713 16Th StPhiladelphia, PA 19130

For Sale
$3,350,000

Philadelphia Apartment Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional multifamily investment opportunity presents a portfolio of eight buildings encompassing twenty apartment units situated in Philadelphia's desirable Fairmount neighborhood. The portfolio boasts a compelling unit mix: 5% one-bedroom, 75% two-bedroom, and 20% three-bedroom units, offering a diverse tenant base. Priced at $3,350,000 ($167,500 per unit), this property presents a significant value-add opportunity with a pro-forma cap rate of 7.90%. The well-maintained buildings are situated on a 21,750 square foot lot and benefit from their location within walking distance of Fairmount Avenue and Ridge Avenue, two vibrant retail corridors. Residents enjoy convenient access to a variety of amenities including Anytime Fitness, City Fitness, Aldi, Bar Hygge, Univest Bank, and Rite Aid. The property's prime location offers unparalleled access to major thoroughfares like I-76, I-676, and I-95, connecting easily to the broader Philadelphia metropolitan area. Public transportation is readily available, with a short walk to the Broad Street Subway station providing convenient access to Center City and the Philadelphia suburbs. This portfolio offers a compelling combination of location, unit mix, and value-add potential, making it an attractive investment for discerning buyers.

Highlights

  • Significant Value-Add Potential: Renovate units to boost rental income.
  • Excellent Condition: Property meticulously maintained.
  • Prime Fairmount Location: Highly desirable, undersupplied market.
  • Strategic Location: Walkable to Fairmount Avenue and Ridge Avenue commercial corridors.
  • Convenient Public Transit: Easy access to Broad Street Subway and multiple bus lines.

Property Details for 713 16Th St

Property type
Multifamily properties, Apartment buildings
Buildings
8
Units
20

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9676029
Longitude
-75.1634041
713 16Th St, Philadelphia, Pennsylvania

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
713 16Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message