ave, a 3-unit multi-family property in the desirable Sharswood neighborhood! Currently, two of the three units are rented (#1- $700 and #2- $750), generating a potential cash flow of $2,250 per month with a strong 9% cap rate. The vacant unit could be rented as-is for $800/month, however, this property offers an excellent investment opportunity, with the potential to increase rents up to $1,000 per unit with basic cosmetic updates. Additionally, Section 8/PHA...INVESTOR SPECIAL: Welcome to 2150 Ridge Ave, a 3-unit multi-family property in the desirable Sharswood neighborhood! Currently, two of the three units are rented (#1- $700 and #2- $750), generating a potential cash flow of $2,250 per month with a strong 9% cap rate. The vacant unit could be rented as-is for $800/month, however, this property offers an excellent investment opportunity, with the potential to increase rents up to $1,000 per unit with basic cosmetic updates. Additionally, Section 8/PHA approval could nearly double rents to around $1,300 per unit. Conveniently located near public transportation, Brewerytown, grocery stores, laundromats, the Stephen Klein Wellness Center, and more, this property is a prime candidate for maximizing your investment in a rapidly developing area. Don’t miss out!
  1. Listed by Alexander Frederick • KW Empower
    P: (941)-889-8266 alex@mccannteam.com

Property Details for 2150 Ridge Avenue

Tax ID Number
291274305
Ownership
Fee Simple
Structure Type
Other
Style
Trinity
Waterfront
No
Garage
No
Subdivision
SHARSWOOD
Subdivision
SHARSWOOD (PHILADELPHIA PA)
LISTING UPDATED: 10/14/2024 07:52 PM

Property Details for 2150 Ridge Avenue

StatusActive
MLS #PAPH2390748
Days on Market58
Taxes$1,577 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1915
Lot Size0.02 AC / 690 SF
CountyPhiladelphia County

Building Information for 2150 Ridge Avenue

Stories-Residences3Year Built1915Building Size-Lot Size0.02 AC / 690 SF

Property Information for 2150 Ridge Avenue

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19121 (19121)
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: $112,700
  • Year Assessed: 2024
  • County Tax: $0
  • Improvement Assessed Value: $90,200
  • City Town Tax: $694
  • Land Assessed Value: $22,500
  • Clean Green Assessed: No
  • Land Use Code: O51
  • Zoning: CMX2
  • Tax Lot: 303
  • School Tax: $883
  • Automatically Update Tax Values Y/N: Yes
Unit Information
Unit Information
  • Single Room Units Count: 3
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
  • Units Furnished: None
  • Units Leased Count: 2
  • Number Of Units Vacant: 1
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Beds Total: 0
  • Full Baths Count: 1
Unit 2
  • Type: Unit 2
  • Beds Total: 0
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Beds Total: 0
  • Full Baths Count: 1
Financial Information
Financial Information
  • Annual Rental Income: $27,000
  • Cap Rate: 9.00
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 1,545.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 27.00 x 48.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 1056729
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: 2+ Access Exits
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Baseboard - Electric
  • Heating Fuel: Electric
  • 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 2150 Ridge Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2150 Ridge Avenue

Taxable ValueLand$22,500Additions$90,200Total$112,700
Tax Record2023$1,578 ($131 / month)
Home Facts
Beds0Total Finished SqFt1,545 SqFtAbove Grade Finished SqFt1,545 SqFtStories3Lot Size690 SqFtStyleCondominiumYear Built1915ZoningCMX2CountyPHILADELPHIAAPN29-1-2743-05

Schools near 2150 Ridge Avenue

This home is within The School District of Philadelphia.
Rating
School
Type
Grades
Distance
Charter - K to 8
Public - 9 to 12
Public - 7 to 12
Public - 9 to 12
Rating
School
Distance
Strawberry Mansion High School
Public9 to 12

Carver High School
Public7 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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2150 Ridge Avenue is a multi-family home for sale in Philadelphia, PA 19121. This property was listed for sale on August 28, 2024 by KW Empower, it's currently listed at $240,000. This listing's school district is The School District of Philadelphia. Nearby schools include Young Scholars Frederick Douglass Charter School, Strawberry Mansion High School and Carver High School. 2150 Ridge Avenue is a 0-bed, 3-bath, 1,545 sqft multi-family home built in 1915.

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 KW Empower

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.