1542 W DIAMOND ST Philadelphia, PA 19121
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Philadelphia (North)
MLS Listing ID PAPH2558432
Year Built 1934
Available Date 2025-11-19
Annual Tax Amount $5,792
Tax Year 2025
Lot Size 100 Sqft
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
The ground floor features two retail spaces totaling approximately 1,000 square feet. The primary storefront has existing frontage on Diamond Street with an operational commercial kitchen and hood currently run by the seller. The secondary retail unit of roughly 600 square feet is vacant and ready for a full renovation, offering flexible use for food service, café, or neighborhood retail. The second floor is a fully renovated three bedroom two bath apartment that is turnkey and immediately rentable. The third floor, configured as four bedrooms and three baths, is framed and ready for completion, allowing the next owner to customize finishes and capture additional rental income. Zoning reflects CMX-1 characteristics supporting neighborhood commercial plus residential use.
As of Right Uses in CMX-1
Late-night slice + garlic knots window
Birria/taco counter (grab-and-go)
Halal grill & rice bowls
Bubble tea + bao buns (light savory)
Smoothie/acaí/protein ba
Ghost-kitchen hub (2–3 virtual brands from one line)
Print–copy–ship + campus mailboxes
Device repair & accessories (phones/laptops)
Thrift/consignment & merch pop-ups
Bike repair & tune-ups + locks/lights
Spicy “hot chicken” sandwiches
Investment snapshot
Asking price $650,000 and estimated rehab $150,000 for an all in of approximately $800,000.
Projected gross income approximately $78,000 annually from residential and retail
Stabilized NOI approximately $52,000, implying about a 6.5%cap rate on total cost and about 8% on the purchase price
Seven bedrooms and five baths in total across the upper floors, multiple meters, public utilities, taxes for 2025 reported at $5,792, lot approximately 18 by 100 feet
The property sits amid ongoing Temple corridor redevelopment, with new townhomes, student apartments, and local retail steadily improving block values. Whether you are an investor assembling student housing in a high demand pocket or an entrepreneur seeking live work potential, 1542 W. Diamond offers immediate income, clear value add levers, and long term appreciation in a growing North Philadelphia submarket.
Showings by appointment only. Property sold as is. Contact KW Empower Commercial for financials, pro forma, and detailed investment analysis.
Location
State PA
County Philadelphia
Area 19121 (19121)
Zoning R10 ( CMX1 )
Interior
Hot Water Oil
Heating Forced Air
Cooling None
Inclusions Refrigerator, range, range hood, microwave, dishwasher, all window treatments, all light fixtures.
Heat Source Oil, Natural Gas
Exterior
Utilities Available Electric Available, Natural Gas Available
Water Access N
Accessibility None
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 871603170
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Special Listing Condition Standard
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