Fairmount Triplex: Turnkey
For Sale
$782,900
802 N 16th St, Philadelphia, PA 19130
Three-unit property in Fairmount with modern finishes and strong rental income.
Property Size2,637 SF
Price / SF$296.89
Days on Market154
Property Features for 802 N 16th St
General Information
Standard status
Active
Size
2,637 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Realty Mark Associates
Listed By:
Seth C Brodsky · License #RS314858
(215) 625-2811
Source:
Upgradebymichaud
Added: May 21
Changed: Oct 2
Last Checked: Oct 20 at 9:55PM
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 Realty Mark Associates
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Investment Insights
Based on property information with market context.
This three-unit property is located in Fairmount, Philadelphia. The property features three units, each finished with hardwood floors, granite countertops, and stainless steel appliances. Each apartment also has its own washer and dryer and laundry space. Unit 1, situated on the first floor and basement, features a bi-level layout with 3 bedrooms and 2 full bathrooms, and includes private access to a backyard. Unit 2, located on the second floor, is a 2-bedroom, 1-bathroom apartment. Unit 3, on the third floor, is a 2-bedroom, 1-bathroom unit with 260-degree views of the Philadelphia skyline. The property includes central air, a sprinkler system, and a roof with a 10-year warranty expiring in 2034. The property is located in Fairmount, providing walkable access to the Philadelphia Museum of Art, Fairmount Park, Whole Foods, and restaurants, with commuter access to Center City. The property has three separately metered units. The property size is 2637 square feet.
Key Highlights
- Turnkey triplex in desirable Fairmount location, offering immediate rental income potential or owner‑occupancy with mortgage offset.
- Unit 1 features a rare and desirable bi‑level layout with 3 bedrooms, 2 bathrooms, and private backyard access.
- Unit 3 boasts breathtaking 260‑degree views of the Philadelphia skyline.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,000
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,000
$900.0K
Cap Rate 7%
$642,857
$642.9K
Cap Rate 9%
$500,000
$500.0K
Market Conditions
NOI Build-Up for 2,637 SF
Gross rent
$68.0K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$64.3K $24.38/SF
− OpEx
−$19.3K −$7.31/SF
NOI
$45.0K $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%
$900,000
Cap Rate 7%
$642,857
Cap Rate 9%
$500,000
Alternative Uses
Best Use
Multifamily LT 5
$642.9K
$562.5K – $750.0K
NOI $45,000 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$592.6K
$518.5K – $691.3K
NOI $41,479 @ 7.0% cap · market cap 5.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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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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 - Three-unit property in Fairmount with modern finishes and strong rental income.
Where is this triplex located?
The property is located at 802 N 16th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $782,900.
What are key features of this property?
This property features: Turnkey triplex in desirable Fairmount location, offering immediate rental income potential or owner‑occupancy with mortgage offset.; Unit 1 features a rare and desirable bi‑level layout with 3 bedrooms, 2 bathrooms, and private backyard access.; Unit 3 boasts breathtaking 260‑degree views of the Philadelphia skyline.
