$ 825,000
-
$825,000
Price -
5
Bed -
0
Bath -
2,472
SqFt
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About the Listing COMPASS1 - 3184461
Rare opportunity to acquire a legal triplex in the heart of Center City, just steps from Rittenhouse Square and some of Philadelphia’s best restaurants, shops, parks and everyday conveniences. Whether as a pure investment or an owner-occupant opportunity to live in one residence while generating rental income from the other two, 417 S. 16th Street offers an attractive combination of immediate income and long-term upside. The property is configured as three distinct residences: a vacant 2-bedroom, 1-bath apartment on the first floor; a 2-bedroom, 1-bath bi-level apartment on the second floor; and a 1-bedroom, 1-bath apartment on the third floor. Each residence offers the highly desirable convenience of in-unit laundry. The upper-floor apartments are exceptionally well cared for, with abundant natural light, hardwood floors and inviting living spaces, while the recently painted first-floor unit is ready for immediate occupancy, leasing or future improvements. The property has enjoyed a history of long-term tenancy, while current rents provide a new owner with an opportunity to capture additional income as leases roll over. The second-floor residence is currently leased at $1,850/month through December 2026, and the third-floor residence is leased at $1,450/month through February 2027. The vacant first-floor residence was most recently leased to a long-term tenant for $1,900/month. With the first-floor residence currently vacant, a new owner has immediate flexibility: lease the unit at market, improve it to maximize future rent, or make it their own while collecting income from the two occupied apartments above. Legal triplex. Strong rental history. Three apartments with in-unit laundry. Exceptional location. Immediate income with room to grow.
Listing Highlights
Status
Active With Contingency
Days on Site
20
Property Type
Multi-Family
MLS ®
PAPH2665210
Year Built
1800
Total Square Footage
2,472
Lot/Acreage
0.02
County
Philadelphia
Neighborhood
Rittenhouse Square
Area
19146 (19146)
School District
Philadelphia City
Elementary School
Greenfield Albert
Interior Details
- Bedrooms: 5
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2472
- Below Ground Sq Ft: 0
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Zoning: RM1
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $13,040
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
417 S 16th St Philadelphia, PA 19146
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