Turnkey Multifamily Property
For Sale
$587,500
3535 N 16TH STREET, Philadelphia, PA 19140
Two fully leased multifamily buildings built in 2017, each with three 2-bed/2-bath units and full basements.
Property SizeContact for details
Days on Market166
Property Features for 3535 N 16TH STREET
General Information
Standard status
Active
Property subtype
Triplex
Occupancy
100%
Financials
Cap Rate
7%
Opportunity Zone
Yes
Additional Details
Multifamily Units
6
Amenities
Central
Central A/C
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
KW Empower
Listed By:
Martin Rodriguez · License #RS348037
(609) 226-9287
Source:
Kw
Added: Mar 27
Changed: Sep 7
Last Checked: Sep 7 at 6:59PM
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 KW Empower
Investment Insights
Based on property information with market context.
This for-sale package includes two turnkey multifamily buildings, with each property featuring three residential units. Each unit is described as having 2 bedrooms and 2 bathrooms, and the lower-level units include full basements. The buildings were built in 2017 using modular construction, with modern interiors, high ceilings, and contemporary appliances.
The seller notes remaining full tax abatement benefits, with 9 years left on an abatement program that runs for ten years. The remarks state the taxes are $1,875 per year and that the abatement was not applied when the building was originally bought; the seller’s expediter worked with the city to apply the abatement last year, with the next nine years remaining.
3535–3537 N. 16th St. is offered as an immediately available bundle, with the properties described as fully occupied. Management and leasing are also noted in the materials as part of the offering.
The seller notes remaining full tax abatement benefits, with 9 years left on an abatement program that runs for ten years. The remarks state the taxes are $1,875 per year and that the abatement was not applied when the building was originally bought; the seller’s expediter worked with the city to apply the abatement last year, with the next nine years remaining.
3535–3537 N. 16th St. is offered as an immediately available bundle, with the properties described as fully occupied. Management and leasing are also noted in the materials as part of the offering.
Key Highlights
- Two fully leased multifamily buildings in a package: 3535 N. 16th St. and 3537 N. 16th St.
- Each building built in 2017 and features three 2‑bed/2‑bath units (6 total units across both buildings).
- Rental rate noted at $1,400 per unit per month for the 3 units in each building (per package notes).
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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 - Two fully leased multifamily buildings built in 2017, each with three 2-bed/2-bath units and full basements.
Where is this apartment building located?
The property is located at 3535 N 16TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $587,500.
What are key features of this property?
This property features: Two fully leased multifamily buildings in a package: 3535 N. 16th St. and 3537 N. 16th St.; Each building built in 2017 and features three 2‑bed/2‑bath units (6 total units across both buildings).; Rental rate noted at $1,400 per unit per month for the 3 units in each building (per package notes).
