Philadelphia, PA 19134,3154 REACH ST
Philadelphia, PA 19134,3154 REACH ST
Philadelphia, PA 19134,3154 REACH ST
Philadelphia, PA 19134,3154 REACH ST
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$ 119,000
Est. payment | /mo

1,064 SqFt


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$ 119,000
Est. payment | /mo
Save

1,064 SqFt

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 1,064 sqft

Price per Sqft $111

Subdivision Kensington

MLS Listing ID PAPH2335144

Style AirLite

Abv Grd Liv Area 1,064

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $281

Tax Year 2024

Lot Size 708 Sqft

Acres 0.02

Lot Dimensions 14.00 x 50.00

Property Description

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 the 2 properties:
(1) 531 E. Indiana Ave, 5 Unit Building listed for $335,000.
(2) 626 E. Allegheney AVe., 2 Unit Building listed for $169,000.
The portfolio includes 9 units in 3 buildings FOR SALE.

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.

Location

State PA

County Philadelphia

Area 19134 (19134)

Zoning RSA5

Rooms

Basement Unfinished

Interior

Hot Water None

Heating Hot Water

Cooling Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Waterfront N

Water Access N

Accessibility None

Parking Type On Street

Garage N

Building

Foundation Brick/Mortar

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 331313100

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Minh Nguyen-Rivera • KW Empower
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3154 REACH ST