Four-Unit Apartment
For Sale
$539,900
Pending
3214 West Diamond Street, Philadelphia, PA 19121
Multifamily units feature large windows, natural light, and natural hardwood floors.
Property Size2,835 SF
Days on Market195
Property Features for 3214 West Diamond Street
General Information
Standard status
Pending
Size
2,835 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,375
Amenities
No
2+ Access Exits
No Pool
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Elfant Wissahickon-Chestnut Hill
Listed By:
Donna L. Chappelle · License #RS339180
(215) 880-2123
Source:
Compass
Added: Feb 24
Changed: Sep 1
Last Checked: Aug 31 at 10:27PM
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 Elfant Wissahickon-Chestnut Hill
Investment Insights
Based on property information with market context.
This 1915 quadplex contains four apartment units with a two-bedroom, one-bath layout on the first floor, a second two-bedroom, one-bath unit on the second floor, and two one-bedroom, one-bath units on the third floor. The apartments include 11+ ft ceilings, large windows, and natural hardwood floors. The property has 2+ access exits and is zoned RM1.
Three units are occupied by tenants, while the first-floor unit is owner-occupied. The building is in Strawberry Mansion, steps from Fairmount Park and a new driving range, with access to cultural landmarks, local universities, and Center City Philadelphia. The property is located at 3214 West Diamond Street in Philadelphia.
Three units are occupied by tenants, while the first-floor unit is owner-occupied. The building is in Strawberry Mansion, steps from Fairmount Park and a new driving range, with access to cultural landmarks, local universities, and Center City Philadelphia. The property is located at 3214 West Diamond Street in Philadelphia.
Key Highlights
- Four apartment units with 2‑bedroom and 1‑bedroom layouts
- Three units occupied by tenants; first‑floor unit is owner‑occupied
- Apartments feature 11+ ft ceilings, large windows, and natural hardwood floors
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
$48,379
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
8.96%
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%
$967,580
$967.6K
Cap Rate 7%
$691,129
$691.1K
Cap Rate 9%
$537,544
$537.5K
Market Conditions
NOI Build-Up for 2,835 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
$73.1K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$69.1K $24.38/SF
− OpEx
−$20.7K −$7.31/SF
NOI
$48.4K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$967,580
Cap Rate 7%
$691,129
Cap Rate 9%
$537,544
Alternative Uses
Best Use
Multifamily LT 5
$691.1K
$604.7K – $806.3K
NOI $48,379 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$637.0K
$557.4K – $743.2K
NOI $44,593 @ 7.0% cap · market cap 8.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily units feature large windows, natural light, and natural hardwood floors.
Where is this quadplex located?
The property is located at 3214 West Diamond Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Four apartment units with 2‑bedroom and 1‑bedroom layouts; Three units occupied by tenants; first‑floor unit is owner‑occupied; Apartments feature 11+ ft ceilings, large windows, and natural hardwood floors
