Kensington Portfolio Sale 3402 Tampa St

Package Deal in Kensington!
This is a portfolio sale featuring two tenant-occupied properties being sold AS-IS for $180,000. Both tenants are on month-to-month leases, giving the buyer flexibility to either keep the tenants for steady rental income or deliver the properties vacant at settlement. This package includes 3402 Tampa St (2-bed, 1-bath, 728 sqft) and 257 E Elkhart St (3-bed, 1-bath, 924 sqft). Together, they generate $18,600 annually, with tenants covering all utilities. "3402 Tampa St": $8,400/year, "257 E Elkhart St": $10,200/year. Both tenants have a reliable payment history, offering immediate cash flow with room for rent adjustments to align with market rates.
Situated in the Kensington-Port Richmond area, these properties benefit from their proximity to grocery stores, public transportation, and major highways such as I-95 and Aramingo Ave. The surrounding neighborhood is gaining momentum, driven by development and growth spilling over from popular areas like Fishtown and Northern Liberties. This creates strong demand for rentals, ensuring a stable tenant pool and future appreciation potential. The homes are located within walking distance of restaurants, markets, and local shops, adding to the area’s appeal.
Both properties are currently rented below market value, offering an excellent value-add opportunity for investors. Options include raising rents, repositioning the properties, or enrolling in Section 8 housing programs. This package provides long-term cash flow with minimal upfront effort and offers a pathway to higher returns through strategic updates. Whether you’re looking to hold and rent or add value through improvements, this portfolio is a solid investment in a promising Philadelphia neighborhood.