$ 489,000
-
$489,000
Price -
9
Bed -
3
Bath -
2,700
SqFt
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About the Listing 55821 - 3128009,3266053
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!
Listing Highlights
Status
Active
Days on Site
157
Property Type
Multi-Family
MLS ®
PAPH2572648
Year Built
1915
Total Square Footage
2,700
Lot/Acreage
0.04
Interior Details
- Bedrooms: 9
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Central
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2700
- Below Ground Sq Ft: 0
- Basement: Full
- Other: Combination Kitchen/Living,Combination Kitchen/Dining
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 18.00 x 100.00
- Zoning: RM1
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $6,516
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
1621 W Diamond St Philadelphia, PA 19121
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