Six-Unit Rooming House Investment

1844 N 16TH Street, Philadelphia, PA 19121

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New

For Sale

$399,900

MULTI_FAMILY - Other - PHILADELPHIA, PA

Property size:

2,784 SF

Lot size:

0.04 Acres

Price / SF:

$143/SF

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)
Built in 1915 with masonry construction; forced air heating and central air cooling
On‑street parking
Located steps from Temple University’s main campus and within the campus patrol zone

We can help!

Listing Contact

Michael Coleman

For Sale

$399,900

MULTI_FAMILY - Other - PHILADELPHIA, PA

Property size:

2,784 SF

Lot size:

0.04 Acres

Price / SF:

$143/SF

Added:: Jun 17, 2026
Days on Market:: 4
Last Refresh:: Jun 20 at 5:06 am

Property Features for 1844 N 16TH Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Parking features: On Street
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

We can help!

Listing Contact

Michael Coleman

Listing agent Michael Coleman

Listing office Keller Williams Realty Devon-Wayne 744 W Lancaster Avenue unit: 125, Wayne, PA

Listing date Jun 17, 2026

MLS# PAPH2637526 Listing URL

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)
Built in 1915 with masonry construction; forced air heating and central air cooling
On‑street parking
Located steps from Temple University’s main campus and within the campus patrol zone

Overview

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.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Philadelphia
County: Delaware
State: Pennsylvania
Longitude: -75.1608276
Latitude: 39.9817581

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For sale
Apartment buildings
PA
Philadelphia
19121
1844 N 16TH Street

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)

1844 N 16TH Street, Philadelphia, PA 19121

MULTI_FAMILY - Other - PHILADELPHIA, PA

Property Features for 1844 N 16TH Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Freestanding Single-Story Retail Building

Freestanding Office Building on Corner

Restaurant Opportunity in Philadelphia, PA

Medical Office Building with Parking

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Industrial Garage-Style Property Package

Mixed-Use Brownstone with Storefront

Prime Philadelphia Retail Opportunity

Mixed-Use Building with Two-Level Layout

Turnkey Three-Story Building with Elevator

Turnkey Triplex with Tax Abatement

Newly Constructed Duplex Investment

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