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1533 Ridge Ave

Philadelphia PA 19130

24
25600 sq. ft.
6328 sq. ft.
Other
Currently for sale - view listing

Overview

Now available, for sale: "The Maven" in Philadelphia, Pennsylvania. This boutique, 29-unit new construction apartment building represents one of the most attractive turnkey multifamily acquisition opportunities in the marketplace, located within steps of the Septa Broad Street subway. The Property is over 90% leased (actively in lease-up) with a full 10 year tax abatement and minimal operating expenditures. The Maven contains 25,600+ SF and is exceptionally located on a vibrant commercial corridor (Ridge Avenue) in a rapidly maturing urban core submarket (Francisville), which is poised for continuous rent growth and asset appreciation. $507k+ pro forma NOI. One (1) commercial space; Four (4) studios; Nineteen (19) 1-bedrooms; Five (5) 2-bedrooms. Incredible redbrick curb appeal and carefully designed, luxurious interiors. Elevator and common rooftop terrace with sweeping skyline vistas. Masterfully constructed by TCG. 10 year tax abatement. $5,750,000 assumable loan at 5.40% for qualified borrowers.

Features

24 bedrooms
25600 sq. ft. floor area
6328 sq. ft. lot size
Other

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