Triplex with Skyline
For Sale
$784,900
802 N 16TH Street, Philadelphia, PA 19130
Multi-Family, PHILADELPHIA, PA
Property Size2,637 SF
Lot Size0.03 Acres
Price / SF$297.65
Days on Market102
Property Features for 802 N 16TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
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
Amenities
hardwood floors
granite countertops
stainless steel appliances
washer and dryer
central air
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Seth C Brodsky · License #RS314858
(215) 376-4444
Added: May 21
Changed: Aug 19
Last Checked: Aug 30 at 12:06AM
MLS# PAPH2624358
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.
Investment Insights
Based on property information with market context.
This 2,637-square-foot masonry triplex, built in 1920, contains three finished apartments. The first-floor and basement residence has a bi-level layout with three bedrooms, two full bathrooms, and private backyard access. The second-floor apartment includes two bedrooms and one bathroom, while the third-floor unit offers two bedrooms, one bathroom, and 260-degree Philadelphia skyline views.
All three apartments feature hardwood flooring, granite countertops, stainless steel appliances, and individual washer and dryer areas. The property also includes central air, forced-air heat, a sprinkler system, three separately metered units, and a 10-year roof warranty expiring in 2034. On-street parking is available.
The property is in Philadelphia’s Fairmount area, with walkable access to the Philadelphia Museum of Art, Fairmount Park, Whole Foods, restaurants, and commuter routes to Center City.
All three apartments feature hardwood flooring, granite countertops, stainless steel appliances, and individual washer and dryer areas. The property also includes central air, forced-air heat, a sprinkler system, three separately metered units, and a 10-year roof warranty expiring in 2034. On-street parking is available.
The property is in Philadelphia’s Fairmount area, with walkable access to the Philadelphia Museum of Art, Fairmount Park, Whole Foods, restaurants, and commuter routes to Center City.
Key Highlights
- Three‑unit masonry property with 2,637 square feet, built in 1920
- Unit mix includes one 3‑bedroom/2‑bath bi‑level and two 2‑bedroom/1‑bath apartments
- Third‑floor apartment features 260‑degree Philadelphia skyline views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,000
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 5.73%
Second Best
Apartment 5plus
$592.6K
$518.5K – $691.3K
NOI $41,479 @ 7.0% cap · market cap 5.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,089
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three finished apartments offer separate metering, private laundry, central air, and access to a backyard.
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 $784,900.
What are key features of this property?
This property features: Three‑unit masonry property with 2,637 square feet, built in 1920; Unit mix includes one 3‑bedroom/2‑bath bi‑level and two 2‑bedroom/1‑bath apartments; Third‑floor apartment features 260‑degree Philadelphia skyline views
