$9,600,000

1533-5 Ridge Ave, Philadelphia, PA, 19130

25,600

Square feet

0.15

Acres

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.

Facts & Features

MLS® # PAPH2175338
Price $9,600,000
Bathrooms 0.00
Square Footage 25,600
Acres 0.15
Year Built 2022
Type Multi-Family
Sub-Type Other, Detached
Style Contemporary
Status Active

Community Information

Address 1533-5 Ridge Ave
Area 19130
City Philadelphia
County PHILADELPHIA-PA
State PA
Municipality PHILADELPHIA
Zip Code 19130

Amenities

Is Waterfront No

Interior

Heating Wall Unit, Central
Cooling Wall Unit, Central A/C
Has Basement No
Fireplace No

Exterior

Exterior Brick and Siding
Foundation Slab

School Information

District THE SCHOOL DISTRICT OF PHILADELPHIA

Additional Information

Date Listed November 1st, 2022
Days on Market 99
Zoning CMX2.5-NEIGHBORHOOD COMME
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeCompass Pennsylvania, LLC

Listing Map

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