Three-Unit Multifamily
For Sale
$425,000
1704 W DIAMOND Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,364 SF
Lot Size0.04 Acres
Price / SF$179.78
Days on Market424
Property Features for 1704 W DIAMOND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Built-In Range, Refrigerator, Range Hood
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,364 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6584
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
Central Air
yard
private deck
Building Details
Year built
1915
Number of units
3
Building materials
Masonry
Listing Agency:
Penn Liberty Real Estate
Listed By:
Ramon D Caceres Jr. · License #RM421140
(215) 922-7900
Added: Jul 9, 2025
Changed: Aug 19
Last Checked: Sep 5 at 10:06AM
MLS# PAPH2513930
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.
This three-story masonry multifamily property contains three apartments, each arranged with two bedrooms, a full kitchen, and full bathroom facilities. Central air serves all units, while forced-air heating supports the building. The first-floor apartment connects to a yard, and the second-floor unit includes a private rear deck. The upper-level apartment features high ceilings and an updated interior character.
The property occupies a 0.0351-acre lot at 1704 W Diamond Street in Philadelphia, with on-street parking available. Built in 1915, the building offers 2,364 square feet of property area and includes a basement. Its Philadelphia setting provides access to transportation, schools, shopping, dining, and entertainment, with Center City located minutes away.
The property occupies a 0.0351-acre lot at 1704 W Diamond Street in Philadelphia, with on-street parking available. Built in 1915, the building offers 2,364 square feet of property area and includes a basement. Its Philadelphia setting provides access to transportation, schools, shopping, dining, and entertainment, with Center City located minutes away.
Key Highlights
- Three‑story, three‑unit multifamily building
- Each apartment includes 2 bedrooms, a full kitchen, and full baths
- 2,364 square feet on a 0.0351‑acre lot
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
$37,185
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
8.75%
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%
$743,700
$743.7K
Cap Rate 7%
$531,214
$531.2K
Cap Rate 9%
$413,167
$413.2K
Market Conditions
NOI Build-Up for 2,364 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
$71.8K $30.36/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$67.6K $28.60/SF
− OpEx
−$30.4K −$12.87/SF
NOI
$37.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$743,700
Cap Rate 7%
$531,214
Cap Rate 9%
$413,167
Alternative Uses
Best Use
Multifamily LT 5
$576.3K
$504.3K – $672.4K
NOI $40,341 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$531.2K
$464.8K – $619.8K
NOI $37,185 @ 7.0% cap · market cap 8.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,097
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
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 - Masonry income property with central air, private outdoor spaces, and two-bedroom apartments throughout.
Where is this triplex located?
The property is located at 1704 W DIAMOND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑story, three‑unit multifamily building; Each apartment includes 2 bedrooms, a full kitchen, and full baths; 2,364 square feet on a 0.0351‑acre lot
