Well-Maintained Triplex with Central
For Sale
$484,999
1731 West Diamond Street, Philadelphia, PA 19121
Three 3-bedroom units with central heating and air, each with basement washer and dryer, offered with long-term leases.
Property Size2,496 SF
Price / SF$194.31
Days on Market69
Property Features for 1731 West Diamond Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
3
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
RE/MAX Plus
(215) 422-3711
Listed By:
Matin Haghkar · License #RS343911
Source:
Compass
Added: May 24
Changed: Jul 10
Last Checked: Jul 31 at 11:24AM
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 features three spacious 3-bedroom, 2-bath apartments. Units have functional layouts and generous kitchen cabinet space. Photographs are from Unit 2; Units 1 and 3 are reported to be very similar. All residents access the backyard/patio through the common area basement, where each unit has a washer and dryer. The property also includes newer appliances and central air and heat.
The building is positioned in the Temple University rental corridor and is described as being just steps from Temple University’s campus. The remarks note proximity to primary and high schools, SEPTA, corner stores, and Broad Street, with a noted 13-minute drive to City Hall.
For investors or owner-operators, the property is currently leased with long-term tenants in place. Existing rent schedules are provided for Units 1 and 2 through July 31, 2026 and 2027 transitions, and Unit 3 through July 31, 2027, with all three units leased through July 31, 2027 (Unit 2 through July 31, 2028). The listing states that current rents are below market, and it highlights the historic designation as supporting the building’s architectural integrity. The owner may also consider a package purchase with other nearby properties; please inquire for details.
The building is positioned in the Temple University rental corridor and is described as being just steps from Temple University’s campus. The remarks note proximity to primary and high schools, SEPTA, corner stores, and Broad Street, with a noted 13-minute drive to City Hall.
For investors or owner-operators, the property is currently leased with long-term tenants in place. Existing rent schedules are provided for Units 1 and 2 through July 31, 2026 and 2027 transitions, and Unit 3 through July 31, 2027, with all three units leased through July 31, 2027 (Unit 2 through July 31, 2028). The listing states that current rents are below market, and it highlights the historic designation as supporting the building’s architectural integrity. The owner may also consider a package purchase with other nearby properties; please inquire for details.
Key Highlights
- 9‑bed, 6‑bath triplex with three 3‑bedroom, 2‑bath apartments
- Long‑term leases in place for all units through at least July 31, 2027 (Unit 2 through July 31, 2028)
- Central air and heat in each unit, plus basement washer and dryer for each apartment
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 | $64.4k | $25.80 |
| − Vacancy | −$3.5k | −$1.42 |
| EGI | $60.8k | $24.38 |
| − OpEx | −$18.3k | −$7.31 |
| NOI | $42.6k | $17.06 |
2,496 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.4K – $709.9K
NOI $42,594 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$560.9K
$490.8K – $654.4K
NOI $39,261 @ 7.0% cap · market cap 8.10%
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 - Three 3-bedroom units with central heating and air, each with basement washer and dryer, offered with long-term leases.
Where is this triplex located?
The property is located at 1731 West Diamond Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $484,999.
What are key features of this property?
This property features: 9‑bed, 6‑bath triplex with three 3‑bedroom, 2‑bath apartments; Long‑term leases in place for all units through at least July 31, 2027 (Unit 2 through July 31, 2028); Central air and heat in each unit, plus basement washer and dryer for each apartment
