1842 North 16th Street
Multifamily | 8.23% CAP | Student Housing Temple University
Marketing description
Currently operating as a 7-bedroom, 2.5-bath student rental, the property generates $4,900 per month ($58,800 gross annual income) and is fully leased through July 2027, providing investors with stable, predictable returns from day one.
This property is that it is a legal four-unit rooming house with grandfathered zoning rights, making it a 4-unit building by right. This designation creates significant future value-add potential for the next owner. Subject to buyer due diligence.
The property benefits from its premier location just steps from Temple University's main campus. Positioned in the heart of the university's most desirable off-campus housing district and within campus patrol zone. The property also features a private roof deck, one of the most sought-after amenities in the Temple University rental market. Roof decks continue to command strong tenant interest and help differentiate properties from competing inventory, supporting long-term rentability and occupancy.
Available individually or as part of a larger portfolio package including several neighboring properties on this block and surrounding area.
Investment highlights
- Fully leased through July 2027 — $4,900/mo ($58,800 gross annual income), stable returns from day one
- Legal 4-unit rooming house — grandfathered zoning rights, 4-unit building by right, strong future value-add potential
- Private roof deck — high-demand amenity in the Temple rental market, drives tenant interest and long-term occupancy
- 7 bd / 2.5 ba — strong rent-by-the-room income potential
- Premier location steps from Temple's main campus, within campus patrol zone
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