1842 N 16th St,PHILADELPHIA, PA 19121
PHILADELPHIA, PA 19121
Description
Investor Alert! 24-hour notice required for all showings. Currently operating as a 7-bedroom, 2.5-bath student rental, the property generates $4,900 per month ($58,800 gross annual income) and is fully leased through July 2027, providing investors with stable, predictable returns from day one. With an NOI of $45,087.41, this property is offered at nearly a 10% cap rate - an exceptional return profile for a fully leased, stabilized asset in this market. This property is a legal four-unit rooming house with grandfathered zoning rights, making it a 4-unit building by right. This designation creates significant future value-add potential for the next owner, subject to buyer due diligence. The property benefits from its premier location just steps from Temple University's main campus, positioned in the heart of the university's most desirable off-campus housing district and within the campus patrol zone. The property also features a private roof deck, one of the most sought-after amenities in the Temple University rental market. Roof decks continue to command strong tenant interest and help differentiate properties from competing inventory, supporting long-term rentability and occupancy. This property is being marketed individually and as a package that includes the properties with the following MLS numbers: PAPH2665118, PAPH2665128, PAPH2665158, PAPH2665168, PAPH2665172, PAPH2665174, PAPH2665178, PAPH2665182, PAPH2665180, PAPH2665184, PAPH2665188, PAPH2665192, PAPH2665196, PAPH2665198 and PAPH2665206
Details
| MLS # | PAPH2665174 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1915 |
| Days On Site | 26 |
| Listing Provided By | BHHS Fox & Roach-Center City Walnut | Danielle Redenbaugh |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,784 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | RM1 |
| Acreage | 0.04 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Forced Air |
Exterior
| Construction Materials | Masonry |
|---|---|
| Foundation Details | Block |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 4186 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19121 |
| Area | 19121 (19121) |
| Community Name | TEMPLE UNIVERSITY |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in TEMPLE UNIVERSITY) | |
Price: $499,900 low | high Med: $199,900 sqft: 2,784 low | high Med: 1,216 $ / sqft: $180 low | high Med: $164 On site: 26 low | high Med: 38 | |
Market Activity 19121
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19121 |
| Area | 19121 (19121) |
| Community Name | TEMPLE UNIVERSITY |
| School District | PHILADELPHIA CITY |
| Listing VS Median (in TEMPLE UNIVERSITY) | |
Price: $499,900 low | high Med: $199,900 sqft: 2,784 low | high Med: 1,216 $ / sqft: $180 low | high Med: $164 On site: 26 low | high Med: 38 | |
