Description

We’ve identified a strategic “Land-Bank” opportunity in the Kensington/Harrowgate pocket. 3066 N Lee St is a 637 sqft vacant lot zoned RSA5, perfectly positioned for an investor looking to park capital in the path of progress. As the “Fishtown-to-Kensington” development wave continues its northward push toward Allegheny Ave, vacant infill lots like this are becoming the go-to play for pioneers looking to secure a foothold before the next cycle of vertical construction begins.

Specs: Vacant Land | 637 SQFT (Lot) | Zoning: RSA5 (Residential) | Dimensions: 14′ x 46′

💰 The Money & ARV:
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Land Value (As-Is): $18,000 – $22,000 (Based on local trades)

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Strategy: Land-Bank for appreciation OR Build-to-Rent (BTR)

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Estimated Vertical Build: $150,000 (3-Story Infill)

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Realistic Exit (Future): $245,000+ (Based on local infill velocity)

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The Spread: Buying at today’s land prices allows you to “own the dirt” at a cost-basis that will be unattainable once the 3000-block sees its first major vertical project.

🚀 Why this deal? This is a “Pioneer Play.” While the block is currently dominated by classic renovations, the “New Construction” line has already crossed Allegheny Ave just two blocks away. By securing this lot at under $20k, you are land-banking an asset in a zip code that has seen consistent double-digit appreciation. Whether you hold it for 24 months to sell to a developer or pull permits now for a high-yield Build-to-Rent project, the entry-level price point makes this a low-risk addition to any Philly portfolio.