1621 W Diamond St,PHILADELPHIA, PA 19121
PHILADELPHIA, PA 19121
Description
Investment opportunity in the heart of the Temple University rental corridor! This well-maintained 9 bed, 3 bath triplex is located just steps from Temple University's campus, nearby primary and high schools, SEPTA, corner stores, and Broad Street. The property is only a 13-minute drive to City Hall and sits in a rapidly developing section of Philadelphia that has transformed significantly over the past 20 years. The building consists of three spacious 3-bedroom, 1-bathroom apartments, each offering generous kitchen cabinet space and functional layouts. Photos are from Unit 2; Units 1 and 3 are very similar with minor layout and feature differences. Unit 1 offers backyard access and higher ceilings, while Unit 3 has a slightly different layout. Unit 2 is the only unit without carpet in the bedrooms. Current rents are significantly below market, with long-term tenants in place, presenting immediate value-add potential. Existing rents are $1,050, $1,050, and $1,150 per unit (with slight rent increases effective 8/1/26 through 7/31/27), while comparable renovated 3-bedroom units in the area routinely achieve $1,350-$1,500 per unit. The current tenants are long-term occupants, with only one or two people leasing each unit. This creates an opportunity for the new owner to increase cash flow in the future and improve the return numbers. All three units are leased through July 31, 2027. The property has been meticulously maintained and features newer appliances, central air and heat, and a washer and dryer located in the basement. It is also part of a historic designation, helping preserve the building's architectural integrity while supporting long-term neighborhood value. this property is perfect to add to your portfolio. May also be purchased along with other properties in the area in a package deal. Please inquire for details. Schedule your appointment today!
Details
| MLS # | PAPH2572648 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1915 |
| Days On Site | 274 |
| Listing Provided By | Plus Realtors | Matin Haghkar |
Features
| SQ Feet | 2,700 |
|---|---|
| Basement | Y |
| Units | 3 |
| Zoning | RM1 |
| Acreage | 0.04 |
Interior
| Rooms Total | 9 |
|---|---|
| Cooling | Central A/C |
| Heating Yes / No | Yes |
| Heating | Central |
| Interior Features | Combination Kitchen/Living, Combination Kitchen/Dining |
Exterior
| Construction Materials | Masonry |
|---|---|
| Foundation Details | Block |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 6516 |
|---|
Area Information
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19121 |
| Area | 19121 (19121) |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Listing VS Median (in 19121) | |
Price: $469,000 low | high Med: $204,950 sqft: 2,700 low | high Med: 1,006 $ / sqft: $174 low | high Med: $205 On site: 274 low | high Med: 94.5 | |
Market Activity 19121
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19121 |
| Area | 19121 (19121) |
| School District | THE SCHOOL DISTRICT OF PHILADELP |
| Listing VS Median (in 19121) | |
Price: $469,000 low | high Med: $204,950 sqft: 2,700 low | high Med: 1,006 $ / sqft: $174 low | high Med: $205 On site: 274 low | high Med: 94.5 | |
