1537 South St, PHILADELPHIA
$1,050,000 - 2,786 Sf
MLS® # PAPH2417796
724 S 16th St, PHILADELPHIA
$895,000
0 Beds
0 Baths
2,832 Sqft
.03 Acres
1 Garages
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.
Essential Information
MLS® #PAPH2435874
Price$895,000
Bathrooms0.00
Square Footage2,832
Acres0.03
Year Built1915
TypeMulti-Family
Sub-TypeQuad, Interior Row/Townhouse
StyleOther
StatusActive
Community Information
Address724 S 16th St
Area19146
CityPHILADELPHIA
CountyPHILADELPHIA-PA
StatePA
MunicipalityPHILADELPHIA
Zip Code19146
Amenities
ParkingConcrete Driveway
# of Garages1
ViewCity
Amenities
Bathroom - Jetted Tub, Stall Shower, Tub Shower, Carpet, Intercom, Skylight(s), Studio, Wood Floors
Garages
Inside Access, Garage Door Opener, Garage - Rear Entry, Additional Storage Area
Interior
HeatingForced Air
CoolingCentral A/C
Has BasementYes
Appliances
Dishwasher, Disposal, Dryer, Intercom, Oven/Range-Gas, Refrigerator, Washer, Water Heater
Basement
Front Entrance, Full, Garage Access, Partially Finished, Workshop, Poured Concrete
Exterior
Exterior FeaturesSidewalks, Exterior Lighting
Lot DescriptionRoad Frontage, Other
WindowsDouble Hung, Skylights
RoofFlat
FoundationStone
School Information
DistrictPHILADELPHIA CITY
Additional Information
ZoningRM1
Listing Details
OfficeHomeSmart Realty Advisors
Office Contact(215) 604-1191
Property History
Status Changed from Coming Soon to Active
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Listing information last updated on February 12th, 2025 at 9:46am EST.
