1648 S 16th St - Apartments FOR SALE


Philadelphia, PA 19145- Point Breeze
$829,000 USD
267-246-1264
1648 S 16th St, Philadelphia, PA for Sale
$829,000 USD
Apartments - FOR SALE
1/35
null | Request Cap Rate

1648 S 16th St
Philadelphia, PA 19145
Point Breeze


OVERVIEW

Beautifully Maintained, Fully Occupied, Triplex with C-1 Commercial Space on 1st-Floor. The first floor is currently operated as a yoga studio. Previous uses were daycare centers operated by different operators. Petitioning for a C-2 variance providing for a coffee house or takeout foodery would yield a highly profitable business opportunity in this neighborhood location. The second and third floors feature beautifully appointed 2 bedroom/1 bathroom apartments with in-unit laundry, separate utilities, and strong rental histories. Located on two transit lines, brings excellent visibility to this property, both for commercial businesses as well as renters. Strong potential for rental increases will bring increased valuation in the years to come. BONUS: Tax Abatement runs through 2030

FOR SALE DETAILS

PRICE

$829,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

3

PRICE/UNIT

$276,333

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

871 SF

ZONING

CMX1

APN/PARCEL ID

871550700

ASK ABOUT THIS PROPERTY

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267-246-1264

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267-246-1264

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