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Probably a more powerful APU than PS4, like an 8 Core Puma CPU (about 40% more capable than Jaguar), with a 2.5TF+ GPU, 2-4GBs of HBM clocked at over 200GB/s, 6-8GBs of DDR4 for the console.
It'd probably be more energy efficient than PS4 and XB1 using 14nm parts.

Easily doable at the end of 2016 in a home console, if it doesn't come with some funky controller system or an additional handheld in the box.

As for the handheld part, at $199 it'd be comparable to any retail tablet out at the time, mainly because of the energy output of batteries.
I'd think around Wii U levels would be possible on the move and in a system a bit bigger than a large 3DS.