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1422 W Diamond Street

PHILADELPHIA, PA 19121
  • $425,000
  • STATUS: Active
  • ON SITE: 112 Days
  • ID#: PAPH2386918
$425,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,247
    SQFT
  • $131
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1915
County:

School Ratings & Info

Description

Discover an exceptional investment opportunity with this prime 5-unit corner multi-family building, ideally located just steps from Broad Street and Temple Universities Main Campus. With proven rental income ranging from $4,700 to $5,750 per month, and potential to exceed $6,500 with updates, this property is a standout choice for investors. Currently vacant for easy showings, the building features three stories, five units, and an unfinished basement offering further potential.The property is well-maintained, with three of the five units recently updated and the remaining two upgraded within the past five years. The unfinished basement offers potential for additional expansion or customization. The building benefits from hot water radiator heating, with common water and gas, and each unit has its own electric meter. A single rental license covers all five units.The unit breakdown is as follows: Unit 1 is a 1 bed, 1 bath and was previously rented for $750; Unit 2, also a 1 bed, 1 bath, previously rented for $1,000; Unit 3, a 2 bed, 1 bath, previously rented for $1,000; Unit 4, a studio, previously rented for $900; and Unit 5, a 3 bed, 2 bath, previously rented for $1,800 to $2,000. This rare corner location and the propertys attractive features make it a standout investment opportunity. The buyer needs to do their own due diligence to verify the zoning. Investors can also take advantage of Philadelphia's Housing Choice Voucher Program which will guarantee rents and maintain cashflow. The Housing Choice voucher rents can go for $8,172/month and $98,064 gross rent yearly. See the brochure located in the documents section of the listing.With a Walk Score of 87, daily errands can be completed without a car. The property features a Transit Score of 83, offering excellent transit options for most trips, and a Bike Score of 66, indicating good biking infrastructure.Dining options nearby include Philly Style Pizza and Grill, Master Wok, Playa Bowls, Maxi's Pizza Subs and Bar, and more. Educational institutions in the area are Duckrey Tanner School, Temple University Newman Center, Carver High School, and Philadelphia Military Academy at Elverson.Grocery shopping is convenient with Cecil B Moore's Farmer Market, North Dauphin Grocery Store, The Fresh Grocer, Medina Mini Market, and other local options. The property is just four minutes from the BSL NRG Station, providing quick access to Fern Rock TC via the Susquehanna Dauphin Station - BSL stop. Nearby parks include Fotterall Square, Reyburn Park, and Connie Mack Stadium. With its prime location, attractive features, and favorable zoning, this property is a smart choice for any savvy investor. Act quickly to secure this valuable asset!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-11T23:51:01.85.
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1422 W Diamond Street PHILADELPHIA, PA 19121

  • Price: $425,000
  • Status: Active
  • On Site: 112 Days
  • ID#: PAPH2386918
0
Beds
0
Baths
0
½ Baths
0.04
Acres
3,247
SQFT
$131
$/SQFT
1915
Built
Neighborhood:
Temple University
County:
Philadelphia
Area:
19121 (19121)
School District:
The School District Of Philadelphia
Property Description
Discover an exceptional investment opportunity with this prime 5-unit corner multi-family building, ideally located just steps from Broad Street and Temple Universities Main Campus. With proven rental income ranging from $4,700 to $5,750 per month, and potential to exceed $6,500 with updates, this property is a standout choice for investors. Currently vacant for easy showings, the building features three stories, five units, and an unfinished basement offering further potential.The property is well-maintained, with three of the five units recently updated and the remaining two upgraded within the past five years. The unfinished basement offers potential for additional expansion or customization. The building benefits from hot water radiator heating, with common water and gas, and each unit has its own electric meter. A single rental license covers all five units.The unit breakdown is as follows: Unit 1 is a 1 bed, 1 bath and was previously rented for $750; Unit 2, also a 1 bed, 1 bath, previously rented for $1,000; Unit 3, a 2 bed, 1 bath, previously rented for $1,000; Unit 4, a studio, previously rented for $900; and Unit 5, a 3 bed, 2 bath, previously rented for $1,800 to $2,000. This rare corner location and the propertys attractive features make it a standout investment opportunity. The buyer needs to do their own due diligence to verify the zoning. Investors can also take advantage of Philadelphia's Housing Choice Voucher Program which will guarantee rents and maintain cashflow. The Housing Choice voucher rents can go for $8,172/month and $98,064 gross rent yearly. See the brochure located in the documents section of the listing.With a Walk Score of 87, daily errands can be completed without a car. The property features a Transit Score of 83, offering excellent transit options for most trips, and a Bike Score of 66, indicating good biking infrastructure.Dining options nearby include Philly Style Pizza and Grill, Master Wok, Playa Bowls, Maxi's Pizza Subs and Bar, and more. Educational institutions in the area are Duckrey Tanner School, Temple University Newman Center, Carver High School, and Philadelphia Military Academy at Elverson.Grocery shopping is convenient with Cecil B Moore's Farmer Market, North Dauphin Grocery Store, The Fresh Grocer, Medina Mini Market, and other local options. The property is just four minutes from the BSL NRG Station, providing quick access to Fern Rock TC via the Susquehanna Dauphin Station - BSL stop. Nearby parks include Fotterall Square, Reyburn Park, and Connie Mack Stadium. With its prime location, attractive features, and favorable zoning, this property is a smart choice for any savvy investor. Act quickly to secure this valuable asset!
Exterior Features

Architectural Style Other Construction Materials Brick Garage YN No Location Type Urban Lot Features Rear Yard Parking Types On Street Pool No Pool Roof Flat View CityStreet Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 3247 Appliances RefrigeratorOven/Range - GasBuilt-In RangeWasher - Front LoadingDryer - Front Loading Basement YN No Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Window Unit(s) Fireplace YN No Heating Radiator Heating YN Yes Inclusions RefrigeratorOven Range-GasBuilt-In Range HoodLG Front Load Washer & Dryer Single Room Units 1 Three Bedroom Units 1 Two Bedroom Units 1

Property Features

Acceptable Financing Cash Accessibility Features None Central Air YN No Cooling Fuel Electric Cross Street Carlisle St Heating Fuel Natural Gas Historic YN No Hot Water 60+ Gallon Tank Municipality PHILADELPHIA Navigable Water YN N New Construction YN No Number Of Units Total 4 Number Of Units Vacant 5 Original MLSNumber 803294434774 Ownership Interest Fee Simple Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 5666.00 Tax Lot 165 Transportation Airport less than 10 milesBus Stop less than 1 mileCommuter Rail Station less than 1 mile Vacation Rental YN No Water Source Public Zoning SPINS

Listing courtesy of RE/MAX @ HOME: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-11T23:51:01.85.
 
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