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3228 W Diamond St 5 Unit Apartment Building $749,000 ($149,800/Unit) 7.50% Cap Rate Philadelphia, PA 19121
Executive Summary
MPN Realty, Inc., is proud to present the exclusive sale of 3228 Diamond Street, a 4,572 SF multifamily property located in the Strawberry Mansion neighborhood of Philadelphia. This building consists of five (5) residential units, including three (3) 3-bedroom/1.5-bath units, one (1) 1-bedroom/1-bath unit, and one (1) bi-level studio, and is properly licensed for all five (5) units. The property was previously operated as an Airbnb, and the units feature finer finishes uncommon to the surrounding market, distinguishing the offering from comparable multifamily product in the area. One of the 3-bedroom units is currently vacant, presenting a unique opportunity for an owner-occupant, while the remaining units offer upside through future rent increases to strengthen overall NOI. Situated in a rapidly developing area with close proximity to Fairmount Park and Center City, Strawberry Mansion continues to see increased investor interest driven by strong rental demand and neighborhood growth.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $749,000 | Apartment Style | Low-Rise |
| Price Per Unit | $149,800 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 7.50% | Building Size | 4,572 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | ||
| Zoning | RM-1 - Residential Multi-Family-1 | ||
| Price | $749,000 |
| Price Per Unit | $149,800 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 4,572 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Zoning | RM-1 - Residential Multi-Family-1 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,270 | - |
| 3+1.5 | 3 | $1,338 | - |
| Studios | 1 | $950.00 | - |
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Moderately walkable
70/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 323123000 | Total Assessment | $653,200 |
| Land Assessment | $65,300 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $587,900 | Tax Year | 2026 |
Property Taxes
Parcel Number
323123000
Land Assessment
$65,300
Improvements Assessment
$587,900
Total Assessment
$653,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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