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    Renovated Duplex in Developing Corridor

    2233 N 16TH Street Philadelphia, PA 19132

    2233 N 16TH Street, Philadelphia, PA, 19132
    $449,000
    For Sale
    Claim this Listing
    $449,000

    MULTI_FAMILY - Other - PHILADELPHIA, PA

    Property Size1,964 SF
    Lot Size0.02 Acres
    Price / SF$228.62
    AddedMay 1
    Days on Market77
    Last RefreshJul 16 at 8:06 am

    Property Features for 2233 N 16TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Appliances
    Refrigerator, Stove, Microwave, Washer, Dryer
    Standard status
    Active
    Size
    1,964 SF
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1026

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Ductless

    Building Details

    Year built
    1915
    Number of units
    2
    Building materials
    Masonry
    Architectural style
    Other

    Listing agent Nestor F Colon License #RM422846

    Listing office Eliakim Realty Inc 417 Cheltenham Avenue unit: 2, Elkins Park, PA

    Listing date May 1, 2026

    MLS# PAPH2615192 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    Located in a rapidly developing corridor of Philadelphia, PA, the property at 2233 N. 16th St is a fully renovated legal duplex. The property has been upgraded with new electrical and plumbing systems, as well as energy-efficient mini split systems for heating and cooling. Unit 1 features a bi-level layout with 3 bedrooms and 3 full bathrooms, with exclusive access to the basement and rear yard. The basement provides additional storage and a dedicated laundry area. The layout can function as either a 3-bedroom unit or a 2-bedroom unit with a living room. Unit 2 spans the 2nd and 3rd floors and includes 3 bedrooms and 3 full bathrooms. The unit has a modern kitchen with quartz countertops and shaker cabinetry, as well as a laundry closet with a washer and dryer. The upper level offers two bedrooms, each with its own bathroom. The property is positioned to produce income, and opportunities like this are limited.

    Key Highlights

    • Fully renovated legal duplex in a rapidly developing area
    • Turnkey asset with new electrical, plumbing, and energy‑efficient mini‑split systems
    • Each unit features modern finishes including shaker cabinetry and quartz countertops

    Local Financial Insights For Multifamily LT 5

    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 $50.7k $25.80
    − Vacancy −$2.8k −$1.42
    EGI $47.9k $24.38
    − OpEx −$14.4k −$7.31
    NOI $33.5k $17.06
    1,964 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $478.8K
    $418.9K – $558.6K (±1% cap)
    NOI $33,515 @ 7.0% cap · market cap 7.46%
    Second Best
    Apartment 5plus
    $441.3K
    $386.2K – $514.9K (±1% cap)
    NOI $30,893 @ 7.0% cap · market cap 6.88%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Dental Office Electrical Service Accounting Firm (Bike/Boat/Book/etc) Store Acupuncture (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Carpet & Flooring Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Fully renovated duplex with modern amenities in Philadelphia, PA.
    Where is this duplex located?
    The property is located at 2233 N 16TH Street Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Fully renovated legal duplex in a rapidly developing area; Turnkey asset with new electrical, plumbing, and energy‑efficient mini‑split systems; Each unit features modern finishes including shaker cabinetry and quartz countertops
    Contact an agent
    (215) 200-1089
    We can help!
    Contact an agent
    Nestor F Colon
    Real Estate License ID: RM422846
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