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Springer Realty Group

info@springerrealtygroup.com +1(484) 498-4000

Listed by Katherine McCann • KW Empower

$1,150,000

Est. payment - /mo

3,396 SqFt

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Open House

Sat Sep 27, 12:30pm - 2:30pm

UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 3,396 sqft

Price per Sqft $338

Subdivision Rittenhouse Square

MLS Listing ID PAPH2540116

Style Straight Thru

Abv Grd Liv Area 3,396

Year Built 1920

Annual Tax Amount $10,116

Tax Year 2025

Lot Size 1,081 Sqft

Acres 0.02

Lot Dimensions 17.00 x 66.00

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

In the heart of Rittenhouse Square awaits a prime investment opportunity along a picturesque tree-lined block at 348 S 16th St. This fully occupied 5-unit building is a true turn-key asset with strong rental history and endless upside. The property features two spacious 2Bd/1Ba units, one 1Bd/1Ba, and two charming studios. The first floor enjoys direct access to a private rear patio, while the full-span basement provides separate metered mechanicals and convenient coin-operated laundry for additional income. Investors will appreciate the thoughtful upgrades already completed. A new roof, exterior crown molding on the bay window, and a new chimney crown with stucco were all installed in 2017. In 2022 the front vestibule received new flooring and unit 1F was updated with a modern bathroom remodel. New dishwashers were recently added to units 1F and 3F. This property has been owned by the same family for more than 40 years, a testament to its stability and care. With these improvements already in place, each unit is rentable from day one while still offering the opportunity to increase cash flow through future upgrades. This property is also an excellent option for an owner-occupant who wants to call Rittenhouse Square home while enjoying steady income from the other units. Living in one of the city's most desirable neighborhoods while your tenants help offset your costs is an opportunity rarely available at this scale. Tenants are drawn to the unbeatable neighborhood lifestyle with a PERFECT Walk Score of 100. World-class shopping along Walnut Street, beloved restaurants like Parc and Barclay Prime, and cultural landmarks such as The Kimmel Center are just steps away. Sprawling Rittenhouse Square Park is only a five-minute walk from the front door, and residents enjoy easy access to City Hall, Jefferson and Pennsylvania Hospitals, Broad Street, and all forms of public transit. Schedule your private tour today and secure a property that blends immediate income, long-term appreciation, and the potential to live in one of Philadelphia's most sought-after neighborhoods.

Location

State PA

County Philadelphia

Area 19102 (19102)

Zoning RM1

Rooms

Basement Unfinished

Interior

Hot Water Other

Heating Baseboard - Electric, Forced Air

Cooling Central A/C, Window Unit(s)

Fireplace N

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Architectural Style Straight Thru

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 881538400

Ownership Fee Simple

SqFt Source 3396

Special Listing Condition Standard

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Springer Realty Group

+1(484) 498-4000

Broker/Owner

348 S 16TH ST Philadelphia, PA 19102

Springer Realty Group

Open House

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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