Well-Maintained Triplex for
1621 West Diamond Street Philadelphia, PA 19121
1621 West Diamond Street, Philadelphia, PA, 19121
$549,000
For Sale
$549,000
Three 3-bedroom, 1-bath units with central air and heat, plus basement washer and dryer.
Property Size2,700 SF
Price / SF$203.33
Days on Market221
Property Features for 1621 West Diamond Street
General Information
- Standard status
- Active
- Size
- 2,700 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing agency
RE/MAX Plus
(215) 422-3711
Listed by
Matin Haghkar
(215) 422-3711
Source
Compass
Added: Dec 13, 2025 Updated: Jul 20 at 6:26PM Checked: Jul 21 at 6:31AM
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 RE/MAX Plus
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three spacious 3-bedroom, 1-bath apartments. Each unit is laid out for practical daily living, and the building includes newer appliances, an intercom system, and central air and heat. Laundry is located in the basement with a washer and dryer serving the property. Photos reflect Unit 2; Units 1 and 3 are similar with minor differences, including Unit 1’s backyard access and higher ceilings, and Unit 2 being the only unit without carpet in the bedrooms.
The property is located in the Temple University rental corridor, described in the listing as just steps from campus and near primary and high schools, SEPTA, and Broad Street. Two of the three units are leased through July 31, 2026, and one unit is leased through July 31, 2027.
As presented, rents are $1,050, $1,050, and $1,150 per unit. The listing also notes the building is part of a historic designation. Address: 1621 West Diamond Street, Philadelphia, PA 19121.
The property is located in the Temple University rental corridor, described in the listing as just steps from campus and near primary and high schools, SEPTA, and Broad Street. Two of the three units are leased through July 31, 2026, and one unit is leased through July 31, 2027.
As presented, rents are $1,050, $1,050, and $1,150 per unit. The listing also notes the building is part of a historic designation. Address: 1621 West Diamond Street, Philadelphia, PA 19121.
Key Highlights
- 9‑bed, 3‑bath triplex built in 1915 with three 3‑bedroom, 1‑bath apartments
- Three units currently rented: $1,050, $1,050, and $1,150 per unit
- Two units leased through July 31, 2026, and one unit leased through July 31, 2027
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.7k | $25.80 |
| − Vacancy | −$3.8k | −$1.42 |
| EGI | $65.8k | $24.38 |
| − OpEx | −$19.7k | −$7.31 |
| NOI | $46.1k | $17.06 |
2,700 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$658.2K
$575.9K – $767.9K
NOI $46,075 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,470 @ 7.0% cap · market cap 7.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Three 3-bedroom, 1-bath units with central air and heat, plus basement washer and dryer.
Where is this triplex located?
The property is located at 1621 West Diamond Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 9‑bed, 3‑bath triplex built in 1915 with three 3‑bedroom, 1‑bath apartments; Three units currently rented: $1,050, $1,050, and $1,150 per unit; Two units leased through July 31, 2026, and one unit leased through July 31, 2027
