Attention investors, 1824 Ridge avenue is a fully occupied, mixed-use investment property located along the highly trafficked Ridge avenue corridor in Philadelphia. This 6 years old asset consists of 4 total units, including 3 residential apartments all units are: 2 bedrooms and 2 full bath, hardwood floor throughout, Central HVAC, in unit washer/dryer. The top unit has private roof access for extra outdoor space while backyard can be use as community space to be share with unit 1 and unit 2. The ground-floor commercial space with finished basement, offering diversified income in a strong urban location. The building totals approximately 5,100 SF and is zone CMX 2.5, allowing for flexible commercial and mixed-use opportunities. With 100% occupancy, the property provides immediate cash flow and long-term upside through rental growth and value-add potential. Positioned in a rapidly developing area with excellent visibility, public transportation access, and proximity to Temple University, Center City and surrounding neighborhoods, this asset is well-suited for investors seeking stable income in a core Philadelphia market.
Multi-familyProperty Type
2019Year Built
1,844 sq ftLot Size
$186Price/Sq.Ft.
Listed by Andrew Cheng• Keller Williams Realty - Cherry Hill
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
Offer insights
1824 Ridge Ave · $948,000
$939K and above
75% chance or better to win
Why $939K+ is a strong offer
DAYS ON MARKET
159 days
The average home goes pending in 146 days.
SALE-TO-LIST
93.1%
Most homes are selling 7% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Fully finished, heated basement
32+ inch wide doors
Casement, energy-efficient windows
Estimated living area
Bedrooms
Three two-bedroom units (multifamily building)
Bathrooms
Details not provided
Kitchen
Dishwasher
Disposal
Microwave
Electric oven/range
Refrigerator
Laundry & utility
Electric dryer
Washer
Electric hot water
Flooring
Details not provided
Heating & cooling
90% forced air heating (electric fuel)
Central air conditioning (electric)
Exterior features
Roofed outdoor living area with decks
Lot dimensions approximately 19 x 99
Home design
Interior townhouse / rowhouse style
Fee simple ownership
Excellent condition
Estimated year built
Parking
On-street parking
Security
Details not provided
Construction
Combination of block, concrete and other materials
Block foundation
Utilities
Public water
Public sewer
HOA & community
Details not provided
Financial info
Gross income reported: $77,280
Net operating income: $67,763
Operating expenses include insurance
Existing lease type: Gross
No rent control
Other
Building contains 4 total units, all currently leased
Income includes apartment rentals and professional offices
Electricity and solar
View estimated energy costs and solar savings for this home
1824 Ridge Ave is a newly constructed apartment. 3 (2 bedroom/2 bath) units with a commercial unit space on the ground level. located along the booming Ridge Avenue Commercial Corridor in francisville! This offering presents a very desirable unit mix with nicely appointed features and spacious units. The listing is offered at a 7% cap rate with full ten year tax abatement pending.
BRIGHT MLS #PAPH809108
Jul 8, 2019
Listed
$950,000
$186/sq ft
Jul 8, 2019
Listing Removed
—
BRIGHT MLS #1002254732
May 9, 2019
Listing Removed
—
Aug 16, 2018
Listed
$1,200,000
$235/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$4,506
$321,900
2025
$4,506 (+2,454.8%)
$321,900
2024
$176
$12,600
2023
$176
$12,600
2022
$176
$12,600
2021
$176
$12,600
2020
$176
$12,600
2019
$176 (+4.5%)
$12,600
2015
$169 (+0.5%)
$12,600
2014
$168
$12,600
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
—
Lot width
19 ft.
Lot depth
99 ft.
Lot size
1,844 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Vacant Land
County
Philadelphia County
APN
471270710
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 28, 2026.
CMX-2.5
/VDO
/NIS
Neighborhood Commercial Mixed-Use-2.5 District
The CMX-2.5, Neighborhood Commercial Mixed-Use district is primarily intended to accommodate active commercial and mixed-use development, including pedestrian-friendly retail and service uses in commercial nodes and along commercial corridors. The range of allowed uses is slightly narrower than the CMX-2 district and the development standards are intended to promote a pedestrian-oriented environment.
Zone overlays
Fifth District Overlay District
Narcotics Injection Sites Overlay District
Permitted uses
Include but are not limited to:
Bank
Day care facility
General retail
Hospital / medical center
Housing-Single unit
Housing-Multiple units
Housing-Senior
Office
Research & development
Library
Oct 18, 2020 • Active
Mechanical
Install new heating and air conditioning systems, including associated ductwork, a condensing unit, an air handling unit, and registers at a first-floor commercial space. Separate permits are required for electrical, plumbing, and fire suppression work.
New construction
Jun 6, 2019 • Final
Bp_newcnst
Construct a new commercial mixed-use building with three residential units. The project consists of a three-story wood-framed structure including a private roof deck.
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.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 104° expected this year, 15 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
4/10 Air Factor
4 unhealthy days expected this year, 5 days in 30 years
Provided by First Street
Historical weather
Philadelphia, PA • 19130
Average low and high temperatures (°F)
37
24
41
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
Sep
Oct
Nov
Dec
Sun exposure
67/ 100
Moderate sunlight
Sunscore
This home receives average direct sun exposure in Philadelphia. There appears to be some shading by surrounding buildings, terrain, and vegetation.
7.6 hrs
4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1824 Ridge Ave
$905,272
$43K under list price of $948K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $230K to $815K.