Four-Unit Student Housing
New
For Sale
$845,357
1854 N 16TH STREET, Philadelphia, PA 19121
Fully occupied and fully leased through July 2027 with scheduled rent growth beginning August 2026.
Days on Market3
Property Features for 1854 N 16TH STREET
General Information
Standard status
Active
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Gross Income
$71,700
Building Details
Building Size
3,357 SF
Year Built
1915
Stories
4
Tenancy
Multi
Listing Agency:
Keller Williams Realty Devon-Wayne
(267) 614-3971
Listed By:
Danielle Redenbaugh · License #RS371661
(267) 614-3971
Source:
Patmckennarealtors
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 31 at 11:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
Four-unit quadplex at 1854 N 16th Street, Philadelphia, built in 1915, configured as student housing across four full floors. The property totals 11 bedrooms and 7 bathrooms with unit mix of one 2-bedroom/1-bath lower-level unit and three additional 3-bedroom/2-bath units on the first, second, and third floors.
The property is currently fully occupied and fully leased through July 2027. Leases are in place with scheduled rental income growth beginning August 2026, when annual gross rental income is projected to increase by 10%.
Located within the Temple University Patrol Zone and just steps from Temple University’s main campus, the student-focused unit mix and in-place lease timeline support a straightforward, resident-centric ownership structure for an investor seeking stable occupancy through the current lease term.
The property is currently fully occupied and fully leased through July 2027. Leases are in place with scheduled rental income growth beginning August 2026, when annual gross rental income is projected to increase by 10%.
Located within the Temple University Patrol Zone and just steps from Temple University’s main campus, the student-focused unit mix and in-place lease timeline support a straightforward, resident-centric ownership structure for an investor seeking stable occupancy through the current lease term.
Key Highlights
- Four‑unit quadplex configured as student housing
- 11 bedrooms and 7 bathrooms across four full floors
- Fully occupied and fully leased through July 2027
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 | $86.6k | $25.80 |
| − Vacancy | −$4.8k | −$1.42 |
| EGI | $81.8k | $24.38 |
| − OpEx | −$24.6k | −$7.31 |
| NOI | $57.3k | $17.06 |
3,357 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$818.4K
$716.1K – $954.8K
NOI $57,287 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$754.3K
$660.1K – $880.1K
NOI $52,804 @ 7.0% cap · market cap 6.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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?
Quadplex - Fully occupied and fully leased through July 2027 with scheduled rent growth beginning August 2026.
Where is this quadplex located?
The property is located at 1854 N 16TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $845,357.
What are key features of this property?
This property features: Four‑unit quadplex configured as student housing; 11 bedrooms and 7 bathrooms across four full floors; Fully occupied and fully leased through July 2027
