1422 W Diamond Street
Philadelphia, PA 19121
- – beds
- – baths
- 3,247 sqft
- 1,530 sqft lot
- $123 per sqft
- 1915 build
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Discover an exceptional investment opportunity with this prime 5-unit corner multi-family building, ideally located just steps from Broad Street and Temple Universities Main Campus. With proven rental income ranging from $4,700 to $5,750 per month, and potential to exceed $6,500 with updates, this property is a standout choice for investors. Currently vacant for easy showings, the building features three stories, five units, and an unfinished basement offering further potential. The property is well-maintained, with three of the five units recently updated and the remaining two upgraded within the past five years. The unfinished basement offers potential for additional expansion or customization. The building benefits from hot water radiator heating, with common water and gas, and each unit has its own electric meter. A single rental license covers all five units. The unit breakdown is as follows: Unit 1 is a 1 bed, 1 bath and was previously rented for $750; Unit 2, also a 1 bed, 1 bath, previously rented for $1,000; Unit 3, a 2 bed, 1 bath, previously rented for $1,000; Unit 4, a studio, previously rented for $900; and Unit 5, a 3 bed, 2 bath, previously rented for $1,800 to $2,000. This rare corner location and the property’s attractive features make it a standout investment opportunity. The buyer needs to do their own due diligence to verify the zoning. Investors can also take advantage of Philadelphia's Housing Choice Voucher Program which will guarantee rents and maintain cashflow. The Housing Choice voucher rents can go for $8,172/month and $98,064 gross rent yearly. See the brochure located in the documents section of the listing. With a Walk Score of 87, daily errands can be completed without a car. The property features a Transit Score of 83, offering excellent transit options for most trips, and a Bike Score of 66, indicating good biking infrastructure. Dining options nearby include Philly Style Pizza and Grill, Master Wok, Playa Bowls, Maxi's Pizza Subs and Bar, and more. Educational institutions in the area are Duckrey Tanner School, Temple University Newman Center, Carver High School, and Philadelphia Military Academy at Elverson. Grocery shopping is convenient with Cecil B Moore's Farmer Market, North Dauphin Grocery Store, The Fresh Grocer, Medina Mini Market, and other local options. The property is just four minutes from the BSL NRG Station, providing quick access to Fern Rock TC via the Susquehanna Dauphin Station - BSL stop. Nearby parks include Fotterall Square, Reyburn Park, and Connie Mack Stadium. With its prime location, attractive features, and favorable zoning, this property is a smart choice for any savvy investor. Act quickly to secure this valuable asset!
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Last updated Jan 8, 2025
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MLS# PAPH2386918 —
The Building
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Year Built:1915
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Year Built Source:Estimated
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Roof:Flat
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New Construction:No
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Construction Materials:Brick
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Building Units Total:4
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Structure Type:Other
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Historic:No
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Architectural Style:Other
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Accessibility Features:None
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Basement:No
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Total SqFt Source:Estimated
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Total Below Grade SqFt Source:Estimated
Interior
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Fireplace:No
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Living Area SqFt Source:Estimated
Room Dimensions
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Total SqFt:3247
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Living Area SqFt:3,247 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash
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Buyer Financing:Cash
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Possession:Immediate
Location
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Directions:To reach 1422 W Diamond St, Philadelphia, PA 19121, start from the main road, Broad Street. Head west on Diamond Street. You will find 1422 W Diamond St on the corner or W Diamond St and N Carlisle.
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Cross Street:Carlisle St
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Latitude:39.98453510
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Longitude:-75.15634800
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Location Type:Urban
The Property
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Property Type:Multi-Family
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Property Subtype:Other
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Lot Size Units:Square Feet
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Lot Size Acres:0.04
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Lot Size Source:Estimated
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Lot Features:Rear Yard
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Lot SqFt:1,530 Sqft
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Inclusions:Refrigerator, Oven Range-Gas, Built-In Range Hood, LG Front Load Washer & Dryer
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Zoning:SPINS
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View:City, Street
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Other Structures:Above Grade, Below Grade
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Waterview:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Land Use Code:CA0
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Ground Rent Exists:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (215) 607-3523
- Office phone:
- (215) 607-3535
Taxes
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Tax ID Number:881147100
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Tax Year:2023
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Tax Lot:165
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Tax Annual Amount:$5,666
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Tax Assessed Value:$404,800
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Year Assessed:2023
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School Tax:3109.0
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City/Town Tax:2557.00
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Total Taxes Payment Frequency:Annually
The Listing
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Close Sale Type:Standard Sale
Heating & Cooling
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Cooling Type:Window Unit(s)
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Central Air:No
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Cooling Fuel:Electric
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Heating:Yes
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Heating Type:Radiator
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Heating Fuel:Natural Gas
Utilities
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Sewer/Septic:Public Sewer
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Hot Water:60+ Gallon Tank
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Water Source:Public
Appliances
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Appliances:Refrigerator, Oven/Range - Gas, Built-In Range, Washer - Front Loading, Dryer - Front Loading
Schools
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School District Name:The School District Of Philadelphia
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School District Source:Listing Agent
The Community
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Subdivision Name:Temple University
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Pool:No Pool
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Municipal Trash:Yes
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Transportation:Airport less than 10 miles, Bus Stop less than 1 mile, Commuter Rail Station less than 1 mile
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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Vacation Rental:No
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Single Room Units:1
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One Bedroom Units:2
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Two Bedroom Units:1
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Three Bedroom Units:1
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
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1/3/25
Jan 3, 2025
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Sold | BRIGHT | $400,000 | -5.9% |
12/19/24
Dec 19, 2024
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Pending | BRIGHT | $425,000 | |
11/1/24
Nov 1, 2024
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Price Changed | BRIGHT | $425,000 | -5.6% |