Residential Income Property with
For Sale
$220,000
2628 WELSH ROAD Unit 311, Philadelphia, PA 19152
Updated condominium residence with an enclosed balcony, renovated kitchen, refreshed baths, and in-unit laundry.
Property Size1,233 SF
Days on Market13
Property Features for 2628 WELSH ROAD Unit 311
General Information
Standard status
Active
Size
1,233 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,696
Building Details
Building Size
1,233 SF
Year Built
1965
Listing Agency:
Elite Realty Group Unl. Inc.
(267) 767-8293
Listed By:
Ilya Vorobey · License #RS271316
(267) 767-8293
Source:
Lizclarkrealestate
Added: Jul 24
Changed: Aug 2
Last Checked: Aug 5 at 4:20AM
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 condominium residence combines an open interior arrangement with several completed updates. Improvements include upgraded flooring, a renovated kitchen with contemporary finishes, and updated bathrooms. The living room includes a fireplace, while an enclosed balcony adds a separate area connected to the main living space. The floor plan also features a generously sized primary suite and in-unit washer and dryer. Built in 1965, the residence is positioned near the building elevator for convenient access.
Key Highlights
- Renovated kitchen with modern finishes
- Upgraded flooring and updated bathrooms
- Living room with fireplace
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 | $37.4k | $30.36 |
| − Vacancy | −$2.2k | −$1.76 |
| EGI | $35.3k | $28.60 |
| − OpEx | −$15.9k | −$12.87 |
| NOI | $19.4k | $15.73 |
1,233 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$277.1K
$242.4K – $323.2K
NOI $19,394 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$300.6K
$263.0K – $350.7K
NOI $21,041 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 19152, PA
35,911
Population
13,715
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
88%
High-School Grad
2.9 sq mi
ZIP Area
12,383
Density / Sq Mi
$57,966
Median Household Income
$40,428
Median Earnings
$1,236
Median Rent
$270,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with an enclosed balcony, renovated kitchen, refreshed baths, and in-unit laundry.
Where is this residential income property located?
The property is located at 2628 WELSH ROAD Unit 311 Philadelphia, PA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Renovated kitchen with modern finishes; Upgraded flooring and updated bathrooms; Living room with fireplace
