Bought with Katherine McCann • KW Empower
$925,000
$950,000
2.6%For more information regarding the value of a property, please contact us for a free consultation.
348 S 16TH ST Philadelphia, PA 19102
3,396 SqFt
Key Details
Sold Price $925,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 3,396 sqft
Price per Sqft $272
Subdivision Rittenhouse Square
MLS Listing ID PAPH2540116
Sold Date 01/15/26
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
Above Ground Finished SqFt 3396
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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NEARBY SCHOOLS & BUSINESSES
- 10
Penn Alexander School
Public | KG - 8
- 9
Gamp
Public | 5 - 12
- 9
Masterman Julia R Secondary School
Public | 5 - 12
- 8
Meredith School
Public | KG - 8
- 7
Christopher Columbus Charter School
Public | KG - 8
- 7
Folk Arts-Cultural Treasures Charter School
Public | KG - 8
- 7
General George A. McCall School
Public | KG - 8
- 7
Laboratory Charter School
Public | KG - 8
- 6
Albert M. Greenfield School
Public | KG - 8
- 6
Independence Charter School
Public | KG - 8
- 6
D. Newlin Fell School
Public | KG - 8
- 5
Russell Byers Charter School
Public | PK - 6
- 5
Philadelphia Performing Arts Charter School
Public | KG - 8
- 5
Abram Stockton Jenks School
Public | KG - 4
- 5
Alliance for Progress Charter School
Public | KG - 8
- 5
Mastery Charter School - Thomas Campus
Public | KG - 12
- 5
Eliza Butler Kirkbride School
Public | KG - 8
- 5
Young Scholars Charter School
Public | 5 - 8
- 4
Martha Washington Elementary Academics
Public | KG - 8
- 4
Robert Morris School
Public | KG - 8
- 4
Mastery Charter High School
Public | 7 - 12
- 2
The Sd of Philadelphia Virtual Academy
Public | 6 - 12
- 1
World Communications Charter School
Public | 6 - 12
- 1
Penn Treaty
Public | 6 - 12
- 0
Student Education Center & Delaware Valley High School
Private | 8 - 12
- 0
Wakisha Charter School
Public | 6 - 8
- 8
Science Leadership Academy
Public | 9 - 12
- 8
Academy at Palumbo
Public | 9 - 12
- 7
Carver High School
Public | 9 - 12
- 7
Bodine William W High School
Public | 9 - 12
- 5
Preparatory Charter School of Mathematics Science
Public | 9 - 12
- 5
Creative and Performing Arts
Public | 9 - 12
- 5
Philadelphia Electrical & Tech Chs
Public | 9 - 12
- 5
Parkway-Center City
Public | 9 - 12
- 5
Philadelphia Military Academy at Elverson
Public | 9 - 12
- 4
Paul Robeson High School for Human Services
Public | 9 - 12
- 4
Franklin Lc
Public | 9 - 12
- 4
Constitution High School
Public | 9 - 12
- 1
School of the Future
Public | 9 - 12
- 1
Universal Audenried Charter High School
Public | 9 - 12
- 1
Strawberry Mansion High School
Public | 9 - 12
- 1
South Philadelphia High School
Public | 9 - 12
- 1
Benjamin Franklin High School
Public | 9 - 12
- 1
Charter High School for Architecture and
Public | 9 - 12
- 1
Furness High School
Public | 9 - 12
- 1
Kensington Creative & Performing Arts High School
Public | 9 - 12
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