1605 RIDGE AVE Coming Soon Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19130
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 7,380 sqft
Price per Sqft $284
Subdivision Francisville
MLS Listing ID PAPH2509736
Year Built 2018
Available Date 2025-07-10
Annual Tax Amount $1,514
Tax Year 2024
Lot Size 760 Sqft
Acres 0.02
Lot Dimensions 16.00 x 48.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Welcome to 1605 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 (1601-03-05) with soft corner exposure, The Property 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 ±7,380 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. Invest in a Top-10 USA MSA with the acquisition of 1605 Ridge. 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, largely due to its desirability for young professionals seeking contemporary accommodations in new construction apartments just outside of the downtown urban core.
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning CMX25
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Flooring Luxury Vinyl Plank
Heat Source Electric
Exterior
Water Access N
View City
Roof Type Fiberglass
Accessibility None
Garage N
Building
Lot Description Additional Lot(s),Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 871403540
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard