1 year on rocket

2530 Ridge Ave, Philadelphia, PA, 19121

$533,000

Home List Price

$6,329*

Closing Credit

0 Baths
1,850 SqFt
$288/SqFt
Multi

Location

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2530 Ridge Ave, Philadelphia$533,000

Buyer Closing Credits

$6,329*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
ParkingOn Street
Year Built1915
HeatingCentral
CoolingCentral Air
MLS #PAPH2285656
Lot Size0.04 Acres
StatusActive
(ACTIVE)

About 2530 Ridge Ave

Property Addresses included in portfolio : 2725 Glenwood Ave MLS# PAPH2285644 | 2530 Ridge Ave MLS# PAPH2285656 | 1913 N 23rd MLS# PAPH2285666 | 1941 N 23rd MLS# PAPH2285670 | 1210 W Dauphin MLS# PAPH2285626 | 1212 W Dauphin MLS# PAPH2285638 Total Asking Price For Portfolio: $3,200,000 Scan for photos on the Virtual Offering Memorandum. Here is a remarkable investment opportunity in the heart of Philadelphia – a portfolio of six triplex multi-family buildings, offering a total of 18 units, 19 bathrooms, and 31 bedrooms. This is an exceptional chance for discerning investors seeking a strong return. All leases except for Glenwood units are through PHA making rent payments guaranteed. 2024 rents are poised to increase $1764 for 2 beds and $1476 for 1 beds. Advertised rents are for 2024 proforma, and current cap rate is 8%+ **Key Features:** - Turnkey Recently Renovated Portfolio: These properties have been meticulously renovated, ensuring they are in superb condition and ready for occupancy or rental. - Rent Program Tenants: Enjoy the reliability of guaranteed rent from the city, providing a stable income stream. - Under Market Rents: There exists an opportunity to maximize your returns by adjusting rental rates to align with the current market conditions. - Proximity to Philadelphia Schools: These properties are conveniently located near Philadelphia schools, making them appealing to potential tenants with families. **Location:** Strategically positioned in Philadelphia, a city renowned for its vibrant culture and robust real estate market. With easy access to schools and essential amenities, this location is poised for growth and offers excellent rental potential. This outstanding investment opportunity is exclusively represented by MY Philly Cassell, your trusted partner in Philadelphia real estate. If you are considering expanding your investment portfolio or entering the dynamic Philadelphia real estate market, this is an opportunity you should explore. Seize this remarkable chance to acquire this portfolio of multi-family buildings. Contact us today to obtain more details and take the first step toward securing a prosperous investment in the City of Brotherly Love.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1915
  • Living Area: 1,850 SqFt

Listing Office:

  • Office Name: KW Empower
  • Office Phone: (215) 627-3500
  • Listing Agent: Richard K Cassell

Exterior Features

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.04 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: On Ridge Avenue.

Municipality:

  • Philadelphia

Price Information

Listing Price Info

Price Summary:

  • List Price: $533,000
  • Price Per SqFt: $288/SqFt

Tax Information:

  • Annual Amount: $1,121
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Philadelphia, PA.

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Philadelphia, PA

City

Med. Sold Price

$261.8K

Med. Price/SqFt

$199

Avg. Days On Market

44

# of Sold Homes

1056

2530 Ridge Ave vs Philadelphia

394 DAYS ON ROCKET

+350 Days

$533,000

+$271.1K More

$288/SqFt

+$89 More

KEY TAKEAWAY

This property is $271.1K more than the Median Sold Price and $89/SqFt more than other homes in Philadelphia, PA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #PAPH2285656

Listing Office:

  • Office Name: KW Empower
  • Office Phone: (215) 627-3500
  • Listing Agent: Richard K Cassell

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/22/2024, 4:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jun 05, 2021Home Sold
$131,123
Jul 12, 2017Home Sold
$50,000

Tax History

YEARPROP. TAXASSESSMENT
2020$1,121 -
2019$652$46,600
2018$315$22,500
2017$315$22,500

History based on county public records data.

Payment Calculator

$2,728

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,664

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-517828
1
/10

  • Richard R. Wright Elementary School

  • 2700 W Dauphin St

  • 0.51 miles

  • Public District Grades KG-5

school-card-donut-517829
2
/10

  • Kipp North Philadelphia Charter School

  • 2539 N 16th St

  • 1.15 miles

  • Public Charter Grades KG-6

school-card-donut-517830
1
/10

  • Thomas May Peirce Elementary School

  • 2300 W Cambria St

  • 1.15 miles

  • Public District Grades KG-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $11,291. Residents of Philadelphia, PA typically earn less than $35k each year. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Pennsylvania›Philadelphia County›Philadelphia›19121›2530 Ridge Ave

This home is located at 2530 Ridge Ave in Philadelphia, PA and zip code 19121 in the Lower North Philadelphia neighborhood. This 1,850 square foot home, which was built in 1915, sits on a 0.04 acre lot. It has been listed on Rocket Homes since October 24, 2023 and is currently priced at $533,000.

In October 2024 more than 252 listings in Philadelphia, PA were sold above the asking price. During the same period more than 237 listings were sold at asking price, while more than 567 were sold below. The inventory of homes for sale in Philadelphia, PA between September 2024 and October 2024 increased by 9.8%. The median list price of listings available in October 2024 was $261,807, while the average time on the real estate market was 44 days.

From Rocket Homes Real Estate and based on county public records data.

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