Fairmount Triplex: Turnkey
802 North 16th Street, Philadelphia, PA 19130
Three-unit property in Fairmount with modern finishes and strong rental income.
Type:Multi-Family / Fee Simple
Property size:
2,637 SFPrice / SF:
$322/SF- Added:
- May 20, 2026
- Days on Market:
- 12
- Last Refresh:
- May 21 at 7:30 am
Property Features for 802 North 16th Street
General Information
- Standard status
- Active
- Size
- 2,637 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing agent Seth C Brodsky License #RS314858 (215) 376-4444
Listing office Mega Realty-Philadelphia (215) 376-4444
Listing date May 20, 2026
Source Compass
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 Mega Realty-Philadelphia
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.
- Each unit is equipped with hardwood floors, granite countertops, stainless steel appliances, and in‑unit washer/dryer.
- All units are individually metered, and the property includes central air and a sprinkler system.
- Prime location with walkable access to the Philadelphia Museum of Art, Fairmount Park, Whole Foods, top‑rated restaurants, and convenient access to Center City.
Overview
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.
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.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1636893
- Latitude
- 39.9684668
Nearby Similar for Sale
FAQs
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 North 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: 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.
