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$119,500
↓ $500 (0.4%)
●
Townhouse -
For Sale
3154 REACH ST
PHILADELPHIA, PA 19134
Studio
0 Bath
$587
Estimated Monthly
$0
HOA / Fees
About This Property
It is my distinguished honor to present to you Kensington Quarters,
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
duplex nestled in between public transportation infrastructure,
medical institutions, new construction, and commercial mixed use
corridors with a multitude of amenities. Both units are occupied
and current on rent payments. The pro-forma and other financial
analysis are available for review. The lease agreements are annual
leases and we project rental income could be increased.
Unit 1 [1st Floor]: 1 Bed | 1 Bath: $800/month |
Unit 2 [2nd Floor]: 2 Bed/1 Bath: $800/month
CAPITALIZATION RATE: Kensington Quarters has a capitalization rate of 14.75% with current rental income of $1,600 per month. PACKAGE DEAL: This property is to be sold separately or together in a package deal with 626 E. Allegheny Ave., a duplex listed for $169,000 and/or 531 E. Indiana Ave, a 5 Unit B building listed for $340,000.
Together, there are 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.
Unit 1 [1st Floor]: 1 Bed | 1 Bath: $800/month |
Unit 2 [2nd Floor]: 2 Bed/1 Bath: $800/month
CAPITALIZATION RATE: Kensington Quarters has a capitalization rate of 14.75% with current rental income of $1,600 per month. PACKAGE DEAL: This property is to be sold separately or together in a package deal with 626 E. Allegheny Ave., a duplex listed for $169,000 and/or 531 E. Indiana Ave, a 5 Unit B building listed for $340,000.
Together, there are 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.
Unit Size
-
Days on Market
40 days
Land Size
0.02 acres
Price per sqft
-
Property Type
Townhouse
Property Taxes
$23
HOA Dues
-
Year Built
1920
Listed By
Last updated: 5 days ago (Bright MLS #PAPH2335144)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
May 2, 2024 | Price Decreased |
$119,500
↓ $500
(0.4%)
|
|
Price Decreased | |||
Mar 27, 2024 | Listed by KW Empower | $120,000 | |
Listed by KW Empower | |||
Jul 20, 2022 | Sold | $45,000 | |
Sold |
Property Highlights
Air Conditioning
Parking Details
Parking Features: On Street
Interior Details
Interior Information
Living Area Square Feet Source: Assessor
Basement Information
Has Basement
Unfinished
Exterior Details
Property Information
Ownership Interest: Fee Simple
Year Built Source: Assessor
Building Information
Foundation Details: Brick/Mortar
Other Structures: Above Grade, Below Grade
Structure Type: Interior Row/Townhouse
Construction Materials: Masonry
Pool Information
No Pool
Lot Information
Tidal Water: N
Lot Size Dimensions: 14.00 x 50.00
Lot Size Source: Assessor
Land Information
Land Assessed Value: $20,100
Financial Details
County Tax: $0
County Tax Payment Frequency: Annually
City Town Tax: $126
City Town Tax Payment Frequency: Annually
Tax Assessed Value: $20,100
Tax Year: 2022
Tax Annual Amount: $281
Year Assessed: 2023
Utilities Details
Central Air
Cooling Type: Central A/C
Heating Type: Hot Water
Cooling Fuel: None
Heating Fuel: Natural Gas
Hot Water: None
Sewer Septic: Public Sewer
Water Source: Public
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Townhouse
3
Beds
2
Baths
1,166 ft²
$103/ft²
$120,000
Jun 5, 2023
$120,000
Nov 3, 2023
-
Townhouse
3
Beds
1
Bath
1,260 ft²
$87/ft²
$110,000
Feb 21, 2023
$110,000
Jul 6, 2023
-
Townhouse
3
Beds
2
Baths
1,176 ft²
$98/ft²
$115,000
Jul 26, 2022
$115,000
Sep 15, 2022
-
Townhouse
4
Beds
1
Bath
1,696 ft²
$47/ft²
$80,000
Aug 15, 2023
$80,000
Oct 3, 2023
-
Sold
Townhouse
3
Beds
1
Bath
952 ft²
$126/ft²
$120,000
Oct 5, 2023
$120,000
Feb 13, 2024
-
Sold
Townhouse
3
Beds
1
Bath
1,010 ft²
$116/ft²
$117,000
Aug 23, 2021
$117,000
Nov 12, 2021
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
3154 Reach Street
3154 Reach Street, Philadelphia, PA 19134
- 1 Unit for Sale