PRIME INVESTMENT OPPORTUNITY! We are proud to present 1540 Ridge Avenue: * 8 one bedroom apartments with two of these units being penthouse units with private roof deck access * 2 Ground Floor Commercial Spaces * 100% stabilized property * Tax abated building (4+ years left on the tax abatement) * Stainless Steel Appliances, Washer and Dryer in every unit, quartz countertops * Elevator building * Located in the heart of booming Francisville * A short walk to SEPTA Girard/Broad St Station, The Met Philadelphia, along with coffee shops, restaurants, gyms and many other retailers. * The Francisville neighborhood is popular among renters due to its proximity to Center City and Temple University. Please reach out for additional information and financials.
Multi-familyProperty Type
2019Year Built
2,017 sq ftLot Size
$248Price/Sq.Ft.
Listed by Bob Kiziroglou• Howard Hanna Real Estate Services
•215-643-2500 (broker)
•janetrubino@howardhanna.com (broker)
Listed by Abby Trimborn• Howard Hanna Real Estate Services
Francisville, located between Fairmount Avenue and Girard Avenue, is a residential and artsy Philadelphia neighborhood with a rowhouse streetscape and a pocket-park feel. The neighborhood’s character concentrates around Ridge Avenue near Fairmount Avenue, where corner cafes, small studios, and low-key bars set a steady, conversational pace. Community pillars include the Divine Lorraine Hotel’s landmark silhouette, the Metropolitan Opera House’s grand facade, and the Francisville Playground as a daily gathering green. Brick twins and newer infill sit side by side on tight blocks, with stoops and tree pits shaping the street scene. Broad Street’s transit spine frames the east edge, while Ridge Avenue angles through with a slightly off-grid energy.
Provided by Walk Score and Local Logic
Market insights
1540-42 Ridge Ave · $2,600,000
DAYS ON MARKET
201 days
The average home goes pending in 146 days.
SALE-TO-LIST
93.1%
Most homes are selling 7% below list price.
LIST PRICE
$2,600,000
Median list price in this area is $369,140. (86% lower than this home)
PRICE DROP
0 price drops
60% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Open floor plan
Combination kitchen and living area
Kitchen island
Recessed lighting
Sprinkler system
Window treatments
Bedrooms
Eight one-bedroom units
Kitchen
Built-in microwave
Dishwasher
Disposal
Oven (single)
Refrigerator
Stainless steel appliances
Water heater
Laundry & utility
Washer
Dryer
Energy-efficient appliances
Heating & cooling
Central heating (electric)
Central air conditioning (electric)
Exterior features
No tidal water
Home design
Masonry construction
Five total levels
Fee simple ownership
Elevator
Parking
On-street parking
Construction
Construction completed
Above-grade structures
Utilities
Public water
On-site septic
Electric hot water
Electricity and solar
View estimated energy costs and solar savings for this home
Install a new heating and air conditioning system throughout a mixed-use structure according to approved plans.
HVAC
Oct 1, 2019 • Final
Bp_newcnst
Construct a five-story mixed-use building with a roof deck and access structure. The building will include an eight-family dwelling and vacant commercial spaces. The entire building will be equipped with a sprinkler system and standpipes in the exit stairways.
New construction
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Historical weather
Philadelphia, PA • 19130
Average low and high temperatures (°F)
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24
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28
59
40
68
48
74
57
84
67
88
72
83
66
80
64
70
51
57
42
43
30
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
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Sun exposure
82/ 100
Very good sunlight
Sunscore
This home ranks in the top 12% for direct sun exposure in Philadelphia. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
7.5 hrs
3.4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1540-42 Ridge Ave
$2,419,595
$180K under list price of $2.60M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $735K to $1.3M.