1422 Diamond StPhiladelphia, PA 19121

Property Details for 1422 Diamond St

Year built

1915

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

3,247 SF

Zone code

SPINS

Property type

Apartment buildings

APN

88-1-1471-00

APU

881147100

Description

This exceptional three-story, 5-unit apartment building presents a compelling investment opportunity in Philadelphia, PA. Located on a corner lot, this property boasts a prime location steps from Broad Street and Temple University's main campus, ensuring high occupancy rates and strong rental demand. The building features a total of 3,247 square feet on a 1,530 square foot lot and comprises seven bedrooms and four bathrooms. Three units have undergone recent updates, while two others were upgraded within the past five years. The unfinished basement offers significant potential for expansion or customization. Current monthly rental income ranges from $4,700 to $5,750, with potential to exceed $6,500 with further improvements. Each unit has its own electric meter, while water and gas are common. The building is heated by hot water radiators. A single rental license covers all five units. The property benefits from a Walk Score of 87, a Transit Score of 83, and a Bike Score of 66, reflecting its convenient location and excellent access to public transportation and amenities. Nearby attractions include various dining options, educational institutions, grocery stores, and parks. The property is conveniently located four minutes from the BSL NRG Station, offering easy access to public transportation. The asking price is $425,000, representing a price per unit of $106,250 and a price per square foot of $130.89. The property is offered fee simple. The permitted zoning is SPINS; however, buyers are advised to verify zoning information independently. This well-maintained property offers a strong return on investment and significant upside potential. The building was constructed in 1915. The property's address is 1422 W Diamond St, Philadelphia, PA 19121.

• CAP approach

  CAP return

  Valuation

  6%

  $764,721

  6.5%

  $705,897

  7%

  $655,476

• Comparable approach

  Method

  Valuation

  Relative Method

  $657,592

  Geo Method

  $657,592

• Alternative Use

  Use

  Valuation

  Residential

  $705,897

  Hospitality

  $646,598

  Educational

  $537,962

  Medical

  $556,463

  Retail

  $836,829

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9846

Longitude

-75.1577

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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