2626-30 Ridge Avenue

Description

Motivated seller. Significant value add opportunity through continued leasing. Market rents are $1550-$1650 if new owner chooses, section 8 new 2 bedroom rent allows up to $1764 per month. 2626-30 Ridge avenue is an 8 unit property with a 1 car garage. It was fully gut renovated this year. This property is available as part of a portfolio or may be purchased individually. Unit 2 is currently available for lease and is being marketed at $1650 per month. The portfolio is comprised of 15 units over 4 locations. Two duplexes, atriplex, and an eight unit building with a single car garage. All propertiesare located in Philadelphia neighborhoods of Sharswood and OldeKensington. Per bestplaces.net, the 19133 (Old Kensington) zip code hasenjoyed 17.3% home appreciation in the last 10 years.It also has a robust market for renters making up 45.3% of the population.Home appreciation in the 19121 zip code (Sharswood) has been 19.8%over the last 10 years . Renters make up 49.8% ofthe population. All of these properties have undergone full gutrenovations and were stripped down to the studs. Many of the layoutswere reconfigured. Each property was then rebuilt with new electric,plumbing, hvac, roofing, windows, curb traps where necessary,appliances, kitchens, bathrooms, etc... Each property has a 10 year taxabatement secured. All properties will be sold "as is, where is with all faults and defects"Please take a look at the additional information on the attached brochures. Available properties are a duplex at 2118 W Master st Philadelphia PA 19121, a duplex at 2527 N Front st Philadelphia PA 19133, Triplex at 2323 N 2nd st Philadelphia PA 19121. Portfolio Price $3.65mmAlso available is 1937 N Marshall st. A 9 Unit shovel ready ground up construction project for $525,000