1844 North 16th Street
Multifamily | 8.82% CAP | Student Housing
Marketing description
Currently operating as a 6-bedroom, 2.5 bath rental, the property generates $4,200 per month ($50,400 gross annual income) and is fully leased through July 2027, providing investors with stable, predictable returns from day one. Offering a nearly 9% cap rate.
This property is that it is a legal six-unit rooming house with grandfathered zoning rights, making it a 6-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.
Available individually or as part of a larger portfolio package including several neighboring properties on this block and surrounding area.
Investment highlights
- Nearly 9% cap rate — strong return profile for the price point
- Fully leased through July 2027 — $4,200/mo ($50,400 gross annual income), stable and predictable returns from day one
- Legal 6-unit rooming house — grandfathered zoning rights, 6-unit building by right, significant future value-add potential
- 6 bd / 2.5 ba, 2,784 sq ft
- Premier location steps from Temple's main campus, within campus patrol zone
- Available individually or as part of the broader Temple-area portfolio package
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
