Fairmount Triplex: Turnkey Investment
802 N 16TH Street, Philadelphia, PA 19130
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property size:
2,637 SFLot size:
0.03 AcresPrice / SF:
$322/SF- Added:
- May 21, 2026
- Days on Market:
- 11
- Last Refresh:
- May 31 at 6:06 am
Property Features for 802 N 16TH Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,637 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9416
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Other
Listing agent Seth C Brodsky License #RS314858 (215) 376-4444
Listing office Realty Mark Associates 2250 Terwood Drive, Southampton, PA (215) 376-4444
Listing date May 21, 2026
MLS# PAPH2624358
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Fairmount Location: Walkable to attractions, restaurants, and transportation.
- Turnkey Investment: Three units, all with modern finishes and ready to rent.
- Unit 1 with Private Backyard: Rare and desirable outdoor space in the city.
- Breathtaking Skyline Views: Unit 3 features 260‑degree views of Philadelphia.
- Individual Unit Amenities: Each unit includes hardwood floors, granite countertops, stainless steel appliances, and in‑unit washer/dryer.
- Updated Systems: Central air, sprinkler system, and a 10‑year roof warranty (expires 2034).
Overview
This three-unit property is located in the Fairmount neighborhood of Philadelphia. The property features three units, each finished with hardwood floors, granite countertops, and stainless steel appliances. Each apartment has its own washer, dryer, and laundry space, as well as central air and a sprinkler system. Unit 1, situated on the first floor and basement, features a bi-level layout with 3 bedrooms and 2 full bathrooms, and 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 a 10-year roof warranty that expires in 2034. The property is located in Fairmount, within walking distance of the Philadelphia Museum of Art, Fairmount Park, Whole Foods, and restaurants, with commuter access to Center City. The lot size is 0.0344 acres and the property size is 2637 square feet.
Local 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 | $68.0k | $25.80 |
| − Vacancy | −$3.7k | −$1.42 |
| EGI | $64.3k | $24.38 |
| − OpEx | −$19.3k | −$7.31 |
| NOI | $45.0k | $17.06 |
2,637 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$642.9K
$562.5K – $750.0K
NOI $45,000 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$592.6K
$518.5K – $691.3K
NOI $41,479 @ 7.0% cap · market cap 4.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.16368
- Latitude
- 39.96846
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three-unit property in Fairmount with modern finishes and skyline views.
Where is this triplex located?
The property is located at 802 N 16TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Prime Fairmount Location: Walkable to attractions, restaurants, and transportation.; Turnkey Investment: Three units, all with modern finishes and ready to rent.; Unit 1 with Private Backyard: Rare and desirable outdoor space in the city.
