1730 W DIAMOND ST Philadelphia, PA 19121
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 1,742 sqft
Price per Sqft $456
Subdivision Temple University
MLS Listing ID PAPH2532576
Year Built 1925
Annual Tax Amount $5,408
Tax Year 2025
Lot Size 1,742 Sqft
Acres 0.04
Lot Dimensions 17 x 90
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The property's strategic layout minimizes vacancy risks while optimizing cash flow. Even if one tenant moves out, the remaining units continue to generate income, ensuring consistent returns. Additionally, the flexibility to offer short-term, medium-term, or long-term rentals allows investors to capitalize on shifting market demands, maintaining optimal occupancy rates year-round.
1730 W. Diamond Street is a standout investment purchase due to its significant 2024 upgrades, including modernized kitchens, enhanced bathrooms, and smart home features. With 9 rentable units, the potential income stream can significantly exceed that of a standard 4-unit quad or multi-family property. Plus, while a single vacancy in a quad can reduce income by 25% or more, this co-living building's structure ensures minimal financial impact from tenant turnover.
Furthermore, the tenant pool for co-living properties is diverse and stable, ranging from working professionals and downsizing seniors to short-term residents seeking flexible, fully equipped living spaces. This broader tenant base not only reduces turnover but also minimizes costly repeat repairs often associated with conventional apartment rentals. This co-living property is not just an investment; it's a strategic asset designed for sustainable, high-yield returns. Each unit is recently renovated. Cash deal preferred, as-is sale, and POF required before scheduling an appointment to see the property. Agent nor the seller is responsible for incorrect public information, including taxes. Showings are preferred during the Open House due to the tenant's work schedules. CAP RATE Approximately 10%. Serious inquiries can request the rent roll. MLS does not allow for inputting accurate information regarding the number of kitchens. There are 9 recently renovated units, 8 baths, and 7 kitchens. Read the details of the listing for the set-up of each room. Annual income is approximate and based on current rent roll. Buyer encouraged to check with City of Philadelphia, L and I and public records to confirm all details about the property.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning RM1
Interior
Hot Water Electric
Heating Baseboard - Electric, Forced Air, Hot Water
Cooling Ceiling Fan(s), Multi Units, Window Unit(s)
Flooring Engineered Wood
Inclusions Appliances
Heat Source Electric
Exterior
Utilities Available Cable TV Available, Electric Available, Sewer Available, Water Available
Water Access N
Roof Type Flat
Accessibility None
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 321177300
Ownership Fee Simple
SqFt Source Estimated
Security Features Carbon Monoxide Detector(s),Fire Detection System,Intercom,Main Entrance Lock,Smoke Detector,Sprinkler System - Indoor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
