713 16Th St Philadelphia, PA 19130
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 713 16Th St
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a portfolio of eight buildings encompassing twenty apartment units situated in Philadelphia's desirable Fairmount neighborhood. The portfolio boasts a compelling unit mix: 5% one-bedroom, 75% two-bedroom, and 20% three-bedroom units, offering a diverse tenant base. Priced at $3,350,000 ($167,500 per unit), this property presents a significant value-add opportunity with a pro-forma cap rate of 7.90%. The well-maintained buildings are situated on a 21,750 square foot lot and benefit from their location within walking distance of Fairmount Avenue and Ridge Avenue, two vibrant retail corridors. Residents enjoy convenient access to a variety of amenities including Anytime Fitness, City Fitness, Aldi, Bar Hygge, Univest Bank, and Rite Aid. The property's prime location offers unparalleled access to major thoroughfares like I-76, I-676, and I-95, connecting easily to the broader Philadelphia metropolitan area. Public transportation is readily available, with a short walk to the Broad Street Subway station providing convenient access to Center City and the Philadelphia suburbs. This portfolio offers a compelling combination of location, unit mix, and value-add potential, making it an attractive investment for discerning buyers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1634
- Latitude
- 39.9676
