Legal Triplex with In-Unit
For Sale
$825,000
417 S 16th St, Philadelphia, PA 19146
Three separate apartments include a vacant first-floor residence and two leased upper-level units.
Property Size2,472 SF
Price / SF$333.74
Days on Market51
Property Features for 417 S 16th St
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
South Philadelphia
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1BA bi-level, 1 x 1BR/1BA
Multifamily Units
3
Amenities
in-unit laundry
Building Details
Year Built
1800
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Elizabeth Convery
(215) 495-5040
Source:
Upgradebymichaud
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 28 at 12:55PM
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 Compass Pennsylvania, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 417 S. 16th Street, this legal triplex contains 2,472 square feet and three separate residences. The first-floor apartment offers two bedrooms and one bathroom and is currently vacant. A bi-level second-floor apartment includes two bedrooms and one bathroom, while the third-floor apartment provides one bedroom and one bathroom. Each unit has in-unit laundry. The property was built in 1800.
The upper apartments feature hardwood floors, natural light, and well-maintained living areas. The first-floor residence has been recently painted and is ready for occupancy, leasing, or further improvement. The second-floor lease runs through December 2026, and the third-floor lease runs through February 2027. The property is in Center City near Rittenhouse Square, restaurants, shops, parks, and daily conveniences.
The upper apartments feature hardwood floors, natural light, and well-maintained living areas. The first-floor residence has been recently painted and is ready for occupancy, leasing, or further improvement. The second-floor lease runs through December 2026, and the third-floor lease runs through February 2027. The property is in Center City near Rittenhouse Square, restaurants, shops, parks, and daily conveniences.
Key Highlights
- Legal triplex with three separate residences
- 2,472 square feet with a 2‑bedroom, 1‑bath first‑floor unit
- Bi‑level 2‑bedroom, 1‑bath second‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,184
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,680
$843.7K
Cap Rate 7%
$602,629
$602.6K
Cap Rate 9%
$468,711
$468.7K
Market Conditions
NOI Build-Up for 2,472 SF
Gross rent
$63.8K $25.80/SF
− Vacancy
−$3.5K −$1.42/SF
EGI
$60.3K $24.38/SF
− OpEx
−$18.1K −$7.31/SF
NOI
$42.2K $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%
$843,680
Cap Rate 7%
$602,629
Cap Rate 9%
$468,711
Alternative Uses
Best Use
Multifamily LT 5
$602.6K
$527.3K – $703.1K
NOI $42,184 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$555.5K
$486.0K – $648.1K
NOI $38,883 @ 7.0% cap · market cap 4.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
19,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments include a vacant first-floor residence and two leased upper-level units.
Where is this triplex located?
The property is located at 417 S 16th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Legal triplex with three separate residences; 2,472 square feet with a 2‑bedroom, 1‑bath first‑floor unit; Bi‑level 2‑bedroom, 1‑bath second‑floor apartment
