1600 RIDGE AVE, Philadelphia, PA 19130
1600 RIDGE AVE, Philadelphia, PA 19130
1600 RIDGE AVE, Philadelphia, PA 19130
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Listed by Stacy Sanseverino • KW Empower
$1,595,000
Est. payment /mo
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7,150 SqFt
New

1600 RIDGE AVE Philadelphia, PA 19130

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Key Details

Property Type Multi-Family

Sub Type Twin/Semi-Detached

Listing Status Active

Purchase Type For Sale

Square Footage 7,150 sqft

Price per Sqft $223

Subdivision Francisville

MLS Listing ID PAPH2673696

Style Contemporary

Abv Grd Liv Area 5,720

Year Built 2023

Annual Tax Amount $3,683

Tax Year 2027

Lot Size 1,422 Sqft

Acres 0.03

Property Sub-Type Twin/Semi-Detached

Source BRIGHT

Property Description

Investors, take notice! This 2023 new-construction 4-unit property offers the best of both worlds: the benefits of newer construction, time-tested over the past three years, plus approximately six years remaining on the full 10-year tax abatement. The property includes a commercial first-floor and basement space leased to a convenience store for $3,100/month NNN plus a $100/month flat water fee through October 2030, along with three spacious 2-bedroom, 2-bath residential apartments currently rented for $2,250, $2,250, and $2,350 per month. Designed with privacy and flexibility in mind, each residential unit features bedrooms positioned on opposite sides of the apartment, making the layout ideal for platonic roommates, couples, families with children or frequent guests, or those who work from home. The primary bedroom, with an ensuite bath, is located on the Ridge Avenue side, while the second bedroom and hall bath are on the 16th Street side. Each apartment features a spacious kitchen and living area, soft neutral finishes, central air, and its own laundry room. Residential tenants pay their own gas, electric, and water, while the owner pays water for the common areas, including the roof (with $100/month contributed by the commercial tenant), as well as common-area lighting, heating, maintenance, and maintenance within the residential units. The commercial tenant is responsible for its own repairs and pays a portion of the building's taxes and insurance. Two separate stairwells—one from Ridge Avenue and one from 16th Street—serve all the units and provide access to the shared roof deck, offering a unique outdoor amenity with space to relax, entertain, enjoy the sunset, or start the day with fresh air. The seller also provided furniture for the residential units, adding convenience for tenants. With easy access to local transportation, neighborhood shops, Fairmount Avenue, and Center City, this property combines modern construction, diversified income, desirable residential layouts, and a valuable tax abatement in one compelling investment.

Location

State PA

County Philadelphia

Area 19130 (19130)

Zoning CMX25

Rooms

Basement Full, Fully Finished

Interior

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Flooring Luxury Vinyl Plank, Ceramic Tile

Inclusions 3 refrigerators, 3 washers, 3 dryers

Equipment Microwave, Oven/Range - Gas, Refrigerator, Washer, Dryer, Dishwasher

Fireplace N

Appliance Microwave, Oven/Range - Gas, Refrigerator, Washer, Dryer, Dishwasher

Heat Source Natural Gas

Laundry Dryer In Unit, Has Laundry, Washer In Unit

Exterior

Water Access N

Accessibility None

Garage N

Private Pool No

Building

Lot Description Irregular, Corner

Foundation Concrete Perimeter

Above Ground Finished SqFt 5720

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Additional Building Above Grade, Below Grade

New Construction N

Schools

Elementary Schools Laura W. Waring

Middle Schools Laura W. Waring

High Schools Benjamin Franklin

School District The School District Of Philadelphia

Others

Tax ID 871000093

Ownership Fee Simple

SqFt Source 7150

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Bright MLS (BMLS)

Nearby Locations

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1600 RIDGE AVE