626 East Allegheny Avenue
626 East Allegheny Avenue
Description
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.
- Listed by Minh Nguyen-Rivera • KW EmpowerP: 2676288062 winwithminhphilly@gmail.com
Property Details for 626 East Allegheny Avenue
Location
Property Details for 626 East Allegheny Avenue
| Status | Active |
|---|---|
| MLS # | PAPH2326594 |
| Days on Market | 65 |
| Taxes | $856 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fee Simple |
| Year Built | 1920 |
| Lot Size | 0.02 AC / 806 SF |
| County | Philadelphia County |
Location
Building Information for 626 East Allegheny Avenue
Payment Calculator
$994 per month
30 year fixed, 7.25% Interest
$922
$71
$0
Property Information for 626 East Allegheny Avenue
- School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
- School District County ID: 300200397108
- SchoolDistrictSource: Listing Agent
- County: PHILADELPHIA
- MLS Area: 19134 (19134)
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
- Tax Year: 2022
- Tax Assessed Value: $61,200
- Zoning: RM-1
- Automatically Update Tax Values Y/N: No
- Single Room Units Count: 0
- One Bedroom Units Count: 1
- Two Bedroom Units Count: 1
- Three Bedroom Units Count: 0
- Other Units: Unit 1,Unit 2
- Type: Unit 1
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Lease Type: Month to Month
- Beds Total: 1
- Full Baths Count: 1
- Type: Unit 2
- Unit Type Occupied YN: Yes
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Building Units Total: 1
- Total Finished SQFT: 1,173.00
- Total Finished SQFT Source: Estimated
- Total SQFT: 1,173.00
- Total SQFT Source: Estimated
- Construction Materials: Masonry
- Basement Type: Other
- Foundation Details: Other
- Lot Size Source: Estimated
- Lot Size Dimensions: 14.66 x 55.00
- Lot Dimensions Source: Estimated
- Parcel ID: 1079982
- Type Of Parking: On Street
- Fireplace: No
- Accessibility Features: None
- Spa: No
- Pool: No Pool
- Other Structures: Above Grade, Below Grade
- Heating: Yes
- Cooling Type: Window Unit(s)
- Cooling Fuel: None
- Heating Type: Radiator
- Heating Fuel: Natural Gas
- Hot Water: Natural Gas
- Water Source: Public
- Sewer Septic: Public Sewer
- List Agent AOR: Greater Philadelphia Association of REALTORS
Property History for 626 East Allegheny Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 626 East Allegheny Avenue
Schools near 626 East Allegheny Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 4 | |||
| Public - | 5 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Elkin Lewis School PublicK to 4 | ||
Conwell Russell Middle School Public5 to 8 | ||
Edison Hs/Fareira Skills Public9 to 12 | ||
Mastbaum Jules E Avts Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of KW Empower
Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.