real estate in pennsylvania
Jonathan E FrancoisPro Member
Member since 2020 · 19 posts · 4 votesWould anyone know about Upper Kensington in Pennsylvania?. Is it being gentrified now, or is it really bad?. The advantage is, it is close to big institutions such as an hospital, a university but at the same time drugs dealing are frequent. Would someone have any idea? Thank you
Hey @Jonathan E Francois, upper Kensington is not a typical term that is used, but pretty much the beginning of Kensington is Frankfort Ave, which runs NE to SW and Leigh. Where you're starting to see gentrification is along the blocks just north of Frankfort like Orleans and Birch. There have been 8 new build permits pulled in that area within the last year by big developers like V2 properties. There are plenty of new builds to the SW of Orleans and Birch, and its evident that the money is coming up from port richmond and east kensington.
I also agree with @Eric Greenberg if you travel any further north you in the drug capital of philly, specifically McPherson Square, I wouldn't travel up that way, just take my word for it.
Dan Powers - Real Estate Agent
Could you give some details on the borders of 'Upper Kensington'?
If you mean north of Lehigh, then yes there is plenty of drug activity. With that being said there is a ton of action happening that pushing north. But the area is vast and for example being on the east side of Kensington Ave is very different then the west side.
Hey @Jonathan E Francois, upper Kensington is not a typical term that is used, but pretty much the beginning of Kensington is Frankfort Ave, which runs NE to SW and Leigh. Where you're starting to see gentrification is along the blocks just north of Frankfort like Orleans and Birch. There have been 8 new build permits pulled in that area within the last year by big developers like V2 properties. There are plenty of new builds to the SW of Orleans and Birch, and its evident that the money is coming up from port richmond and east kensington.
I also agree with @Eric Greenberg if you travel any further north you in the drug capital of philly, specifically McPherson Square, I wouldn't travel up that way, just take my word for it.
Dan Powers - Real Estate Agent
Hey @Jonathan E Francois, upper Kensington is not a typical term that is used, but pretty much the beginning of Kensington is Frankfort Ave, which runs NE to SW and Leigh. Where you're starting to see gentrification is along the blocks just north of Frankfort like Orleans and Birch. There have been 8 new build permits pulled in that area within the last year by big developers like V2 properties. There are plenty of new builds to the SW of Orleans and Birch, and its evident that the money is coming up from port richmond and east kensington.
I also agree with @Eric Greenberg if you travel any further north you in the drug capital of philly, specifically McPherson Square, I wouldn't travel up that way, just take my word for it.
Dan Powers - Real Estate Agent
*Frankford and *Lehigh, you're killing me here.
Would anyone know about Upper Kensington in Pennsylvania?. Is it being gentrified now, or is it really bad?. The advantage is, it is close to big institutions such as an hospital, a university but at the same time drugs dealing are frequent. Would someone have any idea? Thank you
I'm assuming you mean West Kensington, right by Temple U Hospital - Episcopal Campus, just South of Lehigh? If so, I'm building several new construction multifamily projects there and just on my block there is a 17-unit and a 21-unit being built in addition to several other quads, triplexes and duplexes. The area is exploding. North of Lehigh is still very rough and would be a much longer term play.
@Troy Sheets Oh man hahaha, just one of those sad days
This is making my day. North of Lehigh I would just call "Kensington" and I wouldn't go north of Lehigh. It's literally "the other side of the tracks" and is a rougher area separated by a large physical barrier that runs east and west (elevated train tracks). If you go really far east toward I-95, some development is creeping over which makes sense given the stability offered by the well kept Polish community. Some people getting priced out of the Fishtown market (see below) might be tempted to creep North past Lehigh to snag some of the new construction at a discount.
South of Lehigh it depends on what side of Front street you're on. If you're south of Lehigh and West of Front street, I'd call that "West Kensington" or "Norris Sq". The area is booming and looks rough (still some gunfire but no needles) but lots of development in the area and good rent rates. The smart money is onto it though and it's getting tougher to find a deal. If you go too far west of Front street then you'll run into Temple University which is an entirely different market. There is also a "weird" patch of government housing between Frotn St and Temple University that will not move for a while (weird feel / public / private agreements tie up inventory / poor curb appeal - just not a fun place to be).
East of Front street (under the L) but south of Lehigh, I generically call that Fishtown. That's a mature market as new development has reached Lehigh. You will find a sizable price delta between Fishtown and "West Kensington" even for similar builds. Come on over and help build us out!
Everything I am talking about is north of Girard.
***I live in the area***
This is making my day. North of Lehigh I would just call "Kensington" and I wouldn't go north of Lehigh. It's literally "the other side of the tracks" and is a rougher area separated by a large physical barrier that runs east and west (elevated train tracks). If you go really far east toward I-95, some development is creeping over which makes sense given the stability offered by the well kept Polish community. Some people getting priced out of the Fishtown market (see below) might be tempted to creep North past Lehigh to snag some of the new construction at a discount.
South of Lehigh it depends on what side of Front street you're on. If you're south of Lehigh and West of Front street, I'd call that "West Kensington" or "Norris Sq". The area is booming and looks rough (still some gunfire but no needles) but lots of development in the area and good rent rates. The smart money is onto it though and it's getting tougher to find a deal. If you go too far west of Front street then you'll run into Temple University which is an entirely different market. There is also a "weird" patch of government housing between Frotn St and Temple University that will not move for a while (weird feel / public / private agreements tie up inventory / poor curb appeal - just not a fun place to be).
East of Front street (under the L) but south of Lehigh, I generically call that Fishtown. That's a mature market as new development has reached Lehigh. You will find a sizable price delta between Fishtown and "West Kensington" even for similar builds. Come on over and help build us out!
Everything I am talking about is north of Girard.
***I live in the area***
There is alot of money, people, and 'trendy' buisnesses north of the wall now. I dont think I'd recommend someone from out of state/area being part of the early wave though.
@Eric Greenberg there are still gems the further east you go, specifically in Port Richmond. If you consider the activity that's happening on American, Richmond St. could be pretty attractive for buy and holds or rentals because it's adjacent to Fishtowns development, has easy access to I-95, the bridge, and the Aramingo shopping corridor (although still a bit rough). It has all of the potential of the Brewerytown wave.
Yeah, if you're from out of state and have some cash to throw around (you're at the stage where you're mature and are diversifying) then the game would be to just stay south of Lehigh and be content with a decent multi-year investment that won't have a ton of equity or cash flow right off the bat. What you will get is a solid property in an "A" market with high quality tenants and a new build with minimal problems (unless you pick a builder that cut a lot of corners). Rents and equity will rise over the next 2-4 years and you''ll be rewarded for your patience. If you're from out of state then you'll need someone local (no not just a realtor) and more than a weekend trip or two - either that or you'll just need to move here.
There's actually a solid case for that and an interesting play if you're a "laptop professional" and can arbitrage your New York income working remotely. If you're out of state and trying to fight block-to-block with a local and arn't using a really good local team then I can't see it going well but good luck. Philly is a city of neighborhoods and each has its idiosyncrasies.
@Eric Greenberg there are still gems the further east you go, specifically in Port Richmond. If you consider the activity that's happening on American, Richmond St. could be pretty attractive for buy and holds or rentals because it's adjacent to Fishtowns development, has easy access to I-95, the bridge, and the Aramingo shopping corridor (although still a bit rough). It has all of the potential of the Brewerytown wave.
I agree that Port Richmond is a much different area then Kensington for an out of state investor.