3535-3537 N 16th St, Philadelphia, PA 19140

Property Description

This sixplex comes with 9 years left of the full tax abatements; the abatements were never applied when the building was originally bought. The taxes are $1,875 a year, and the abatement will run for ten years. The seller’s expediter worked with the city to apply the abatement last year, which will run for the next nine years. Investment special for 6 units with the purchase of both buildings, and with a benefit of a 7% cap rate. Welcome to 3535-3537 N. 16th St., a high-demand rental property in the thriving North Broad Corridor, just steps from Temple University Hospital. This fully leased multifamily building features three spacious units (each with 2 beds and 2 baths), totaling six beds, with lower-level units offering full basements for added rental potential. Built in 2017 using efficient modular construction, this energy-efficient property boasts modern interiors, high ceilings, and contemporary appliances. Dedicated management and leasing ensure hassle-free ownership, while a remaining tax abatement keeps operating expenses low. Situated in a Qualified Opportunity Zone, this investment benefits from strong rental appreciation and a waitlist of tenants fueled by 5,500+ skilled TU Hospital professionals. Conveniently located 5 minutes from the SEPTA Broad St. subway, providing direct access to Center City, and near major redevelopments, including North Philadelphia Station, the Uptown Theater, and the Beury Building. This high-growth investment opportunity is available immediately—a rare find in one of Philadelphia’s most exciting markets. **PACKAGE NOTES: - 2 turnkey rental properties that are giving you the chance to bundle and maximize your investment. - Each property is fully occupied by good-standing tenants. - Owner can provide rent receipts, etc. **PACKAGE DEAL: *3535 N. 16th St. List Price: $625,000 Rental: $1,400 per unit (3 units), *3537 N. 16th St. List Price: $625,000 Rental: $1,400 per unit (3 units)