RM-1 Triplex with Furnished
For Sale
$660,000
1613 W DIAMOND Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,980 SF
Lot Size0.04 Acres
Price / SF$221.48
Days on Market53
Property Features for 1613 W DIAMOND Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,980 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6434
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Amenities
stainless steel appliances
washer and dryer in each unit
high-speed WiFi
window air conditioning units
security camera system
security system in Unit 1
front door keypad
Landlord Locks universal key system
backyard furnishings
Building Details
Year built
1915
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Realty Devon-Wayne
(610) 647-8300
Listed By:
Jason Polykoff · License #RS356067
(610) 420-5178
Added: Aug 6
Changed: Sep 13
Last Checked: Sep 27 at 2:06AM
MLS# PAPH2655920
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Situated at 1613 W. Diamond Street, this masonry triplex contains three 3-bedroom apartments totaling 2980 square feet on a 0.0413-acre lot. Unit 1 has 1 bathroom and is leased month to month, while Units 2 and 3 each provide 2 full bathrooms. The property is RM-1 zoned and was built in 1915.
Each apartment includes stainless steel appliances, a washer and dryer, high-speed WiFi, and window air-conditioning units. Recent property improvements include newer hot water heaters, an upgraded water pressure pump, refreshed flooring in Unit 1, interior painting, and a drainage system for the Unit 3 laundry area. Furnishings, selected electronics, maintenance supplies, and basement tools are included. Access features include a universal key system, separate bedroom keys, an installed security camera system, and an alarm system in Unit 1.
The property offers on-street parking and is located minutes from Temple University in Philadelphia, PA 19121. Heating is provided by electric baseboard systems.
Each apartment includes stainless steel appliances, a washer and dryer, high-speed WiFi, and window air-conditioning units. Recent property improvements include newer hot water heaters, an upgraded water pressure pump, refreshed flooring in Unit 1, interior painting, and a drainage system for the Unit 3 laundry area. Furnishings, selected electronics, maintenance supplies, and basement tools are included. Access features include a universal key system, separate bedroom keys, an installed security camera system, and an alarm system in Unit 1.
The property offers on-street parking and is located minutes from Temple University in Philadelphia, PA 19121. Heating is provided by electric baseboard systems.
Key Highlights
- Three 3‑bedroom apartments in an RM‑1‑zoned triplex
- 2,980‑square‑foot masonry property on a 0.0413‑acre lot
- Built in 1915 with newer hot water heaters approximately 1 to 2 years old
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,853
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,060
$1.0M
Cap Rate 7%
$726,471
$726.5K
Cap Rate 9%
$565,033
$565.0K
Market Conditions
NOI Build-Up for 2,980 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.9K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$72.6K $24.38/SF
− OpEx
−$21.8K −$7.31/SF
NOI
$50.9K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,060
Cap Rate 7%
$726,471
Cap Rate 9%
$565,033
Alternative Uses
Best Use
Multifamily LT 5
$726.5K
$635.7K – $847.6K
NOI $50,853 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$669.6K
$585.9K – $781.2K
NOI $46,874 @ 7.0% cap · market cap 7.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer varied bathroom layouts, in-unit laundry, stainless steel appliances, and window air conditioning.
Where is this triplex located?
The property is located at 1613 W DIAMOND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Three 3‑bedroom apartments in an RM‑1‑zoned triplex; 2,980‑square‑foot masonry property on a 0.0413‑acre lot; Built in 1915 with newer hot water heaters approximately 1 to 2 years old
