Renovated Five-Unit
New
For Sale
$650,000
3112 W DIAMOND STREET, Philadelphia, PA 19121
Updated Philadelphia brownstone with studio and two-bedroom layouts, original architectural details, and private backyard access.
Property Size1,490 SF
Price / SF$436.24
Days on Market4
Property Features for 3112 W DIAMOND STREET
General Information
Standard status
Active
Size
1,490 SF
Property subtype
Commercial
Building Details
Year Built
1915
Listing Agency:
United Real Estate
(484) 367-7727
Listed By:
Joy Johnson · License #RS357929
(609) 534-0212
Source:
Cummingsrealtors
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 2:16PM
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 United Real Estate
Investment Insights
Based on property information with market context.
This legal five-unit brownstone was renovated in 2023 and includes four studio apartments plus one two-bedroom, two-bath residence. The larger unit has access to a private backyard. Interior features include high ceilings, exposed brick, oversized windows, and updated finishes that retain original architectural character. In-unit laundry is installed in four apartments. Two units are expected to be delivered vacant, while the property has a history of tenant occupancy.
The building is located on a quiet block with abundant street parking and newly paved streets. Kelly Drive, the Art Museum, Temple, Brewerytown, Fairmount Park, The Dell, and Philadelphia dining and nightlife are identified as nearby destinations. The property was built in 1915 and presents a five-unit multifamily configuration in Philadelphia’s 19121 ZIP code.
The building is located on a quiet block with abundant street parking and newly paved streets. Kelly Drive, the Art Museum, Temple, Brewerytown, Fairmount Park, The Dell, and Philadelphia dining and nightlife are identified as nearby destinations. The property was built in 1915 and presents a five-unit multifamily configuration in Philadelphia’s 19121 ZIP code.
Key Highlights
- Legal five‑unit brownstone renovated in 2023
- Four studio apartments plus one 2‑bedroom, 2‑bath unit
- Private backyard access from the 2‑bedroom residence
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
$23,437
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
3.61%
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%
$468,740
$468.7K
Cap Rate 7%
$334,814
$334.8K
Cap Rate 9%
$260,411
$260.4K
Market Conditions
NOI Build-Up for 1,490 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
$45.2K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$42.6K $28.60/SF
− OpEx
−$19.2K −$12.87/SF
NOI
$23.4K $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%
$468,740
Cap Rate 7%
$334,814
Cap Rate 9%
$260,411
Alternative Uses
Best Use
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,437 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$363.2K
$317.8K – $423.8K
NOI $25,427 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
849
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated Philadelphia brownstone with studio and two-bedroom layouts, original architectural details, and private backyard access.
Where is this apartment building located?
The property is located at 3112 W DIAMOND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Legal five‑unit brownstone renovated in 2023; Four studio apartments plus one 2‑bedroom, 2‑bath unit; Private backyard access from the 2‑bedroom residence
