626 E ALLEGHENY AVE, Philadelphia, PA 19134
626 E ALLEGHENY AVE, Philadelphia, PA 19134
626 E ALLEGHENY AVE, Philadelphia, PA 19134
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Graceann Tinney

Graceann Tinney

+1(267) 373-8244
Listed by Minh Nguyen-Rivera • KW Empower
$168,000
Est. payment /mo
1,173 SqFt
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UPDATED:

Key Details

Property Type Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 1,173 sqft

Price per Sqft $143

MLS Listing ID PAPH2464358

Style AirLite

Abv Grd Liv Area 1,173

Year Built 1920

Annual Tax Amount $977

Tax Year 2025

Lot Size 806 Sqft

Acres 0.02

Lot Dimensions 14.66 x 55.00

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

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 7.30% with current rental income of $1,500 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 the 2 properties:
(1) 531 E. Indiana Ave, 5 Unit Building listed for $335,000.
(2) 3154 Reach St., 2 Unit Building listed for $119,000.
The portfolio includes 9 units in 3 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.

Location

State PA

County Philadelphia

Area 19134 (19134)

Zoning RM-1

Rooms

Basement Other

Interior

Hot Water Natural Gas

Heating Radiator

Cooling Window Unit(s)

Flooring Luxury Vinyl Plank

Fireplace N

Heat Source Natural Gas

Exterior

Utilities Available Natural Gas Available, Water Available, Electric Available

Water Access N

Roof Type Flat

Accessibility None

Garage N

Private Pool No

Building

Foundation Other

Above Ground Finished SqFt 1173

Sewer Public Sewer

Water Public

Architectural Style AirLite

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 331032200

Ownership Fee Simple

SqFt Source 1173

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

Listing Terms Cash, Conventional, FHA, FHA 203(k), VA

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

Special Listing Condition Standard

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Bright MLS (BMLS)

NEARBY SCHOOL & BUSINESS

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Graceann Tinney

Graceann Tinney

Agent RSRS344523

+1(267) 373-8244

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626 E ALLEGHENY AVE

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