531 E INDIANA AVENUE, PHILADELPHIA, PA 19134

$334,888

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,… Read More 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. Read Less

Courtesy of Minh Nguyen-Rivera, KW Empower [email protected]

Listing Snapshot

Days Online

Last Updated

Apr 28, 2025

Property Type

Townhouse

Square Ft.

2,322

Lot Size

0.02 Acres

Year Built

1920

MLS Number

PAPH2439226

Additional Details

Building

Masonry, 2,322 sqft living area, Built in 1920, Structure Type: End of Row/Townhouse, 4 units in building, AirLite

Cooling

Electric, Window Unit(s)

Expenses

Insurance Expense: $1,700, Operating Expense: $5,689, Insurance

Floors

Luxury Vinyl Plank

Foundation

Concrete Perimeter

Heating

Electric, Central

Income

Gross Income: $43,800, Gross Scheduled Income: $43,800, Net Operating Income: $38,111, Apartment Rentals

Lot

918 sqft, Lot Size Dimensions: 18.00 x 51.00, 0.02 acres

Property

Other Structures: Above Grade, Below Grade, Other Units: Unit 1, Unit 2, Unit 4, Unit 5, Unit 3, 2 one-bedroom units, 2 single-room units, 1 two-bedroom unit

Roof

Flat

Sewer

Public Sewer

Taxes

City/Town Tax: $898, City/Town Tax Pymnt Freq: Annually, County Tax Pymnt Freq: Annually, School Tax: $1,143, Tax Annual Amount: $2,042, Tax Year: 2024

Utilities

Hot Water: Natural Gas

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