Masonry Triplex with Furnished
New
For Sale
$660,000
1613 W DIAMOND Street, Philadelphia, PA 19121
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,980 SF
Lot Size0.04 Acres
Price / SF$221.48
Days on Market6
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
high speed WiFi
window air conditioning units
security camera system
security system
front door keypad
Landlord Locks universal key system
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: Aug 7
Last Checked: Aug 11 at 7:06PM
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.
This masonry triplex at 1613 W Diamond Street contains 2,980 square feet across three three-bedroom apartments. The first unit has one bathroom, while the second and third each have two full bathrooms. Built in 1915, the property has electric baseboard heating, window unit cooling, and on-street parking. Each apartment includes stainless steel appliances, a washer and dryer, high-speed WiFi, and furnishings including living room couches and kitchen tables with chairs. The sale also includes televisions, TV consoles, routers, the property network setup, maintenance supplies, and more than nine window AC units.
The RM-1-zoned property is located minutes from Temple University in Philadelphia. Recent work includes new flooring in Unit 1, interior painting throughout, three newer hot water heaters approximately 1 to 2 years old, an upgraded water pressure pump, and a washer and dryer drain system in Unit 3. Additional features include a keypad entry door, universal key access, separate bedroom keys, an installed security camera system, and a Unit 1 security system.
The RM-1-zoned property is located minutes from Temple University in Philadelphia. Recent work includes new flooring in Unit 1, interior painting throughout, three newer hot water heaters approximately 1 to 2 years old, an upgraded water pressure pump, and a washer and dryer drain system in Unit 3. Additional features include a keypad entry door, universal key access, separate bedroom keys, an installed security camera system, and a Unit 1 security system.
Key Highlights
- Three 3‑bedroom apartments within 2,980 square feet
- Unit 1 has 1 bathroom; Units 2 and 3 each have 2 full bathrooms
- RM‑1‑zoned property on a 0.0413‑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
$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
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 - Three residential units include stainless appliances, in-unit laundry, 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 within 2,980 square feet; Unit 1 has 1 bathroom; Units 2 and 3 each have 2 full bathrooms; RM‑1‑zoned property on a 0.0413‑acre lot
