Mixed-Use Income
For Sale
$499,900
3258 Wellington Street, Philadelphia, PA 19149
Property combines one commercial unit with two 2-bedroom apartments, offered for sale AS IS.
Property Size2,204 SF
Price / SF$226.81
Days on Market166
Property Features for 3258 Wellington Street
General Information
Standard status
Active
Size
2,204 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,940
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1950
Listing Agency:
Legacy Landmark Realty LLC
Listed By:
Gaofeng Chen · License #RS344394
(267) 616-2774
Source:
Compass
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 22 at 4:24PM
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 Legacy Landmark Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes one commercial unit and two separate 2-bedroom apartments. It is being sold “AS IS,” and the owner has rarely lived in the property.
The property is described as very centrally located, with two supermarkets nearby and close proximity to schools.
As configured, the building provides both commercial and residential income components under one ownership, with the residential portion consisting of two 2-bedroom units.
The property is described as very centrally located, with two supermarkets nearby and close proximity to schools.
As configured, the building provides both commercial and residential income components under one ownership, with the residential portion consisting of two 2-bedroom units.
Key Highlights
- Includes 1 commercial unit and 2 separate 2‑bedroom apartments
- Year built: 1950
- Offered for sale "AS IS"
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,385
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$627,700
$627.7K
Cap Rate 7%
$448,357
$448.4K
Cap Rate 9%
$348,722
$348.7K
Market Conditions
NOI Build-Up for 2,204 SF
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.
Gross rent
$46.3K $21.00/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$44.8K $20.34/SF
− OpEx
−$13.5K −$6.10/SF
NOI
$31.4K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$627,700
Cap Rate 7%
$448,357
Cap Rate 9%
$348,722
Alternative Uses
Best Use
Apartment 5plus
$4.22M
$3.69M – $4.92M
NOI $295,394 @ 7.0% cap · market cap 59.09%
Second Best
Multifamily LT 5
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 6.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Property combines one commercial unit with two 2-bedroom apartments, offered for sale AS IS.
Where is this duplex located?
The property is located at 3258 Wellington Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Includes 1 commercial unit and 2 separate 2‑bedroom apartments; Year built: 1950; Offered for sale "AS IS"
