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Key Details
Sold Price $200,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,545 sqft
Price per Sqft $129
Subdivision Sharswood
MLS Listing ID PAPH2390748
Sold Date 02/24/25
Style Other
Abv Grd Liv Area 1,545
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $1,577
Tax Year 2024
Lot Size 690 Sqft
Acres 0.02
Lot Dimensions 27.00 x 48.00
Property Sub-Type Triplex
Property Description
INVESTOR SPECIAL: Welcome to 2150 Ridge Ave, a 3-unit multi-family property in the desirable Sharswood neighborhood! Currently, one of the three units are rented (#1- $700). The building could generate a potential cash flow of $2,250 per month with a strong 9% cap rate. The vacant units could be rented as-is for $800/month, however, this property offers an excellent investment opportunity, with the potential to increase rents up to $1,000 per unit with basic cosmetic updates. Additionally, Section 8/PHA approval could nearly double rents to around $1,300 per unit. Conveniently located near public transportation, Brewerytown, grocery stores, laundromats, the Stephen Klein Wellness Center, and more, this property is a prime candidate for maximizing your investment in a rapidly developing area. Don't miss out!
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling None
Fireplace N
Heat Source Electric
Exterior
Water Access N
Accessibility 2+ Access Exits
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 291274305
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Porcha Lee • Jason Mitchell Group