Listed By:
Keller Williams Philly
626 E Allegheny Avenue, Philadelphia, PA
$ 175,000
Property Attributes
  • MLS#PAPH2245254
  • TypeMulti-Family
  • CityPhiladelphia
  • Area19134
  • Zip19134
  • StyleAirLite
  • Year Built1920
  • Taxes$ 856
  • Price$ 175,000
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size871 SqFt
Data Source:
Bright MLS
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 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.

Price History
6/8/2023 Listed $175,000

General Features

Acceptable Financing Cash, Conventional, FHA, FHA 203(k), VA
Accessibility None
Architectural Style AirLite
Construction Materials Masonry
Cool Fuel None
Cooling Window Unit(s)
Days on Market 173
Garage Y/N No
Heating Radiator
Lot Size Square Feet 806.00
MLS Area 19134 (19134)
New Construction No
One Bedroom Units Count 1
Other Structures Above Grade, Below Grade
Other Units Unit 1, Unit 2
Percent Ownership Fee Simple
Pool Y/N No Pool
Possession Immediate
Price Per Sq Ft 149.19
Property SubType Duplex
Property Type Multi-Family
School District 300200397108
Sewer Public Sewer
Structure Type Interior Row/Townhouse
Tax Annual Amount 856.0
Tax Year 2022
Total Units 1
Two Bedroom 1
Vacation Rental Y/N No
Water Access Y/N No
Waterfront Y/N No
Year Built 1920
Zoning RM-1

Interior Features

Basement Other
Central Air Y/N No
Fireplace Y/N No
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Natural Gas

Exterior Features

Living Area 1173
Foundation Details Other
Lot Dimensions 14.66 x 55.00
Lot Size Acres 0.02
Lot Size Source Estimated
Navigable Water Y/N No
Spa No
Type of Parking On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 19134

AVG $340K
AVG $2,117
AVG 132
Data Provided by Inside Real Estate®
Year Built
AVG 1919
AVG 79
Data Provided by Walkscore® not using MLS data

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