PA > Philadelphia
Philadelphia, PA 19146,724 S 16TH ST
Philadelphia, PA 19146,724 S 16TH ST
Philadelphia, PA 19146,724 S 16TH ST
Philadelphia, PA 19146,724 S 16TH ST
Philadelphia, PA 19146,724 S 16TH ST
Philadelphia, PA 19146,724 S 16TH ST
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LeTouye Lowery

LeTouye Lowery

+1(301) 653-1587
$ 895,000
Est. payment | /mo

2,832 SqFt

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$ 895,000
Est. payment | /mo
Save Virtual Tour

2,832 SqFt

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 2,832 sqft

Price per Sqft $316

MLS Listing ID PAPH2435874

Style Other

Abv Grd Liv Area 2,444

Originating Board BRIGHT

Year Built 1915

Annual Tax Amount $8,626

Tax Year 2024

Lot Size 1,120 Sqft

Acres 0.03

Lot Dimensions 16.00 x 70.00

Property Description

Rare investment opportunity in the Graduate Neighborhood! This legal quadplex with a garage and parking offers significant potential for owner-occupants and investors alike, with options for rental income, value-add improvements, or condo conversion. The property underwent a complete gut rehab in 1989 with modernized building systems and is situated on a street-to-street lot offering garage space and parking for two compact cars. Located steps from public transit and Center City amenities, the property boasts a Walk Score of 95, Transit Score of 97, and Bike Score of 87. Each unit features separate utilities (tenants pay except for water), central air and heat, dishwasher, garbage disposal, refrigerator, intercom, and recessed lighting. On-site coin-operated laundry generates additional revenue. The building consists of Unit 1: a 1-bedroom, 1-bath bilevel with a jetted tub and separate standup shower; Unit 2F and Unit 2R: studio apartments; and Unit 3: a 2-bedroom, 1-bath with wood and tile floors, large skylights, and all-new windows on the third floor. With a 99% occupancy rate over 24 years, this tenant-occupied property provides immediate income for the buyer. The garage/workshop is currently vacant, offering additional income potential. Current rents are below market value, presenting opportunities for rental increases and added property value. This is a true value-add opportunity with significant upside potential. The property is located near Rittenhouse Square, Center City business and retail districts, and South Street, with grocery stores, restaurants, and the Marian Anderson Recreation Center (featuring a public pool) all within walking distance. This quadplex qualifies for Fannie Mae/Freddie Mac's new 5% down owner-occupied multifamily program and offers strong appreciation and rental growth potential. Whether you are looking to expand your portfolio, secure a cash-flowing asset, or explore condo conversion possibilities, this property has it all. Being sold AS-IS. Proof of funds or pre-approval required before scheduling showings. Owner is a licensed PA salesperson.

Location

State PA

County Philadelphia

Area 19146 (19146)

Zoning RM1

Rooms

Basement Front Entrance, Full, Garage Access, Partially Finished, Workshop, Poured Concrete

Interior

Interior Features Bathroom - Jetted Tub, Bathroom - Stall Shower, Bathroom - Tub Shower, Breakfast Area, Carpet, Intercom, Skylight(s), Studio, Wood Floors, Other

Hot Water Electric

Heating Forced Air

Cooling Central A/C

Flooring Carpet, Ceramic Tile, Wood

Inclusions Washer & Dryer, Workshop Bench, Refrigerators

Equipment Dishwasher, Disposal, Dryer, Intercom, Oven/Range - Gas, Refrigerator, Washer, Water Heater

Fireplace N

Window Features Double Hung,Skylights

Appliance Dishwasher, Disposal, Dryer, Intercom, Oven/Range - Gas, Refrigerator, Washer, Water Heater

Heat Source Natural Gas

Exterior

Parking Features Inside Access, Garage Door Opener, Garage - Rear Entry, Additional Storage Area

Garage Spaces 3.0

Water Access N

View City

Roof Type Flat

Accessibility None

Attached Garage 1

Total Parking Spaces 3

Garage Y

Building

Lot Description Road Frontage, Other

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

Structure Type Dry Wall

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 301302500

Ownership Fee Simple

SqFt Source Assessor

Security Features Carbon Monoxide Detector(s),Fire Detection System,Intercom,Smoke Detector

Acceptable Financing Conventional, Cash, FHA

Listing Terms Conventional, Cash, FHA

Financing Conventional,Cash,FHA

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Marino Polidori • HomeSmart Realty Advisors

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agent
LeTouye Lowery

Agent | License ID: 5016875

+1(301) 653-1587

1765 Greensboro Station Pl, McLean, VA, 22102, USA

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724 S 16TH ST