Agent PHL Sells 1519 Ridge Avenue Multifamily In Philadelphia For $6.7M

The property at 1519 Ridge Avenue in Philadelphia, Pennsylvania, is a 19-unit multifamily investment property that was sold for $6,700,000. The per-unit price for this asset was $352,632.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $6,700,000
• Address: 1519 Ridge Avenue
• Market: Philadelphia

Ryan McManus from Agent PHL, representing The Seller, and Sean Kelly from KBC Advisors were the brokers involved in the sale of the property at 1519 Ridge Avenue. This transaction reflects the resurgent investment market in Philadelphia in Q224, particularly in neighborhoods like Francisville, driven by growing rental demand and favorable market conditions.