PA > Philadelphia
Philadelphia, PA 19134,531 E INDIANA AVE
Philadelphia, PA 19134,531 E INDIANA AVE
Philadelphia, PA 19134,531 E INDIANA AVE
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John Coleman

John Coleman

+1(202) 427-9689
Listed by Minh Nguyen-Rivera • KW Empower
$334,888
Est. payment /mo
2,322 SqFt
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UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type End of Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 2,322 sqft

Price per Sqft $144

MLS Listing ID PAPH2439226

Style AirLite

Abv Grd Liv Area 2,322

Year Built 1920

Annual Tax Amount $2,042

Tax Year 2024

Lot Size 918 Sqft

Acres 0.02

Lot Dimensions 18.00 x 51.00

Property Sub-Type End of Row/Townhouse

Source BRIGHT

Property Description

KENSINGTON QUARTERS: 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 5 unit building nestled in between public transportation infrastructure, medical institutions, new construction, and commercial mixed use corridors with a multitude of amenities. 4 of the 5 units are occupied and we are interviewing tenants for the 5th unit. 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]: Studio: $600/month | Unit 2 [1st Floor]: 1 Bed/1 Bath: $600/month | Unit 3 [2nd Floor]: Studio: $750/month | Unit 4 [2nd Floor]: 1 Bed/1 Bath: $700/month | Unit 5 [3rd Floor]: 2 Bed/1 Bath: $950/month CAPITALIZATION RATE: Kensington Quarters has a capitalization rate of 11.13% with current rental income of $3,650 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 & 3154 Reach St., a duplex listed for $125,000. 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.

Location

State PA

County Philadelphia

Area 19134 (19134)

Zoning RM-1

Interior

Hot Water Natural Gas

Heating Central

Cooling Window Unit(s)

Flooring Luxury Vinyl Plank

Fireplace N

Heat Source Electric

Exterior

Water Access N

Roof Type Flat

Accessibility None

Garage N

Building

Foundation Concrete Perimeter

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 871511630

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

Financing Conventional,Cash

Special Listing Condition Standard

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Bright MLS (BMLS)
agent
John Coleman

REALTOR® | OWNER | License ID: SP98375761

+1(202) 427-9689 | john@colemanresidential.com

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