Three-Unit Multifamily
For Sale
$625,000
3535 N 16TH STREET, Philadelphia, PA 19140
Fully leased rental property with modern interiors, contemporary appliances, and full basements in lower-level units.
Days on Market123
Property Features for 3535 N 16TH STREET
General Information
Standard status
Active
Property subtype
Triplex
Occupancy
100%
Financials
Asking Price
$625,000
Gross Income
$50,400
Opportunity Zone
Yes
Building Details
Building Size
2,940 SF
Year Built
2017
Buildings
1
Construction
modular
Tenancy
Multi
Listing Agency:
KW Empower
(609) 226-9287
Listed By:
Martin Rodriguez · License #RS348037
(609) 226-9287
Source:
Patmckennarealtors
Added: Apr 1
Changed: Jul 31
Last Checked: Jul 31 at 3:51PM
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 fully leased triplex includes three spacious units, each with two bedrooms and two bathrooms, for six bedrooms total. Lower-level units include full basements that provide additional space. Built in 2017 with modular construction, the property features modern interiors, high ceilings, and contemporary appliances. Dedicated management and leasing support are in place for day-to-day operations.
Located at 3535 N. 16th Street in Philadelphia’s North Broad Corridor, the property is steps from Temple University Hospital and approximately five minutes from the SEPTA Broad Street subway, with direct access to Center City. The property is situated in a Qualified Opportunity Zone and has nine years remaining on a ten-year tax abatement. Nearby redevelopment projects include North Philadelphia Station, Uptown Theater, and the Beury Building.
Located at 3535 N. 16th Street in Philadelphia’s North Broad Corridor, the property is steps from Temple University Hospital and approximately five minutes from the SEPTA Broad Street subway, with direct access to Center City. The property is situated in a Qualified Opportunity Zone and has nine years remaining on a ten-year tax abatement. Nearby redevelopment projects include North Philadelphia Station, Uptown Theater, and the Beury Building.
Key Highlights
- Three fully leased units, each with 2 beds and 2 baths
- Built in 2017 using modular construction
- Lower‑level units include full basements
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 | $75.9k | $25.80 |
| − Vacancy | −$4.2k | −$1.42 |
| EGI | $71.7k | $24.38 |
| − OpEx | −$21.5k | −$7.31 |
| NOI | $50.2k | $17.06 |
2,940 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$716.7K
$627.1K – $836.2K
NOI $50,171 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$660.6K
$578.1K – $770.8K
NOI $46,245 @ 7.0% cap · market cap 7.40%
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
1,365
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?
Triplex - Fully leased rental property with modern interiors, contemporary appliances, and full basements in lower-level units.
Where is this triplex located?
The property is located at 3535 N 16TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three fully leased units, each with 2 beds and 2 baths; Built in 2017 using modular construction; Lower‑level units include full basements
