Patterson-Schwartz Real Estate1422 W Diamond Street, Philadelphia, PA 19121-2355 $425,000
Interior Sq. Ft: 3,247
Acreage: 0.04
Age:109 years
Taxes: $5,666
Subdivision: Temple University
Design/Type:
Other
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!
Home Assoc: No
Condo Assoc: No
Basement: N
Pool: No Pool
Features
Utilities
Radiator Heating, Natural Gas, Window Unit(s) Cooling, Electric, Hot Water - 60+ Gallon Tank, Public Water, Public Sewer
Garage/Parking
On Street
Exterior
Flat Roof, Brick Exterior
Lot
Rear Yard, Urban, City View, Street View
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (157 schools)
Public Middle (30 schools)
Public High (74 schools)
Private (123 schools)
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This report is a detailed community overview for Philadelphia (19121), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 32
- Average salary of people in this community: $31,826
Community Summary
- Population Density (ppl / mile): 13,816
- Household Size (ppl): 2.52
- Households w/ Children: 57%
Housing Inventory
- Owned: 3,933 (23.9%)
- Rented: 8,475 (51.6%)
- Vacant: 4,024 (24.5%)
- Total: 16,432
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 3.6%
- Some High School: 18.0%
- High School Graduate: 36.6%
- Some College: 21.7%
- Associate Degree: 4.5%
- Bachelor's Degree: 8.9%
- Graduate Degree: 6.8%
Income by dollar range
Median Income: $21,201
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $631
- One Bedroom: $705
- Two Bedroom: $840
- Three Bedroom: $929
- Four Bedroom: $1,622
© 2024 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-463-4720
Listing Courtesy of: RE/MAX @ HOME , (215) 607-3535, thelistingteam@liveloveathome.com
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 11/05/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
