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809 Diamond 809 Diamond St 11 Unit Apartment Building For Sale Philadelphia, PA 19122
INVESTMENT HIGHLIGHTS
- Newly built 11-unit multifamily asset near Temple University
- Rooftop deck offering panoramic city views
- 10-year tax abatement enhances investment returns
- Mix of 1-, 2-, and 3-bedroom units with private balconies
- Located in a high-growth North Philadelphia corridor
- Strong walkability and transit access to retail and dining
EXECUTIVE SUMMARY
809 Diamond Street presents a rare opportunity to acquire a newly constructed 11-unit multifamily asset in one of Philadelphia’s most rapidly evolving neighborhoods. Situated on 0.31 acres and totaling 11,360 square feet, this CMX-2 zoned property features a modern mix of 1-, 2-, and 3-bedroom units, with select apartments offering private balconies and access to a spacious rooftop deck with sweeping city views.
Located just steps from Temple University, the property benefits from strong rental demand and walkable access to public transit, restaurants, and retail. The surrounding area is undergoing a wave of revitalization, with new residential and mixed-use developments enhancing the streetscape and community vibrancy. Diamond Street itself blends historic charm with contemporary infill, creating a compelling environment for tenants and investors alike.
Financially, the property generates $243,000 in gross annual income, with a projected NOI of $198,725 and a cap rate of 7.11%. A 10-year tax abatement further strengthens the investment profile. With a balanced unit mix and efficient operating expenses, this asset is well-positioned for long-term stability and growth.
Located just steps from Temple University, the property benefits from strong rental demand and walkable access to public transit, restaurants, and retail. The surrounding area is undergoing a wave of revitalization, with new residential and mixed-use developments enhancing the streetscape and community vibrancy. Diamond Street itself blends historic charm with contemporary infill, creating a compelling environment for tenants and investors alike.
Financially, the property generates $243,000 in gross annual income, with a projected NOI of $198,725 and a cap rate of 7.11%. A 10-year tax abatement further strengthens the investment profile. With a balanced unit mix and efficient operating expenses, this asset is well-positioned for long-term stability and growth.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.31 AC |
| No. Units | 11 | Building Size | 11,360 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2025 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | CMX2 - Commercial Mixed Use is primarily intended to accomodate neighborhood serving retail and service uses | ||
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.31 AC |
| Building Size | 11,360 SF |
| No. Stories | 4 |
| Year Built | 2025 |
| Opportunity Zone |
Yes |
| Zoning | CMX2 - Commercial Mixed Use is primarily intended to accomodate neighborhood serving retail and service uses |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Recycling
- Smoke Free
- Wi-Fi
- Elevator
- Maintenance on site
- Private Bathroom
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+2 | 1 | - | - |
| 2+1 | 2 | - | - |
| 3+2 | 1 | - | - |
Walk Score®
Very Walkable (70)
Transit Score®
Excellent Transit (84)
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