Views - New Construction
Address
1602 Ridge Avenue, Philadelphia, PA
Price
$ 1,199,000
Property Attributes
- MLS#PAPH2318900
- TypeMulti-Family
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19130
- NeighborhoodFairmount
- Zip19130
- StyleContemporary,Traditional
- Year Built2024
- Taxes$ 4102
- Price$ 1,199,000
- Bedrooms3
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1,307 SqFt
Data Source:
Bright MLS
Property Description
Extraordinary investment opportunity in booming Fairmount! Ground-up new construction, over $103,000 in projected net annual income, solid 8.75% cap rate. Estimated June 2024 completion. Stunning curb appeal with custom corrugated stone, white brick, Parisian wrought-iron Juliette balconies. Ground-floor bi-level commercial space features 12 main-level ceilings and 8 below-grade. Luxury 1-bedroom apartments offer 730 square feet of brilliantly designed living space with exceptional storage and magnificent natural light. Wide-plank white-oak flooring, expansive living/dining areas, fabulous kitchens with elegant quartz waterfall-edge surfaces, 9 islands with breakfast bar seating for 4, dual-tone custom cabinetry with custom brushed gold hardware, Carrera marble backsplashes with gold inlay, oversized farmhouse sinks, Samsung stainless appliance packages, designer chandeliers. French doors open to custom Juliette balconies. Luxury bathrooms with double-bowl floating vanities, roomy walk-in showers with herringboned tile, chic wallpaper. Large walk-in laundry rooms, spacious bedrooms with outstanding closet space and superb light. Sprawling community roof deck with breathtaking skyline views. Premium location less than 3 blocks to Fairmount Avenue. Architectural plans available. 100% turn-key! Incredible opportunity!
| Price History | |
|---|---|
| 2/7/2024 | Listed $1,199,000 |
General Features
| Interior Features | Breakfast Area,Combination Dining/Living,Combination Kitchen/Dining,Double/Dual Staircase,Floor Plan - Open,Kitchen - Island,Recessed Lighting,Stall Shower |
|---|---|
| Sewer | Public Sewer |
| Heating | 90% Forced Air |
| Cooling | Central A/C |
| Utilities | Electric Available |
| Possession | 120-180 Days,181-365 Days |
| Roof | Fiberglass |
| Appliances | Built-In Microwave,Built-In Range,Dishwasher,Disposal,Refrigerator,Stainless Steel Appliances,Water Heater |
| Exterior Features | Exterior Lighting |
| Zoning | CMX25 |
| Pool Y/N | No Pool |
| Patio/Porch Features | Balcony,Deck(s),Roof |
| Architectural Style | Contemporary,Traditional |
| Security Features | Carbon Monoxide Detector(s) |
| Construction Materials | Stick Built,Stone,Brick Front |
| Year Built | 2024 |
| Electric | 200+ Amp Service |
| View | City |
| Property SubType | Quadruplex |
| Tax Year | 2022 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| OwnerPays | Common Area Maintenance,Trash Collection,Water |
| Accessibility | None |
| County | PHILADELPHIA |
| Net Operating Income | 103998.00 |
| Operating Expense | 7602.00 |
| Insurance Expense | 3000.00 |
| New Construction | Yes |
| Property Type | Multi-Family |
| MaintenanceExpense | 0.00 |
| Subdivision Name | FAIRMOUNT |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | Intersection of N 16th Street and Ridge Avenue |
| ModificationTimestamp | 2024-04-06T10:09:14 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| Total Units | 4 |
| MLS Area | 19130 (19130) |
| Lot Size Square Feet | 1277.00 |
| Tax Assessed Value | 293100.0 |
| Waterfront Y/N | No |
| Street Name | RIDGE |
| Tax Annual Amount | 4102.0 |
| Home Warranty Y/N | No |
| Property Condition | Excellent |
| Trash Expense | 500.00 |
| Structure Type | Interior Row/Townhouse |
| One Bedroom Units Count | 3 |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 3 |
| Price Per Sq Ft | 260.65 |
| Acceptable Financing | Cash,Conventional |
| Construction Completed Y/N | No |
| Historic Y/N | No |
| Vacation Rental Y/N | No |
| Total SQFT | 5750 |
| Days on Market | 85 |
| Lease Type | None |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 44 |
| Total Actual Rent | 111600.00 |
| Cap Rate | 8.75 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Basement | Fully Finished |
| Flooring | Hardwood,Heavy Duty |
| Hot Water | Electric |
| Furnished Units | None |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | AVENUE |
| Central Air Y/N | Yes |
| LivingAreaSource | Estimated |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | On Street |
| Land Use Code | Y50 |
| Foundation Details | Concrete Perimeter |
| Spa | No |
| Water View Y/N | No |
| Lot Dimensions | 18.00 x 71.00 |
| Lot Size Acres | 0.03 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 58620.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 19130
Price
Taxes
Visits
Year Built
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