Renovated Duplex in Developing
For Sale
$449,000
2233 N 16TH Street, Philadelphia, PA 19132
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,964 SF
Lot Size0.02 Acres
Price / SF$228.62
Days on Market93
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
Subdivision
PHILADELPHIA (NORTH)
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
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 Agency:
Eliakim Realty Inc
(267) 626-2398
Listed By:
Nestor F Colon · License #RM422846
(215) 200-1089
Added: May 1
Changed: Jun 9
Last Checked: Aug 1 at 6:06PM
MLS# PAPH2615192
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
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
NOI $33,515 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$441.3K
$386.2K – $514.9K
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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?
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
