1614 RIDGE - NEW CONSTRUCTION

Philadelphia, PA

Overview

  • Offering Price Subject to Offer
  • Apartment Units 32
  • Commercial Units 2
  • Building Size 45,030 GSF
  • Parking Spaces 17
  • Lot Size 11,251 SF

1614 Ridge Avenue is situated in the Francisville section of Philadelphia. The Property is comprised of 32 newly-constructed apartment units and two commercial spaces.

1614 Ridge has a desirable unit mix with 50% one-bedroom and 50% two-bedroom apartments. The units boast high-end finishes including stainless steel appliances, stone countertops, tile backsplashes, attractive flooring, upgraded cabinetry, and designer light fixtures. Furthermore, the Property features oversize floor plans, central HVAC, an in-unit washer/dryer, and private balconies. Residents will enjoy the gym, a well-appointed lobby, and gated off-street parking.

1614 Ridge is within walking distance of the rapidly expanding Ridge Avenue corridor as well as the Fairmount Avenue corridor that contains award-winning restaurants and essential retailers. The Property is located minutes from major thoroughfares such as I-76, I-676, and I-95, providing unparalleled access to the Philadelphia MSA. Further, a major transit station at Broad Street and Fairmount Avenue sits a couple of blocks away carrying commuters into Center City via the Broad Street Subway and Ridge Avenue Spur.

Francisville has exploded with development over the last 10 years bringing high-end apartment products and subsequent density to vacant parcels. The neighborhood has been transformed from a once-forgotten location northeast of Fairmount to a sought-after place for young professionals.

Investment Highlights

Affordable Luxury Apartment Living: High-End Finishes at a Discount to Center City

Oversized Floor Plans: On Average Larger Floor Plans than the Competitive Set

Highly Amenitized Asset: Property Features a Lobby, Gym, Balconies, and Gated Parking
Rapidly Gentrifying Francisville Location: Neighborhood Experiencing Significant Growth

Proximity to Major Employment Centers: Quick Commute to Temple University and Center City Philadelphia

New Construction Asset: Little to No Deferred Maintenance; Turnkey Operation

Team

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800

Alan Krawitz

Associate Director
GREA
267-323-4083
610-420-4559

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726

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