Patterson-Schwartz Real Estate348 S 16Th Street, Philadelphia, PA 19102-4907 $1,150,000
Interior Sq. Ft: 3,396
Acreage: 0.02
Age:105 years
Taxes: $10,116
Subdivision: Rittenhouse Square
Design/Type:
Interior Row/Townhouse
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.
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Features
Utilities
Baseboard - Electric Heating, Forced Air Heating, Electric, Central A/C, Window Unit(s) Cooling, Electric, Public Water, Public Sewer
Garage/Parking
None
Interior
Unfinished Basement
Exterior
Brick/Mortar Foundation, Masonry
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (127 schools)
Public Middle (21 schools)
Public High (58 schools)
Private (86 schools)
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This report is a detailed community overview for Philadelphia (19102), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 25
- Average salary of people in this community: $114,756
Community Summary
- Population Density (ppl / mile): 27,254
- Household Size (ppl): 1.55
- Households w/ Children: 6%
Housing Inventory
- Owned: 845 (23.3%)
- Rented: 2,210 (61.1%)
- Vacant: 564 (15.6%)
- Total: 3,619
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 0.0%
- Some High School: 2.6%
- High School Graduate: 3.1%
- Some College: 3.4%
- Associate Degree: 4.7%
- Bachelor's Degree: 34.1%
- Graduate Degree: 52.1%
Income by dollar range
Median Income: $96,953
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $1,452
- One Bedroom: $2,025
- Two Bedroom: $2,900
- Three Bedroom: $3,020
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Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-545-2233
Listing Courtesy of: KW Empower , vicki@kwempower.com
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 Patterson-Schwartz Real Estate 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.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 9/22/2025.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
