Six-Unit Rooming House
For Sale
$399,900
1844 N 16TH Street, Philadelphia, PA 19121
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,784 SF
Lot Size0.04 Acres
Price / SF$143.64
Days on Market49
Property Features for 1844 N 16TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,784 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6245
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
1
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Realty Devon-Wayne
(610) 647-8300
Listed By:
Michael Coleman
(484) 942-6266
Added: Jun 17
Changed: Jun 19
Last Checked: Aug 4 at 9:06PM
MLS# PAPH2637526
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.
The property operates as a legal six-unit rooming house and is currently configured as a 6-bedroom, 2.5-bath rental. It is fully leased through July 2027. Seller-provided underwriting also cites $4,200 per month in rental income and a gross annual income of $50,400.
A key consideration is the property’s grandfathered zoning rights. The building is described as a 6-unit property “by right,” and the zoning designation is positioned to support future value-add considerations subject to buyer due diligence. The listing also notes an investor alert for all showings, requiring 24-hour notice.
From an occupancy standpoint, the current lease structure supports stability for an owner seeking in-place rental operations. The listing further describes the location as being steps from Temple University’s main campus and within the campus patrol zone, aligning the property with off-campus housing demand for renters associated with the university.
A key consideration is the property’s grandfathered zoning rights. The building is described as a 6-unit property “by right,” and the zoning designation is positioned to support future value-add considerations subject to buyer due diligence. The listing also notes an investor alert for all showings, requiring 24-hour notice.
From an occupancy standpoint, the current lease structure supports stability for an owner seeking in-place rental operations. The listing further describes the location as being steps from Temple University’s main campus and within the campus patrol zone, aligning the property with off-campus housing demand for renters associated with the university.
Key Highlights
- Currently operating as a legal six‑unit rooming house with grandfathered zoning rights
- Income of $4,200/month ($50,400 gross annual income) with tenants fully leased through July 2027
- Nearly 9% cap rate (as stated in the listing remarks)
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Legal six-unit rooming house currently leased through July 2027 with a 24-hour showing notice requirement.
Where is this apartment building located?
The property is located at 1844 N 16TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Currently operating as a legal six‑unit rooming house with grandfathered zoning rights; Income of $4,200/month ($50,400 gross annual income) with tenants fully leased through July 2027; Nearly 9% cap rate (as stated in the listing remarks)
