UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,952 sqft
Price per Sqft $216
MLS Listing ID PAPH2410900
Style Traditional
Abv Grd Liv Area 2,952
Originating Board BRIGHT
Year Built 1875
Available Date 2024-10-20
Annual Tax Amount $3,089
Tax Year 2025
Lot Size 1,080 Sqft
Acres 0.02
Lot Dimensions 18.00 x 60.00
Property Sub-Type Duplex
Property Description
Unlock the potential of this incredible mixed-use property in one of the city's fastest-growing neighborhoods. 447 Diamond Street offers a unique investment opportunity with steady cash flow, a prime location, and the promise of long-term growth. Whether you're an experienced investor or looking to expand your portfolio, this property is a must-see!
Property Features:
First Floor: Commercial Space with Triple Net Lease
The ground floor features a well-established convenience store currently under a Triple Net (NNN) lease. This means minimal maintenance and a reliable income stream. With high visibility and consistent foot traffic, this space is perfect for a variety of businesses, making it an excellent choice for savvy investors.
Second & Third Floors: Residential Apartments
Each of the two upper floors is home to a spacious 2-bedroom, 1-bathroom apartment. Recently updated with modern finishes, these units offer great natural light, ample space, and a desirable layout. Capitalize on the rental income potential or enjoy the option to live in one of the units while generating income from the others.
Investment Highlights:
Steady Cash Flow: With the long-term, low-maintenance commercial tenant and the income-generating residential units, this property offers multiple revenue streams and reliable cash flow.
Triple Net Lease: The NNN lease on the first floor reduces your operating expenses, providing a stable and predictable income stream with minimal risk.
Future Upside: The surrounding area is undergoing rapid development, increasing both the property value and future growth potential.
Location & Neighborhood:
Walkable Convenience: Enjoy the best of city living with easy access to local restaurants, cafes, parks, and shops—all just a few steps away. The neighborhood is vibrant, welcoming, and quickly appreciating in value, making this an ideal time to invest.
Transportation & Accessibility: Excellent access to public transportation, including bus routes and the subway, as well as quick routes to major highways and downtown Philadelphia, ensures that residents and business owners will enjoy convenient and efficient commutes.
Rapid Growth Area: With new developments popping up across the neighborhood, 447 Diamond Street is in the heart of a thriving, dynamic area. This makes it a perfect property for long-term investment.
Why Invest in 447 Diamond Street?
Whether you're looking to add a reliable income-generating asset to your portfolio or seeking a property in an area with tremendous future growth, 447 Diamond Street offers both stability and potential. Don't miss out on this rare opportunity to secure a mixed-use property in one of Philadelphia's most promising locations.
Contact us today to schedule a tour and explore the immense value this property has to offer!
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
Water Access N
Accessibility None
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
