Philadelphia, PA 19122,447 DIAMOND ST
Philadelphia, PA 19122,447 DIAMOND ST
Philadelphia, PA 19122,447 DIAMOND ST
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$700,000
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2,952 SqFt
Active

447 DIAMOND ST Philadelphia, PA 19122

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UPDATED:

10/31/2024 06:23 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

447 Diamond Street – Exceptional Investment Opportunity in a Prime Location

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

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


Bright MLS (BMLS)
Listed by Tyrell Taylor • Realty ONE Group Focus

GET MORE INFORMATION

Michelle McMaster

Broker | License ID: 1542221

+1(856) 335-5586

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447 DIAMOND ST