$625,000
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1939 W Diamond Street Philadelphia, PA 19121 Municipality: Philadelphia
Mixed Use
Residence
Beds
Baths
6,000
Sq. Ft.
0.04
Acre
Lot
Property Activity
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days
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Own a piece of Philadelphia’s history AND earn instant equity when you buy this quadplex just 6 blocks from Temple University. Rent the units out, and now you have cash flow! Unit 1 is a 3 bed/1.5 bath, bi-level unit. Unit 2 is a 2 bed/2 bath unit. Unit 3 is a 3 bed/3 bath unit with the most amazing... panoramic view from the 4th story. Unit 4 is a converted garage to the rear and has 1 bed/1 bath. Projected rents are $7,500 per month. Unit 1- the commercial/3 bed/1.5 bath unit- is projected at $2,250. The 1 bedroom is projected at $1,250. The 2 bedroom is projected at $1,750. And the 3 bed/3 bath unit is projected at $2,250. Beautifully renovated and 90% of the way to get the Certificate of Occupancy. The seller was quoted $15,000 to install the water and gas lines to the property and $30,000 to install the sprinkler system. The 1st floor is zoned for commercial use and would require a $20,000 chair lift to meet code, OR if you prefer to downzone the building to 100% residential after closing, you can pocket the difference. There are just a few other touches needed to rent the units, including installing electric meters and some appliances. The 2022 Appraisal gives a $1,150,000 valuation after the building is complete and $625,000 As-Is. This property is truly a must-see.
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MLS#
PAPH2426272
Property Type
Mixed Use
Year Built
1915
Square Feet
6,000
sq. ft
Price per Sq. Ft.
$104.17
Lot Size
0.04
Sewer
Public Sewer
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