Remodeled Residential Income Property with
For Sale
$339,900
1630 WELSH ROAD Unit 40E, Philadelphia, PA 19115
Corner-unit condo with updated finishes, vaulted ceilings, custom storage, and access to a community pool.
Property Size1,752 SF
Days on Market131
Property Features for 1630 WELSH ROAD Unit 40E
General Information
Standard status
Active
Size
1,752 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,218
Amenities
community pool
Building Details
Building Size
1,752 SF
Year Built
2007
Listing Agency:
Elite Realty Group Unl. Inc.
(267) 767-8293
Listed By:
Ilya Vorobey · License #RS271316
(267) 767-8293
Source:
Lizclarkrealestate
Added: Mar 27
Changed: Aug 3
Last Checked: Aug 3 at 7:33AM
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 Elite Realty Group Unl. Inc.
Investment Insights
Based on property information with market context.
This second-floor corner condo, built in 2007, has been remodeled with fresh paint and laminate flooring across the main living areas. The kitchen includes quartz countertops, stainless steel appliances, and ample cabinetry, while updated tile finishes enhance the bathrooms. Custom closets provide organized storage throughout the residence.
A vaulted ceiling adds volume to the interior, and the loft expands the usable living area with a half bathroom. The private corner layout includes a separate entrance and brings additional natural light into the home. Residents also have access to a community pool.
A vaulted ceiling adds volume to the interior, and the loft expands the usable living area with a half bathroom. The private corner layout includes a separate entrance and brings additional natural light into the home. Residents also have access to a community pool.
Key Highlights
- Second‑floor corner condo with separate entrance
- Remodeled interior with fresh paint and laminate flooring
- Kitchen equipped with quartz countertops and stainless steel appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.2k | $30.36 |
| − Vacancy | −$3.1k | −$1.76 |
| EGI | $50.1k | $28.60 |
| − OpEx | −$22.5k | −$12.87 |
| NOI | $27.6k | $15.73 |
1,752 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,558 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$427.1K
$373.7K – $498.3K
NOI $29,898 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner-unit condo with updated finishes, vaulted ceilings, custom storage, and access to a community pool.
Where is this residential income property located?
The property is located at 1630 WELSH ROAD Unit 40E Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Second‑floor corner condo with separate entrance; Remodeled interior with fresh paint and laminate flooring; Kitchen equipped with quartz countertops and stainless steel appliances
