1731 W Diamond Street, Philadelphia, PA 19121

Property Description

Investment opportunity in the heart of the Temple University rental corridor! This well-maintained 9 bed, 6 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, 2-bathroom apartments, each offering generous kitchen cabinet space and functional layouts. Photos are from Unit 2; Units 1 and 3 are very similar. All units have access to the backyard/patio through the common area basement. Current rents are significantly below market, with long-term tenants in place, presenting immediate value-add potential. Existing rents are: Unit 1: $1,140 through 7/31/26 and then $1,180 from 8/1/27-7/31/28. Unit 2: $1,100 through 7/31/26 and then $1200 from 8/1/26-7/31/27 and back to $1100 from 8/1/27-7/31/28. Unit 3: $1,275 through 7/31/27. 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 (Unit 2 through July 31st, 2028). The property has been meticulously maintained and features newer appliances, central air and heat, and a washer and dryer for each unit 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!

Property Features

Local Schools