About 1602 Ridge Ave
Turn-Key Investment in the Heart of Fairmount An incredible opportunity to own a fully leased new construction property in one of Philadelphia’s fastest-growing neighborhoods. Offering more than $103,000 in projected net annual income and a strong 8.75% cap rate, this is a true plug-and-play investment. The building’s modern exterior sets the tone with its distinctive stonework, crisp white brick, and elegant wrought-iron balconies. The street-level commercial suite spans two floors, with dramatic 12-foot ceilings on the main level and an additional lower level with 8-foot ceilings — ideal for long-term tenant use. Above the commercial space are well-appointed one-bedroom apartments, each thoughtfully laid out with approx. 730 sq. ft. of stylish living space. Features include: •
Features of 1602 Ridge Ave
| MLS® # | PAPH2534912 |
|---|---|
| Price | $1,150,000 |
| Bathrooms | 0.00 |
| Square Footage | 2,704 |
| Acres | 0.03 |
| Year Built | 1920 |
| Type | Multi-Family |
| Sub-Type | Quad, Interior Row/Townhouse |
| Style | Contemporary |
| Status | Active |
Community Information
| Address | 1602 Ridge Ave |
|---|---|
| Area | 19130 |
| City | PHILADELPHIA |
| County | PHILADELPHIA-PA |
| State | PA |
| Municipality | PHILADELPHIA |
| Zip Code | 19130 |
Amenities
| Is Waterfront | No |
|---|
Interior
| Heating | Forced Air |
|---|---|
| Cooling | Central A/C |
| Has Basement | No |
| Fireplace | No |
Exterior
| Foundation | Other |
|---|
School Information
| District | PHILADELPHIA CITY |
|---|
Additional Information
| Date Listed | September 15th, 2025 |
|---|---|
| Days on Market | 38 |
| Zoning | CMX25 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Compass RE |
|---|---|
| Contact Info | 2674358015 |