Triplex with Finished
New
For Sale
$498,500
3111 W DIAMOND STREET, Philadelphia, PA 19121
Triplex with three-bedroom, two-bedroom, and convertible one-bedroom units, plus a fully finished basement and backyard.
Days on Market3
Property Features for 3111 W DIAMOND STREET
General Information
Standard status
Active
Property subtype
Triplex
Amenities
exposed brick
accent walls
ultra-modern luxury finishes
fully finished basement
beautiful backyard
Building Details
Building Size
2,646 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
KW Empower
(609) 774-6936
Listed By:
Marc Bennett · License #RS337435
(609) 774-6936
Source:
Patmckennarealtors
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 5:54AM
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 KW Empower
Investment Insights
Based on property information with market context.
This triplex at 3111 W Diamond Street offers three distinct residential units and a fully finished basement. Unit 1 features three bedrooms, Unit 2 features two bedrooms, and Unit 3 is a one-bedroom layout that can be converted to two. Interior details include exposed brick and accent walls paired with ultra-modern luxury finishes. Each bedroom includes an accent wall, and the bathrooms are upgraded with top-tier fixtures.
The property includes a fully finished basement and a backyard, providing additional space for everyday living and entertaining. Built in 1915, the home blends historic character with substantial interior improvements.
The unit configuration supports a variety of household needs within one building, with bed count flexibility in Unit 3 and separate layouts across Units 1 and 2.
The property includes a fully finished basement and a backyard, providing additional space for everyday living and entertaining. Built in 1915, the home blends historic character with substantial interior improvements.
The unit configuration supports a variety of household needs within one building, with bed count flexibility in Unit 3 and separate layouts across Units 1 and 2.
Key Highlights
- Triplex with three units: 3‑bedroom Unit 1, 2‑bedroom Unit 2, and convertible 1‑bedroom Unit 3
- Unit 3 can convert from one‑bedroom to two‑bedroom layout
- Fully finished basement for added living space
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 | $68.3k | $25.80 |
| − Vacancy | −$3.8k | −$1.42 |
| EGI | $64.5k | $24.38 |
| − OpEx | −$19.4k | −$7.31 |
| NOI | $45.2k | $17.06 |
2,646 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$645.1K
$564.4K – $752.6K
NOI $45,154 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$594.6K
$520.3K – $693.7K
NOI $41,620 @ 7.0% cap · market cap 8.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
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 - Triplex with three-bedroom, two-bedroom, and convertible one-bedroom units, plus a fully finished basement and backyard.
Where is this triplex located?
The property is located at 3111 W DIAMOND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $498,500.
What are key features of this property?
This property features: Triplex with three units: 3‑bedroom Unit 1, 2‑bedroom Unit 2, and convertible 1‑bedroom Unit 3; Unit 3 can convert from one‑bedroom to two‑bedroom layout; Fully finished basement for added living space
