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913 N 16TH ST Philadelphia, PA 19130
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Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 4,608 sqft
Price per Sqft $260
MLS Listing ID PAPH2321054
Sold Date 06/27/24
Style Straight Thru
Abv Grd Liv Area 4,608
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $15,273
Tax Year 2023
Lot Size 2,051 Sqft
Acres 0.05
Lot Dimensions 18.00 x 119.00
Property Description
Introducing a prime investment opportunity at 913 N 16th St, Philadelphia, PA 19130, a legal four-unit building with the potential to convert the garage into a fifth unit, promising an impressive income potential based on the 2023 Section 8 rent schedule with a combined monthly income of $12,000 (3BR Units at $3,408, 2BR Units at $2,820, 1BR Units at $2,353, and an estimated Garage conversion at $600). This property is fully furnished, offering a turnkey solution for immediate rental, ideal for corporate rentals or short-term stays through platforms like Furnished Finder. Its strategic location in one of Philadelphia’s vibrant neighborhoods, close to amenities, public transportation, and city attractions, makes it an appealing choice for tenants and a lucrative option for investors. With multiple income strategies, including traditional leasing and corporate rentals, this property is designed for those looking to maximize their investment with a robust return. The opportunity to add a fifth unit by converting the garage further enhances its revenue potential, making 913 N 16th St a standout investment in the Philadelphia rental market.
Location
State PA
County Philadelphia
Area 19130 (19130)
Zoning RM1
Rooms
Basement Fully Finished
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Parking Features Garage Door Opener
Garage Spaces 3.0
Water Access N
Accessibility None
Total Parking Spaces 3
Garage Y
Building
Foundation Permanent
Sewer Public Sewer
Water Public
Architectural Style Straight Thru
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 471210100
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Casey R Lebarron • Keller Williams Real Estate - Newtown