Three-Unit Triplex with Central
For Sale
$425,000
1704 W DIAMOND ST, Philadelphia, PA 19121
Three-story residential income property with yard access, a private rear deck, and two-bedroom units.
Property Size2,364 SF
Price / SF$179.78
Days on Market36
Property Features for 1704 W DIAMOND ST
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Amenities
central air
Building Details
Buildings
1
Stories
3
Listing Agency:
Penn Liberty Real Estate
Listed By:
Ramon D Caceres Jr. · License #RM421140
(215) 922-7900
Source:
Sandrasellstheshore
Added: Aug 1
Changed: Sep 4
Last Checked: Sep 4 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Penn Liberty Real Estate
Investment Insights
Based on property information with market context.
Built in 1915, this three-story Philadelphia triplex contains three residential units, each arranged with two bedrooms, a full kitchen, and full bathrooms. Central air serves all units. The first-floor residence includes access to the yard, while the second-floor unit has a private rear deck. The third-floor apartment is described as spacious, with high ceilings and a modern interior character.
Located at 1704 W Diamond Street, the property is in Philadelphia’s City of Philadelphia setting, with Center City, entertainment, schools, shopping, and dining nearby. The source information also identifies access to major transportation as a property benefit.
Located at 1704 W Diamond Street, the property is in Philadelphia’s City of Philadelphia setting, with Center City, entertainment, schools, shopping, and dining nearby. The source information also identifies access to major transportation as a property benefit.
Key Highlights
- Three‑story, three‑unit residential building
- Each unit includes 2 bedrooms, a full kitchen, and full bathrooms
- Central air serves all 3 units
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 - Three-story residential income property with yard access, a private rear deck, and two-bedroom units.
Where is this triplex located?
The property is located at 1704 W DIAMOND ST 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 residential building; Each unit includes 2 bedrooms, a full kitchen, and full bathrooms; Central air serves all 3 units
