$9,963 Closing Credit¹
#PAPH2360290, Feng Wang, Listing Office: HK99 Realty LLC
$10,000
closing credit¹
724 S 16th St Philadelphia, PA 19146
$895,000 List price
$10,000
Closing credit¹
2,832 sqft
0.03 acres
$316 / sqft
Multi-Family
Property details
About 724 S 16th St
Rare investment opportunity in the Graduate Neighborhood! This legal quadplex with a garage and parking offers significant potential for owner-occupants and investors alike, with options for rental income, value-add improvements, or condo conversion. The property underwent a complete gut rehab in 1989 with modernized building systems and is situated on a street-to-street lot offering garage space and parking for two compact cars. Located steps from public transit and Center City amenities, the property boasts a Walk Score of 95, Transit Score of 97, and Bike Score of 87. Each unit features separate utilities (tenants pay except for water), central air and heat, dishwasher, garbage disposal, refrigerator, intercom, and recessed lighting. On-site coin-operated laundry generates additional revenue. The building consists of Unit 1: a 1-bedroom, 1-bath bilevel with a jetted tub and separate standup shower; Unit 2F and Unit 2R: studio apartments; and Unit 3: a 2-bedroom, 1-bath with wood and tile floors, large skylights, and all-new windows on the third floor. With a 99% occupancy rate over 24 years, this tenant-occupied property provides immediate income for the buyer. The garage/workshop is currently vacant, offering additional income potential. Current rents are below market value, presenting opportunities for rental increases and added property value. This is a true value-add opportunity with significant upside potential. The property is located near Rittenhouse Square, Center City business and retail districts, and South Street, with grocery stores, restaurants, and the Marian Anderson Recreation Center (featuring a public pool) all within walking distance. This quadplex qualifies for Fannie Mae/Freddie Mac’s new 5% down owner-occupied multifamily program and offers strong appreciation and rental growth potential. Whether you are looking to expand your portfolio, secure a cash-flowing asset, or explore condo conversion possibilities, this property has it all. Being sold AS-IS. Proof of funds or pre-approval required before scheduling showings. Owner is a licensed PA salesperson.
Highlights
Home typeQuadruplex
HeatingForced Air
StatusComing Soon
(COMING SOON)
(COMING SOON)
CoolingCentral Air
Size2,832 sqft
BasementYes
Lot size0.03 Acres
Year built1915
ParkingInside Access,Garage Door Opener,Garage - Rear Entry,Additional Storage Area, Concrete Driveway, Attached Garage,Driveway,On Street
MLS #PAPH2435874
Garage1 space
ViewCity
Active DateFebruary 06, 2025
Summary
- MLS Number: PAPH2435874
- MLS Name: BRIGHT
- Office Name: HomeSmart Realty Advisors
- Office Phone: (215) 604-1191
- Office Email: bill@homesmartrealtyadvisors.com
- Listing Agent: Marino Polidori
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 9:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$895,000
724 S 16th St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $616,300 | $8,453 |
| 2022 | $604,300 | $8,174 |
| 2021 | $- | $8,174 |
| 2020 | $596,000 | $8,342 |
| 2019 | $609,800 | $8,535 |
| 2018 | $483,900 | $6,773 |
| 2017 | $610,500 | $8,545 |
History based on county public records data.
Nearby schools
3
Stephen Girard Elementary School
Public District KG-4
1.3 mi
•1800 Snyder Ave
5
Francis Scott Key School
Public District KG-6
1.6 mi
•2230 S 8th St
7
Abram Stockton Jenks School
Public District KG-5
1.6 mi
•2501 S 13th St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $42,250. Typical income of Philadelphia, PA residents is less than $<35k annually. Typical family type is single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
47%
<35k
25%
35k-100k
20%
100k-200k
8%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
82%
Single, No Kids
3%
Single, with Kids
9%
Married, No Kids
6%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
6%
<11 yrs old
2%
12-17 yrs old
43%
18-34 yrs old
31%
35-64 yrs old
18%
65+ yrs old
What do the neighbors do for fun?
Hiking/backpacking
Major League Soccer (MLS)
Music Concerts
Where do the neighbors shop?
Bloomingdales
Banana Republic
H&M
Where do the neighbors go to eat?
Starbucks
Jack In The Box
Chipotle
What do the neighbors drive?
Audi
Toyota
Volkswagen
What do the neighbors listen to?
Alternative
Jazz- Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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This home is located at 724 S 16th St in Philadelphia, PA and zip code 19146 in the South Philadelphia neighborhood. This 2,832 square foot home, which was built in 1915, sits on a 0.03 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since January 21, 2025 and is currently priced at $895,000.
In January 2025, from all listings sold in Philadelphia, PA there were more than 152 sold above asking price, over 457 sold below and more than 186 were sold right at the asked price. The number of listings in Philadelphia, PA increased by 3.5% between December and January 2025. Listings spent 52 days on the market in January 2025, and had a median list price of $266,945 during the same period.
From Rocket Homes Real Estate and based on county public records data.