Three-Unit Multifamily
For Sale
$660,000
1613 W DIAMOND STREET, Philadelphia, PA 19121
RM-1 triplex with three furnished apartments, individual laundry, stainless steel appliances, and recent property improvements.
Property Size2,980 SF
Price / SF$221.48
Days on Market10
Property Features for 1613 W DIAMOND STREET
General Information
Standard status
Active
Size
2,980 SF
Property subtype
Triplex
Zoning
RM-1
Units
Unit Mix
1 x 3BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Furnished
Yes
Amenities
stainless steel appliances
in-unit washer/dryer
high-speed WiFi
window air conditioning
security camera system
security system
backyard furnishings
keypad entry
Landlord Locks system
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
Keller Williams Realty Devon-Wayne
(610) 420-5178
Listed By:
Jason Polykoff · License #RS356067
(610) 420-5178
Source:
Cummingsrealtors
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 12 at 6:57AM
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 Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
Built in 1915, this 2,980-square-foot Philadelphia triplex contains three three-bedroom apartments. The first unit has one bathroom, while the second and third units each include two full bathrooms. Recent work includes new flooring in Unit 1, fresh paint throughout, three newer hot water heaters approximately 1 to 2 years old, an upgraded water pressure pump, and a dedicated washer-and-dryer drain system in Unit 3.
Each apartment includes stainless steel appliances, in-unit laundry, high-speed WiFi, and window air-conditioning units. The sale includes selected furnishings and equipment, including flat-screen TVs, couches, kitchen tables and chairs, TV consoles, networking equipment, more than nine window AC units, and basement-stored tools and maintenance supplies. Additional property features include a universal key system, separate bedroom keys, backyard furnishings, an installed security camera system, and a Unit 1 security system.
The property is located at 1613 W Diamond Street in Philadelphia, Pennsylvania, near Temple University. RM-1 zoning and the three-apartment configuration are documented property characteristics.
Each apartment includes stainless steel appliances, in-unit laundry, high-speed WiFi, and window air-conditioning units. The sale includes selected furnishings and equipment, including flat-screen TVs, couches, kitchen tables and chairs, TV consoles, networking equipment, more than nine window AC units, and basement-stored tools and maintenance supplies. Additional property features include a universal key system, separate bedroom keys, backyard furnishings, an installed security camera system, and a Unit 1 security system.
The property is located at 1613 W Diamond Street in Philadelphia, Pennsylvania, near Temple University. RM-1 zoning and the three-apartment configuration are documented property characteristics.
Key Highlights
- Three‑bedroom apartments: Unit 1 has 1 bathroom; Units 2 and 3 each have 2 full bathrooms
- 2,980‑square‑foot triplex built in 1915
- RM‑1 zoning at 1613 W Diamond Street, Philadelphia, PA 19121
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
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,365
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 - RM-1 triplex with three furnished apartments, individual laundry, stainless steel appliances, and recent property improvements.
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‑bedroom apartments: Unit 1 has 1 bathroom; Units 2 and 3 each have 2 full bathrooms; 2,980‑square‑foot triplex built in 1915; RM‑1 zoning at 1613 W Diamond Street, Philadelphia, PA 19121
