New-Construction 11-Unit Apartment
For Sale
$2,100,000
809 DIAMOND Street, Philadelphia, PA 19122
MULTI_FAMILY - PHILADELPHIA, PA
Property Size9,088 SF
Lot Size0.06 Acres
Price / SF$231.07
Days on Market48
Property Features for 809 DIAMOND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
9,088 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2154
Building Details
Year built
2025
Number of units
4
Building materials
Masonry
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Nadia T Bilynsky · License #RS311101
(215) 413-4900
Added: Jun 22
Last Checked: Aug 8 at 8:06AM
MLS# PAPH2639814
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
809 Diamond Street presents a new-construction 11-unit apartment building completed in 2025. Each unit is self-contained and includes in-unit washer and dryer, along with gourmet kitchens and tile baths. Flooring is described as a combination of hardwood and tile, and apartments feature spacious living areas. Some units also offer private outdoor areas, and the building includes a common roof deck.
The property is located in the Temple University area of Philadelphia, with access to public transportation identified via the Broad St Subway line, the Temple University regional rail stop, and multiple bus routes.
For buyers seeking a turn-key multifamily asset, the offering is presented at a 7.3% cap rate in the current listing materials. The unit mix is designed for independent living with full in-unit laundry, and the building amenities include a common roof deck and select private outdoor spaces. Overall, the configuration and completion timeline support investors or owner-operators looking for a modern apartment building with self-contained layouts and 2025 construction.
The property is located in the Temple University area of Philadelphia, with access to public transportation identified via the Broad St Subway line, the Temple University regional rail stop, and multiple bus routes.
For buyers seeking a turn-key multifamily asset, the offering is presented at a 7.3% cap rate in the current listing materials. The unit mix is designed for independent living with full in-unit laundry, and the building amenities include a common roof deck and select private outdoor spaces. Overall, the configuration and completion timeline support investors or owner-operators looking for a modern apartment building with self-contained layouts and 2025 construction.
Key Highlights
- New‑construction 11‑unit apartment building at 809 Diamond St., completed in 2025
- Masonry construction with 2025 year built and under‑construction/new‑build status reported
- Units are self‑contained and include in‑unit washer/dryer (W/D)
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
$142,950
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
6.81%
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%
$2,859,000
$2.9M
Cap Rate 7%
$2,042,143
$2.0M
Cap Rate 9%
$1,588,333
$1.6M
Market Conditions
NOI Build-Up for 9,088 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
$275.9K $30.36/SF
− Vacancy
−$16.0K −$1.76/SF
EGI
$259.9K $28.60/SF
− OpEx
−$117.0K −$12.87/SF
NOI
$142.9K $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%
$2,859,000
Cap Rate 7%
$2,042,143
Cap Rate 9%
$1,588,333
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,950 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.22M
$1.94M – $2.58M
NOI $155,086 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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?
Apartment building - New 2025 construction with in-unit W/D, gourmet kitchens, and a common roof deck for self-contained apartments.
Where is this apartment building located?
The property is located at 809 DIAMOND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: New‑construction 11‑unit apartment building at 809 Diamond St., completed in 2025; Masonry construction with 2025 year built and under‑construction/new‑build status reported; Units are self‑contained and include in‑unit washer/dryer (W/D)
