531 E Indiana Ave Philadelphia, PA 19134
Upper Kensington NeighborhoodEstimated payment $1,994/month
Total Views
2,928
--
Bed
--
Bath
2,322
Sq Ft
$144
Price per Sq Ft
Highlights
- Luxury Vinyl Plank Tile Flooring
- 5-minute walk to Somerset
- 2-minute walk to Hissey Playground
- Central Heating
- Property is in very good condition
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,042
Year Built
- Built in 1920
Lot Details
- 918 Sq Ft Lot
- Lot Dimensions are 18.00 x 51.00
- Property is in very good condition
Home Design
- AirLite
- Flat Roof Shape
- Concrete Perimeter Foundation
- Masonry
Interior Spaces
- Luxury Vinyl Plank Tile Flooring
Utilities
- Window Unit Cooling System
- Central Heating
- Natural Gas Water Heater
Listing and Financial Details
- Tax Lot 97
- Assessor Parcel Number 871511630
Community Details
Overview
- 4 Units
Building Details
- Income includes apartment rentals
- Insurance Expense $1,700
- Operating Expense $5,689
- Gross Income $43,800
- Net Operating Income $38,111
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,830 | $145,900 | $29,180 | $116,720 |
| 2024 | $1,830 | $145,900 | $29,180 | $116,720 |
| 2023 | $1,830 | $130,700 | $26,140 | $104,560 |
| 2022 | $1,830 | $130,700 | $26,140 | $104,560 |
| 2021 | $1,351 | $0 | $0 | $0 |
| 2020 | $1,351 | $0 | $0 | $0 |
| 2019 | $1,338 | $0 | $0 | $0 |
| 2018 | $1,265 | $0 | $0 | $0 |
| 2017 | $546 | $0 | $0 | $0 |
| 2016 | $546 | $0 | $0 | $0 |
| 2015 | $523 | $0 | $0 | $0 |
| 2014 | -- | $121,000 | $4,964 | $116,036 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/01/2025 04/01/25 | Price Changed | $334,888 | 0.0% | $144 / Sq Ft |
| 03/31/2025 03/31/25 | For Sale | $335,000 | -- | $144 / Sq Ft |
Source: Bright MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $25,000 | None Available |
Source: Public Records
Similar Homes in Philadelphia, PA
Source: Bright MLS
MLS Number: PAPH2439226
APN: 871511630
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