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$182,852*
●
Multifamily -
Off Market
626 E ALLEGHENY AVENUE
PHILADELPHIA, PA 19134
Studio
0 Bath
1173 Sqft
$158,000 - $192,000
Reference Base Price*
4.49%
Since Mar 1, 2023
National-US
Primary Model
About This Property
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/monthUnit 2 [2nd Floor]: 2 Bed/1 Bath:
$900/monthCAPITALIZATION 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.
The manager has listed the unit size as 1173 square feet.
The manager has listed the unit size as 1173 square feet.
Unit Size
1,173Ft²
Days on Market
-
Land Size
0.02 acres
Price per sqft
$149
Property Type
Multifamily
Property Taxes
$71
HOA Dues
-
Year Built
1920
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Feb 18, 2023 | No longer available | - | |
No longer available | |||
Nov 4, 2022 | Listed | $175,000 | |
Listed |
Property Highlights
Air Conditioning
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
Sold
Townhouse
3
Beds
2
Baths
1,176 ft²
$146/ft²
$172,000
Jul 1, 2023
$172,000
Aug 31, 2023
-
Sold
Townhouse
3
Beds
2
Baths
1,136 ft²
$155/ft²
$176,000
Mar 7, 2019
$176,000
Apr 29, 2019
-
Sold
Townhouse
3
Beds
2
Baths
1,168 ft²
$120/ft²
$140,000
Nov 11, 2020
$140,000
Apr 1, 2021
-
Sold
Townhouse
3
Beds
2
Baths
1,200 ft²
$123/ft²
$148,000
Apr 26, 2023
$148,000
Jun 14, 2023
-
Sold
Townhouse
3
Beds
2
Baths
1,064 ft²
$159/ft²
$169,000
Dec 2, 2020
$169,000
Mar 10, 2021
-
Active
Townhouse
3
Beds
1
Bath
1,144 ft²
$122/ft²
$140,000
Aug 1, 2022
-
-
Active
Townhouse
4
Beds
2
Baths
1,180 ft²
$123/ft²
$144,900
Feb 5, 2024
-
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
06/08/2023
|
|
Studio
|
-
|
1173 ft²
|
$175,000
Studio
-
1173 ft²
|
-
-
|
-
|
Minh Nguyen-Rivera
Keller Williams Philly
|
11/04/2022
|
|
Studio
|
-
|
1173 ft²
|
$175,000
Studio
-
1173 ft²
|
-
-
|
-
|
Minh Nguyen-Rivera
Keller Williams Philly
|
11/18/2021
|
|
Studio
|
-
|
1173 ft²
|
$150,000
Studio
-
1173 ft²
|
-
-
|
-
|
Minh Nguyen-Rivera
Keller Williams Philly
|
Building Info
626 East Allegheny Avenue
626 East Allegheny Avenue, Philadelphia, PA 19134
- 1 Unit for Sale
About North Philadelphia
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