Modern Triplex Near Temple
For Sale
$587,500
3537 N 16TH ST, Philadelphia, PA 19140
Fully leased three-unit property with contemporary interiors, high ceilings, and full basements in select lower-level units.
Property Size2,940 SF
Price / SF$199.83
Days on Market212
Property Features for 3537 N 16TH ST
General Information
Standard status
Active
Size
2,940 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
7%
Average Monthly Rent
$1,400
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Additional Details
Multifamily Units
6
Building Details
Buildings
2
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Martin Rodriguez · License #RS348037
(609) 226-9287
Source:
Hostetterrealty
Added: Mar 27
Changed: Oct 13
Last Checked: Oct 23 at 6:52AM
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
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Investment Insights
Based on property information with market context.
Built in 2017, this 2,940-square-foot triplex contains three rental units, each configured with two bedrooms and two bathrooms. The property uses modular construction and includes contemporary appliances, high ceilings, and full basements in the lower-level units. It is fully leased and positioned as a multifamily rental asset within the RSA5 zoning district.
The property is located near Temple University Hospital and approximately five minutes from the SEPTA Broad Street subway, with direct access to Center City. It is also within a Qualified Opportunity Zone and near North Philadelphia Station, Uptown Theater, and the Beury Building. The surrounding tenant base includes more than 5,500 Temple University Hospital professionals, and the property information notes a tenant waitlist.
The property is located near Temple University Hospital and approximately five minutes from the SEPTA Broad Street subway, with direct access to Center City. It is also within a Qualified Opportunity Zone and near North Philadelphia Station, Uptown Theater, and the Beury Building. The surrounding tenant base includes more than 5,500 Temple University Hospital professionals, and the property information notes a tenant waitlist.
Key Highlights
- Three‑unit triplex with 2 bedrooms and 2 bathrooms per unit
- 2,940 SF multifamily property built in 2017
- Full basements in lower‑level units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,171
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,420
$1.0M
Cap Rate 7%
$716,729
$716.7K
Cap Rate 9%
$557,456
$557.5K
Market Conditions
NOI Build-Up for 2,940 SF
Gross rent
$75.9K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$71.7K $24.38/SF
− OpEx
−$21.5K −$7.31/SF
NOI
$50.2K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,420
Cap Rate 7%
$716,729
Cap Rate 9%
$557,456
Alternative Uses
Best Use
Multifamily LT 5
$716.7K
$627.1K – $836.2K
NOI $50,171 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$660.6K
$578.1K – $770.8K
NOI $46,245 @ 7.0% cap · market cap 7.87%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
6
Residential units
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit property with contemporary interiors, high ceilings, and full basements in select lower-level units.
Where is this triplex located?
The property is located at 3537 N 16TH ST 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: Three‑unit triplex with 2 bedrooms and 2 bathrooms per unit; 2,940 SF multifamily property built in 2017; Full basements in lower‑level units
