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 property’s 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!
Property Type
Multi-FamilySubdivision
Temple UniversityCounty
PHILADELPHIAStyle
OtherAD ID
46702443
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Property Details
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Interior Features
Water/Sewer
- Water Source : Public
Interior Features
- Roof : Flat
- Property Appliances: Refrigerator,Oven/Range - Gas,Built-In Range,Washer - Front Loading,Dryer - Front Loading
Roofing Information
- Flat
Heating & Cooling
- Cooling: Window Unit(s)
- Heating: Radiator
- Cooling Fuel: Electric
- Heating Fuel: Natural Gas
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Exterior Features
Building Information
- Year Built: 1915
- Structure: Other
- Major Appliances: Refrigerator,Oven/Range - Gas,Built-In Range,Washer - Front Loading,Dryer - Front Loading
- New Construction: No
- Total Units: 4
- Built: 1915
- Construction Material: Brick
- Roof: Flat
- Architecture: Other
- Pool/Private: No Pool
- Roof Type: Flat
Pool Information
- Pool: No Pool
Utility Features
- Sewer: Public Sewer
Water
- Water Heat: 60+ Gallon Tank
-
Property / Lot Details
Lot Information
- Lot Size: 1,530
- Lot Size (Acres): 0.04
- Architectural Style: Other
- Main Square Feet: 1,530
Property Information
- SQ ft: 3,247
- SQ ft (Living Area): 3,247
- Total Lot SQ ft: 1,530
- View: City,Street
- Subdivision: TEMPLE UNIVERSITY
- Financing: Cash
- Total Acreage: 0.04
- New Construction: No
- Type: Other
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Listing Information
Listing Information
- Possession: Immediate
- Days Of Market: 119
-
Taxes / Assessments
Tax Information
- Annual Tax: $5,666
- Tax Year: 2023
- Total Taxes Payment Frequency: Annually
Possession
- Immediate
Assessment Information
- Taxes Assessment Amount: $404,800
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Virtual Tour, Parking, Multi-Unit Information & Homeowners Association
Multi-Unit Information
- Acceptable Financing: Cash
- Roof: Flat
Homeowners Association Information
- Direction: To reach 1422 W Diamond St, Philadelphia, PA 19121, start from the main road, Broad Street. Head west on Diamond Street. You will find 1422 W Diamond St on the corner or W Diamond St and N Carlisle.
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School, Utilities & Location Details
School Information
- School District: THE SCHOOL DISTRICT OF PHILADELPHIA
Utility Information
- Water Source: Public
- Sewer: Public Sewer
- Cooling Fuel: Electric
- Heating Fuel: Natural Gas
- Hot Water: 60+ Gallon Tank
Location Information
- Location Type: Urban
- Direction: To reach 1422 W Diamond St, Philadelphia, PA 19121, start from the main road, Broad Street. Head west on Diamond Street. You will find 1422 W Diamond St on the corner or W Diamond St and N Carlisle.
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BuyOwner last updated this listing 12/27/2024 @ 12:49
- MLS: PAPH2386918
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: BRIGHT MLS
is a Other, with 0 bedrooms which is recently sold, it has 0 sqft, 1,530 sized lot, and 0 parking. A comparable Other, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of PHILADELPHIA , in zip code 19121, this PHILADELPHIA County Other , it is in the TEMPLE UNIVERSITY Subdivision, and are nearby neighborhoods.