1842 N 16th St, Philadelphia, PA 19121

Property Description

Investor Alert! 24-hour notice required for all showings. Currently operating as a 7-bedroom, 2.5-bath rental, the property is leased at $4,900 per month ($58,800 gross annual income) through July 2027, providing investors with stable, predictable returns from day one. With an NOI of $45,236, this property is offered at a 10.95% cap rate — an exceptional return profile for a fully leased, stabilized asset in this market. This property is a legal four-unit rooming house with grandfathered zoning rights, making it a 4-unit building by right. This designation creates significant future value-add potential for the next owner, subject to buyer due diligence. The property benefits from its premier location just steps from Temple University’s main campus, positioned in the heart of the university’s most desirable off-campus housing district and within the campus patrol zone. The property also offers roof access with Center City skyline views and a rear patio. This property is being marketed individually and as a package that includes the properties with the following MLS numbers: PAPH2665118, PAPH2665128, PAPH2665158, PAPH2665168, PAPH2665172, PAPH2665182, PAPH2665188, PAPH2665196 and PAPH2665198