Triplex with Three 3-Bed
For Sale
$459,999
1731 W DIAMOND STREET, Philadelphia, PA 19121
Well-maintained triplex with three three-bedroom units and central air in each apartment.
Property Size2,496 SF
Days on Market106
Property Features for 1731 W DIAMOND STREET
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Gross Income
$43,260
Taxes and HOA fees
Annual Taxes
$6,579
Building Details
Building Size
2,496 SF
Year Built
1913
Buildings
1
Tenancy
Multi
Listing Agency:
Plus Realtors
Listed By:
Matin Haghkar
(215) 422-3711
Source:
Patmckennarealtors
Added: Jun 3
Changed: Sep 13
Last Checked: Sep 15 at 11:45AM
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 Plus Realtors
Investment Insights
Based on property information with market context.
Located at 1731 W Diamond Street in Philadelphia, this well-maintained triplex was built in 1913 and offers a total of 9 bedrooms and 6 bathrooms. The building is configured as three spacious apartments, each with three bedrooms and two bathrooms, with functional layouts and generous kitchen cabinet space.
Each unit has access to the backyard/patio through the common area basement. Shared basement space also supports in-unit convenience with a washer and dryer provided for each apartment, and the property features newer appliances along with central air and heat.
The home is within the Temple University rental corridor, described as being just steps from campus, near primary and high schools, SEPTA, corner stores, and Broad Street. The property is also part of a historic designation, supporting preservation of its architectural integrity. All units are currently rented for at least another year, with long-term tenants in place.
Each unit has access to the backyard/patio through the common area basement. Shared basement space also supports in-unit convenience with a washer and dryer provided for each apartment, and the property features newer appliances along with central air and heat.
The home is within the Temple University rental corridor, described as being just steps from campus, near primary and high schools, SEPTA, corner stores, and Broad Street. The property is also part of a historic designation, supporting preservation of its architectural integrity. All units are currently rented for at least another year, with long-term tenants in place.
Key Highlights
- Triplex built in 1913 with 9 bedrooms and 6 bathrooms
- Three apartments, each with three bedrooms and two bathrooms
- Central air and heat plus newer appliances
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
$39,261
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
8.54%
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%
$785,220
$785.2K
Cap Rate 7%
$560,871
$560.9K
Cap Rate 9%
$436,233
$436.2K
Market Conditions
NOI Build-Up for 2,496 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
$75.8K $30.36/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$71.4K $28.60/SF
− OpEx
−$32.1K −$12.87/SF
NOI
$39.3K $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%
$785,220
Cap Rate 7%
$560,871
Cap Rate 9%
$436,233
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.4K – $709.9K
NOI $42,594 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$560.9K
$490.8K – $654.4K
NOI $39,261 @ 7.0% cap · market cap 8.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,049
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex with three three-bedroom units and central air in each apartment.
Where is this triplex located?
The property is located at 1731 W DIAMOND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: Triplex built in 1913 with 9 bedrooms and 6 bathrooms; Three apartments, each with three bedrooms and two bathrooms; Central air and heat plus newer appliances
