• 626 E Allegheny Avenue PHILADELPHIA, PA 19134

  • $169,000
  • 0
    Bed(s)
  • 0
    Baths
  • 0
    Sq Ft
  • 806
    Sqft

It is my distinguished honor to present to you Kensington Duplex, located in the Heart of Kensington, close to Fishtown, Norris Square, Olde Kensington, and other subsections of the Riverwards along the Delaware River. Situated at the intersecting sections between Kensington Ave, Lehigh Ave, & E. Allegheny Ave, this 2 unit building nestled in between public transportation infrastructure, medical institutions, new construction, and commercial mixed use corridors with a multitude of amenities. The pro-forma and other financial analysis are available for review. The lease agreements are month-to-month and we project rental income could be increased. Unit 1 [1st Floor]: 1 Bed/1 Baths: $700/month Unit 2 [2nd Floor]: 2 Bed/1 Bath: $900/month CAPITALIZATION RATE: Kensington Duplex has a capitalization rate of 9.22% with current rental income of $1,600 per month. The cap rate could increase to 10.02% if rental income was increased by $100/month to $1,700/month with minor increases on each rental unit. Cap rates could increase to 11.62% if you reduce the monthly gas operating expense by installing electric baseboards or allocate utility costs to the tenants. PACKAGE DEAL: This property is to be sold separately or together in a package deal with 531 E. Indiana Ave, a 5 Unit Building listed for $350,000. Together, there are 7 units in 2 buildings for sale. DEVELOPMENT: There are major development projects occurring nearby, including commercial mixed use corridor revitalization of Kensington Ave, which has commercial storefronts underneath the Blue Train line. There are also block developments of major projects that range from 15 unit development to 200 unit development nearby. Investors also acquire shells, factories, storage facilities, warehouses, and other industrial hubs that have laid vacant since the Industrial Revolution of Philadelphia and transform these buildings into multi-unit dwellings and apartment complexes. The combination of public transportation infrastructure meets commercial mixed use corridors allow for tenants to access amenities that makes this multi-unit building a highly desirable and easy to rent building. Projects such as the Hagert Block development, Kensington Courts, Allegheny Ave. commercial development, and other major projects will lead the way to a new Kensington. QUALIFIED OPPORTUNITY ZONE: This property is located within a Qualified Opportunity Zone, allowing investor capital gains tax advantages, which will exacerbate development and investments in these areas. Additional features include: - Easy Parking - Close to trolley, bus stops, the thoroughfares, L Blue Train - Multicultural cuisine & food establishment - Close proximity to Fishtown, Norris Square, Olde Kensington, Port Richmond, and other subsections of the Riverwards. Invest in the City of Brotherly Love & Sisterly Affection, from monstrous skyscrapers, to the stadiums, to the Delaware River, & surrounding landscape of the great City of Philadelphia. The property is close to trolley and bus stops, and less than 10 minutes from the Philadelphia International Airport. and close to multi-modal public transportation, 1-95 highway, and highways to New Jersey and other parts of the Tri-State Counties. We thank you for your consideration and we look forward to doing business with you. We will ensure a professional and respectful transaction for all parties and we wish you luck in the search for your new home in the City of Brotherly Love & Sisterly Affection.

Property Type :

Multi-Family

County :

PHILADELPHIA

Style :

Multi-Family

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Property Details

 

Water/Sewer

Water Source : Public

Interior Features

Basement Description: Other

Heating & Cooling

Cooling: Window Unit(s)

Heating: Radiator

Cooling Fuel: None

Heating Fuel: Natural Gas

Building Information

Year Built: 1920

Structure: Interior Row/Townhouse

New Construction: No

Total Units: 1

Built: 1920

Construction Material: Masonry

Foundation/Basement: Other

Architecture: AirLite

Pool/Private: No Pool

Pool Information

Pool: No Pool

Utility Features

Sewer: Public Sewer

Water

Water Heat: Natural Gas

Lot Information

Lot Size: 806

Dimensions: 14.66 x 55.00

Lot Size (Acres): 0.02

Architectural Style: AirLite

Main Square Feet: 806

Property Information

SQ ft: 1,173

SQ ft (Living Area): 1,173

Total Lot SQ ft: 806

Financing: Cash,Conventional,FHA,FHA 203(k),VA

Appx. Lot Dimensions: 14.66 x 55.00

Total Acreage: 0.02

New Construction: No

Type: AirLite

Listing Information

Possession: Immediate

Days Of Market: 30

Tax Information

Annual Tax: $856

Tax Year: 2022

Total Taxes Payment Frequency: Annually

Possession

Immediate

Assessment Information

Taxes Assessment Amount: $61,200

Parking Information

Parking Type: On Street

Has Garage: N

Multi-Unit Information

Acceptable Financing: Cash,Conventional,FHA,FHA 203(k),VA

Homeowners Association Information

Direction: Travel onto N Front St. Turn slight right onto Kensington Ave. Turn slight left onto E St. Turn right onto E Allegheny Ave. 626 E ALLEGHENY AVE is on the right.

School Information

School District: THE SCHOOL DISTRICT OF PHILADELPHIA

Utility Information

Water Source: Public

Sewer: Public Sewer

Cooling Fuel: None

Heating Fuel: Natural Gas

Hot Water: Natural Gas

Location Information

Direction: Travel onto N Front St. Turn slight right onto Kensington Ave. Turn slight left onto E St. Turn right onto E Allegheny Ave. 626 E ALLEGHENY AVE is on the right.

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2306 E Venango Street , Philadelphia, PA,19134 $148,000 -- -- 1,600 1600 Sqft
2066 E Monmouth Street , Philadelphia, PA,19134 $40,000 -- -- 700 700 Sqft
1950 Hart Lane , Philadelphia, PA,19134 $84,000 4 1.0 1,260 957 Sqft
1909 E Sterner Street , Philadelphia, PA,19134 $28,250 -- -- 446 446 Acres
3070 Jasper Street , Philadelphia, PA,19134 $43,500 -- -- 825 825 Sqft
3072 Jasper Street , Philadelphia, PA,19134 $43,500 -- -- 825 825 Sqft
Land, Philadelphia, PA,19134 $74,900 -- -- 952 952 Sqft
2785 Emerald Street , Philadelphia, PA,19134 $58,500 -- -- 948 948 Sqft
3210-12 Frankford Avenue , Philadelphia, PA,19134 $434,000 -- -- -- 1748 Sqft
2044 E Rush Street , Philadelphia, PA,19134 $61,500 -- -- 972 972 Sqft

Data provided by Bright MLS. Property information is for the users personal, non-commercial use. Information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties that appear on the website may no longer be for sale, and may be under contract or sold. ©2024 Bright MLS, All Rights Reserved. Information is reliable but not guaranteed.

ByOwner last updated this listing 05/03/2024 @ 09:53

MLS: PAPH2326594
LISTED BY: Minh Nguyen-Rivera , KW Empower
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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