UPDATED:
10/25/2024 08:00 PM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,952 sqft
Price per Sqft $237
MLS Listing ID PAPH2410900
Style Traditional
Abv Grd Liv Area 2,952
Originating Board BRIGHT
Year Built 1875
Annual Tax Amount $3,153
Tax Year 2024
Lot Size 1,080 Sqft
Acres 0.02
Lot Dimensions 18.00 x 60.00
Property Description
Don’t miss this incredible chance to add a high-potential property to your portfolio! Located in the heart of a vibrant, rapidly growing neighborhood, 447 Diamond Street is a versatile CMX2 zoned mixed-use building with multiple income streams.
Property Features:
First Floor: A well-established convenience store/commercial space, currently leased with a Triple Net (NNN) lease in place, ensuring steady and low-maintenance rental income. This prime commercial space offers high visibility and foot traffic, ideal for a variety of businesses.
Second & Third Floors: Two spacious 2-bedroom, 1-bathroom apartments, offering the opportunity to further capitalize on rental income. Both units feature modern finishes, plenty of natural light, and spacious layouts.
Investment Highlights:
Steady Cash Flow: The established tenant on the first floor and the income potential from the residential units make this an attractive investment opportunity for both new and seasoned investors.
Triple Net Lease: The convenience store’s NNN lease reduces the burden of property expenses, offering a stable and predictable cash flow.
Location & Neighborhood:
Walkable to Amenities: Situated in a thriving neighborhood, this property is within walking distance of local restaurants, cafes, shops, and parks. The community is rapidly appreciating in value, making it an ideal time to invest.
Transportation: Excellent public transportation options nearby, including bus routes and the subway, making commuting easy and convenient. Residents and businesses alike will benefit from quick access to major highways and downtown Philadelphia.
Future Growth Potential: The area is seeing increased development, with new businesses and residential projects underway. This makes 447 Diamond Street not just a solid investment today, but a property with significant future growth potential.
Summary:
Whether you're looking to expand your real estate portfolio or invest in a property with stable cash flow and significant upside potential, 447 Diamond Street is a must-see. Take advantage of the opportunity to own a mixed-use building in a desirable and rapidly appreciating area. Don’t let this one pass you by—contact us today for more information or to schedule a viewing!
Location
State PA
County Philadelphia
Area 19122 (19122)
Zoning CMX2
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Fireplace N
Heat Source Electric
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 871525280
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Financing Cash,Conventional,FHA,VA
Special Listing Condition Standard
Get More Information