Five-Unit Multifamily
For Sale
$330,000
531 E Indiana Avenue, Philadelphia, PA 19134
Five-unit building with four occupied month-to-month leases and a leasing opportunity for the fifth unit.
Property Size3,122 SF
Price / SF$142.12
Days on Market528
Property Features for 531 E Indiana Avenue
General Information
Standard status
Active
Size
3,122 SF
Property subtype
Multi-Family
Zoning
RM-1
Occupancy
80%
Net Operating Income
$38,111
Financials
Cap Rate
11.13%
Opportunity Zone
Yes
Additional Details
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$2,042
Amenities
Luxury Vinyl Plank
Natural Gas
Yes
Electric
No
Assessor
No Pool
Public
S50
18.00 x 51.00
0.02
Concrete Perimeter
29180.00
Building Details
Building Size
3,122 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Wright Real Estate, LLC
(856) 222-0077
Listed By:
Julia Joyce-Hall
(856) 630-4482
Source:
Thetristaterealestategroup
Added: Mar 31, 2025
Changed: Sep 8
Last Checked: Sep 9 at 5:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wright Real Estate, LLC
Investment Insights
Based on property information with market context.
Kensington Quarters is a five-unit multifamily building at 531 East Indiana Avenue. Four of the five units are currently occupied, with the leases described as month-to-month, and the fifth unit is available while tenants are being interviewed. The unit mix includes two studio units, two one-bedroom, one-bath units, and one two-bedroom, one-bath unit.
The property is in the Heart of Kensington, positioned near Kensington Avenue, Lehigh Avenue, and E. Allegheny Avenue, with access to nearby public transportation options. The listing also notes easy parking and proximity to trolley and bus stops, and it states the Philadelphia International Airport is less than 10 miles.
Additional context from the listing includes that the property is within a Qualified Opportunity Zone and that there are major development projects in the surrounding area. Financial information, including pro-forma and other analysis, is available for review.
The property is in the Heart of Kensington, positioned near Kensington Avenue, Lehigh Avenue, and E. Allegheny Avenue, with access to nearby public transportation options. The listing also notes easy parking and proximity to trolley and bus stops, and it states the Philadelphia International Airport is less than 10 miles.
Additional context from the listing includes that the property is within a Qualified Opportunity Zone and that there are major development projects in the surrounding area. Financial information, including pro-forma and other analysis, is available for review.
Key Highlights
- 5‑unit building with current monthly rental income of $3,650; 4 of 5 units occupied
- Month‑to‑month leases in place for occupied units, with the fifth unit available while tenants are being interviewed
- Unit mix and rents: two studios ($600/mo and $750/mo), two 1BR/1BA ($600/mo and $700/mo), and one 2BR/1BA ($950/mo)
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit building with four occupied month-to-month leases and a leasing opportunity for the fifth unit.
Where is this apartment building located?
The property is located at 531 E Indiana Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 5‑unit building with current monthly rental income of $3,650; 4 of 5 units occupied; Month‑to‑month leases in place for occupied units, with the fifth unit available while tenants are being interviewed; Unit mix and rents: two studios ($600/mo and $750/mo), two 1BR/1BA ($600/mo and $700/mo), and one 2BR/1BA ($950/mo)
