Three-Unit Triplex with Rooftop
651 N 16TH STREET, Philadelphia, PA 19130
For Sale
New
$1,199,000
Three leased residences offer updated kitchens and baths, outdoor areas, and garage parking in Philadelphia’s Fairmount area.
Property Size3,279 SF
Price / SF$365.66
Days on Market6
Property Features for 651 N 16TH STREET
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Gross Income
Multifamily Units
Amenities
private rear yard
Juliet balconies
rooftop deck
garage parking
Building Details
Year Built
Tenancy
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Nathan S Naness · License PA AB068470
(267) 847-9562
Source:
Cummingsrealtors
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:19PM
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.
This 1925 triplex contains three occupied residences with high ceilings, large windows, modern kitchens and baths, and updated interiors. The property totals 3,279 square feet and includes a private rear yard, two Juliet balconies, a rooftop deck with pilot house access, and garage parking. Tax abatement approval is in place.
The building is at 651 N. 16th Street in Philadelphia’s Fairmount area, near restaurants, cafes, neighborhood shops, museums, and cultural attractions. Each apartment is leased through summer 2027, providing current rental income.
The building is at 651 N. 16th Street in Philadelphia’s Fairmount area, near restaurants, cafes, neighborhood shops, museums, and cultural attractions. Each apartment is leased through summer 2027, providing current rental income.
Key Highlights
- Three occupied apartments, all leased through summer 2027
- 3,279‑square‑foot triplex built in 1925
- Rooftop deck with pilot house access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,956
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,119,120
$1.1M
Cap Rate 7%
$799,371
$799.4K
Cap Rate 9%
$621,733
$621.7K
Market Conditions
NOI Build-Up for 3,279 SF
Gross rent
$84.6K $25.80/SF
− Vacancy
−$4.7K −$1.42/SF
EGI
$79.9K $24.38/SF
− OpEx
−$24.0K −$7.31/SF
NOI
$56.0K $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%
$1,119,120
Cap Rate 7%
$799,371
Cap Rate 9%
$621,733
Alternative Uses
Best Use
Multifamily LT 5
$799.4K
$699.5K – $932.6K
NOI $55,956 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$736.8K
$644.7K – $859.6K
NOI $51,577 @ 7.0% cap · market cap 4.30%
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?
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,089
Businesses Nearby
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Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Philadelphia, PA
Properties on Market for Triplexes in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased residences offer updated kitchens and baths, outdoor areas, and garage parking in Philadelphia’s Fairmount area.
Where is this triplex located?
The property is located at 651 N 16TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three occupied apartments, all leased through summer 2027; 3,279‑square‑foot triplex built in 1925; Rooftop deck with pilot house access
