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Listed by Mike Coleman • Keller Williams Realty Devon-Wayne
$399,900
Est. payment /mo
1,307 Sqft Lot
Under Contract
1844 N 16TH ST Philadelphia, PA 19121
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Additional details
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Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Under Contract
Purchase Type For Sale
Subdivision Temple University
MLS Listing ID PAPH2637534
Year Built 1915
Annual Tax Amount $6,245
Tax Year 2026
Lot Size 1,307 Sqft
Acres 0.03
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Investor Alert! 24-hour notice required for all showings. Currently operating as a 6-bedroom, 2.5 bath rental, the property generates $4,200 per month ($50,400 gross annual income) and is fully leased through July 2027, providing investors with stable, predictable returns from day one. Offering a nearly 9% cap rate.
This property is that it is a legal six-unit rooming house with grandfathered zoning rights, making it a 6-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 campus patrol zone.
This property is being marketed individually and as a package that includes the properties with the following MLS numbers: PAPH2631578, PAPH2631596, PAPH2632718, PAPH2632744, PAPH2635058, PAPH2635078 and PAPH2637494
This property is that it is a legal six-unit rooming house with grandfathered zoning rights, making it a 6-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 campus patrol zone.
This property is being marketed individually and as a package that includes the properties with the following MLS numbers: PAPH2631578, PAPH2631596, PAPH2632718, PAPH2632744, PAPH2635058, PAPH2635078 and PAPH2637494
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water 60+ Gallon Tank
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Private Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 321098401
Ownership Fee Simple
Special Listing Condition Standard
