3537 North 16th Street

Philadelphia, PA 19140

Last Sold Price
2,940 Sq. Ft.
$196 / Sq. Ft.
Sq. Ft.
per Sq. Ft.

Property Details for 3537 North 16th Street

MLS #PAPH728390
Year Built2017
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Lot Size0.05 AC / 2,178 SF
Taxes$735 / year
Condo/Co-op Fees-
HOA Fees-
CountyPhiladelphia County

Listing Agent

Contact Agent(s)

Property Details for 3537 North 16th Street

Fee Simple
Straight Thru
Structure Type
County Name


Fully-leased modular construction multifamily buildings on the booming North Broad Corridor at Temple University Hospital. Three units in total with 6 beds. All units are 2bd x 2ba and the lower level units include full basements which can be used for additional rental income. Modern interiors and appliances, high ceilings, and energy efficient building systems. Dedicated building management and leasing. Built in 2017 as new construction using efficient and dynamic modular construction techniques.... 8 years left on tax abatement. Extremely low operating expenses and strong rental appreciation in this growing submarket located just a 5-minute walk from SEPTA Broad St subway connecting directly into Center City Philadelphia. Located in Qualified Opportunity Zone with millions of SF in new development planned and in active stages from some of the most notable real estate developers in the city and the USA. Extremely strong rental demand from world-class employer TU Hospital with over 5500 high skilled/paid employees in need of high quality rental housing. Tenants are waitlisted to fill these buildings. Pro forma investment approach calls for 7% rental increases annually which boosts the NOI from around 43K to 50K, or from 6.9% to 7.5%. Less than 1mile from Amtrak's North Philadelphia Station redevelopment which calls for 1.7M SF of new homes, research labs, and offices. Additional projects include the redevelopment of the historic Uptown Theater and Beury Building and hundreds of units in urban infill new development. Available immediately. Tenant-occupied properties. 24hr notice required to tour.


Listing Agent

  1. Ryan McManus

    Listing Agent


Building Information for 3537 North 16th Street

Stories-Residences3Year Built2017Building Size-Lot Size0.05 AC / 2,178 SF

Payment Calculator

$2,129 per month

30 year fixed, 3.51% Interest

Principal and Interest


Property Taxes


HOA Dues


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Property Information for 3537 North 16th Street

Listing / Compensation / Market Information
    Listing Information
  • Buyer Agent Full Name: Il Hwan Kim
  • List Agent Full Name: Ryan J McManus
Rental Info
    Rental Info
  • Existing Lease Type: Yearly
  • Rent Control: No
Interior / Building / Parking / Property Information
    Interior Details
  • Tax Total Finished SQFT: 2940
  • Above Grade Fin SQFT: 2940
  • Above Grade Finished Area Units: Square Feet
  • Total Finished SQFT: 2940
    Interior Features
  • Central Air: Yes
  • Cooling Type: Central A/C
  • Heating: Yes
  • Heating Type: Central
    Parking Information
  • Garage: No
  • Type Of Parking: None
    Pool / Spa Information
  • Pool: No Pool
    Location Information
  • MLS Area: 19140 (19140)
  • Sub System Locale: BRIGHT_MAIN
  • System Locale: BRIGHT
  • Tidal Water: No
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Waterfront: No
    School Information
    Building Information
  • Accessibility Features: None
  • Building Units Total: 3
  • Building Total SQFT: 2940
  • Construction Materials: Masonry
  • New Construction: No
  • Other Structures: Above Grade, Below Grade
    Green Information
  • Clean Green Assessed: No
    Association Information
  • HOA: No
    Unit Information
  • Two Bedroom Units Count: 3
  • Units Leased Count: 3
    Income / Expense Information
  • Net Operating Income: $43,722
  • Operating Expense: $4,278
    Property Information
  • Property Type: Multi-Family
  • Land Use Code: W50
  • Lot Size Dimensions: 19.60 x 117.52
  • Lot Size Source: Estimated
  • Lot Size Units: Square Feet
  • Lot SQFT: 2303
  • Lot Size Acres: .05
  • Navigable Water: No
  • Zoning: RSA5
  • Age: 2017.0
    Utilities Information
  • Cooling Fuel: Natural Gas
  • Heating Fuel: Electric
  • Hot Water: Natural Gas
  • Sewer Septic: Public Sewer
  • Water Source: Public
Room Information
  • Basement Type: Other
  • Below Grade Fin SQFT Source: Assessor
  • Below Grade Finished Area Units: Square Feet
  • Below Grade Unfin Area Units: Square Feet
  • Below Grade Unfin SQFT Source: Assessor
Tax / Assessment / Sale Information
    Tax / Assessment Information
  • City Town Tax: $332
  • School Tax: $403
  • Tax Annual Amount: $735
  • Tax Lot: 206
  • Tax Year: 2019
  • Tax ID Number: 112199920
  • Year Assessed: 2019
  • Land Assessed Value: $52,500
  • Tax Assessed Value: $52,500
    Sale Information
  • Cap Rate: 6.90
  • Close Sale Type: Standard Sale
  • Possession: Immediate
  • Prospects Excluded: No
  • Sale Type: Standard
  • Vacation Rental: No

Property History for 3537 North 16th Street

DateEvent & SourcePriceAppreciation
Jul 11, 2019Closed


May 11, 2019Pending


Mar 19, 2019Listed (Active)


DateEvent & SourcePrice




Listed (Active)



For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3537 North 16th Street

Kenderton SchoolPublicK-80.2 mi
New Hope Christian AcademyPrivatePK-110.5 mi
Little Flower Catholic High SchoolPrivate9-120.7 mi
St. Veronica Elementary SchoolPrivateK-80.8 mi

Kenderton School

K-8, 0.2 mi, Public


New Hope Christian Academy

PK-11, 0.5 mi, Private


Little Flower Catholic High School

9-12, 0.7 mi, Private


St. Veronica Elementary School

K-8, 0.8 mi, Private


School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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