3154 Reach Street
Philadelphia, PA 19134
$119,000
Price
3
Beds
2
Baths
1,064 Sq. Ft.
$112 / Sq. Ft.
1,064
Sq. Ft.
$112
per Sq. Ft.
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...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.
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.
- Listed by Minh Nguyen-Rivera • KW EmpowerP: (267)-628-8062 winwithminhphilly@gmail.com
Property Details for 3154 Reach Street
Tax ID Number
331313100
OwnershipFee Simple
Structure TypeInterior Row/Townhouse
StyleAirLite
WaterfrontNo
GarageNo
Expected On Market Date03-29-2024
SubdivisionKENSINGTON
LISTING UPDATED: 10/23/2024 10:36 AM
Property Details for 3154 Reach Street
| Status | Active |
|---|---|
| MLS # | PAPH2335144 |
| Days on Market | 235 |
| Taxes | $281 / 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 / 708 SF |
| County | Philadelphia County |
Building Information for 3154 Reach Street
Stories-Residences2Year Built1920Building Size-Lot Size0.02 AC / 708 SF
Property Information for 3154 Reach Street
Location
Location
- School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
- School District County ID: 300200397108
- SchoolDistrictSource: Listing Agent
- County: PHILADELPHIA
- MLS Area: 19134 (19134)
Waterfront / Water Access
Waterfront / Water Access
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
- Tax Year: 2024
- Tax Assessed Value: $20,100
- Year Assessed: 2024
- Improvement Assessed Value: $16,080
- City Town Tax: $123
- Land Assessed Value: $4,020
- Clean Green Assessed: No
- Land Use Code: O30
- Zoning: RSA5
- Tax Lot: 90
- School Tax: $157
- Automatically Update Tax Values Y/N: Yes
- TaxDataUpdatedYN: No
Lease Information
Lease Information
- Owner Pays: Insurance, Taxes - Personal property
Unit Information
Unit Information
- 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
- Units Leased Count: 2
- Number Of Units Vacant: 0
- Number Of Units Month To Month: 0
- Rent Control: No
Multi Family
Unit 1
- Type: Unit 1
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Lease Type: Yearly
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: 1 Bed | 1 Bath Uni-level on first floor story.
Unit 2
- Type: Unit 2
- Unit Type Occupied YN: Yes
- Level: 2
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 2 Beds | 1 Bath - Uni-level 2nd story.
Financial Information
Expenses
- Operating Expense: $1,500
- Operating Expense Includes: Insurance
- Insurance Expense: $1,000
Financial Information
- Gross Income: $19,200
- Gross Scheduled Income: $19,200
- Net Operating Income: $17,700
- Annual Rental Income: $19,200
- Income Includes: Apartment Rentals
- Existing Lease Type: Yearly
Building Info
Building Info
- Building Units Total: 2
- Total Finished SQFT: 1,064.00
- Total Finished SQFT Source: Assessor
- Tax Total Finished SQFT: 1,064.00
- Total SQFT: 1,064.00
- Total SQFT Source: Assessor
- Construction Materials: Masonry
- Basement Type: Unfinished
- Foundation Details: Brick/Mortar
Lot / Land Information
Lot / Land Information
- Lot Size Source: Assessor
- Lot Size Dimensions: 14.00 x 50.00
- Lot Dimensions Source: Assessor
- Parcel ID: 1082505
Parking
Parking
- Type Of Parking: On Street
Interior Features
Interior Features
- Fireplace: No
- Accessibility Features: None
Exterior Features
Exterior Features
- Spa: No
- Pool: No Pool
- Other Structures: Above Grade, Below Grade
Utilities
Utilities
- Heating: Yes
- Cooling Type: Central A/C
- Cooling Fuel: None
- Heating Type: Hot Water
- Heating Fuel: Natural Gas
- Hot Water: None
- Water Source: Public
- Sewer Septic: Public Sewer
Confidential Data
Listing Office
- List Agent AOR: Greater Philadelphia Association of REALTORS
Property History for 3154 Reach Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3154 Reach Street
Taxable ValueLand$4,020Additions$16,080Total$20,100
Tax Record2023$281 ($23 / month)
Home Facts
Beds3Total Finished SqFt1,064 SqFtAbove Grade Finished SqFt1,064 SqFtStories2Lot Size708 SqFtStyleCondominiumYear Built1920ZoningRSA5CountyPHILADELPHIAAPN33-1-3131-00
Schools near 3154 Reach Street
This home is within The School District of Philadelphia.
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.