Spacious Victorian Triplex Renovation
4923 WARRINGTON Avenue, Philadelphia, PA 19143
MULTI_FAMILY - Victorian - PHILADELPHIA, PA
Property size:
2,304 SFLot size:
0.05 AcresPrice / SF:
$184/SF- Added:
- Oct 7, 2025
- Days on Market:
- 223
- Last Refresh:
- May 17 at 3:06 pm
Property Features for 4923 WARRINGTON Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,304 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6838
Utilities
- Cooling system
- Ductless
Building Details
- Year built
- 1925
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Victorian
Listing agent Holly Mack-Ward License #RS280577 (215) 866-0037
Listing office Elfant Wissahickon-Rittenhouse Square 2000 Pine Street, Philadelphia, PA (215) 893-9920
Listing date Oct 7, 2025
MLS# PAPH2545670
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Triplex in high‑rent, high‑demand Cedar Park location.
- Value‑add opportunity to complete renovation quickly.
- Stylish contemporary spaces highlighting Victorian architecture like a turret and bay window.
- High‑quality finishes and fixtures already in place, including Samsung appliances and white oak flooring.
- First‑floor unit nearly complete with 1 bed + den, porchfront access, and direct access to rear yard with deck and new fence.
- Close proximity to Cedar Park, Clark Park, and Baltimore Ave shopping/dining.
Overview
This property presents a value-add opportunity to complete the renovation of a spacious triplex in the Cedar Park area. The property offers the potential to create three units in a high-rent, high-demand location. The ongoing renovation aims to create contemporary spaces that accentuate the Victorian architecture, including a turret and a multi-story bay window. Some high-quality finishes and fixtures are already in place, such as Samsung appliances, Jeld-Wen windows, slate and penny tiles, wide-plank white oak flooring, and LG ArtCool Gallery mini-splits with Smart Inverter condensers. The first-floor unit, a one-bedroom plus den, is nearly finished and features exclusive porchfront access and direct access to the rear yard, which includes a deck, raised garden beds, and a new privacy fence. The second and third-floor one-bedroom units, which share a side entrance, require further work but have been mostly roughed in with some finishes in place. Each of these units features a bedroom with a turret accent. All units can share access to the rear yard via a side gate, if desired. The property is located in West Philly, close to Cedar Park, Clark Park, the Kingsessing Rec Center, Baltimore Ave shopping and dining, and the trolley into Center City. The lot size is 0.0486 acres and the property size is 2304 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$277.3K
NOI $24,959 @ 9.00% cap · cautious / downside scenario
Moderate
$356.6K
NOI $24,959 @ 7.00% cap · market / base-case scenario
Aggressive
$499.2K
NOI $24,959 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.4k | $16.68 |
| − Vacancy | −$2.8k | −$1.20 |
| EGI | $35.7k | $15.48 |
| − OpEx | −$10.7k | −$4.64 |
| NOI | $25.0k | $10.83 |
2,304 SF · lease $16.68/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$317.1K
$277.5K – $370.0K
NOI $22,200 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$789.7K
$691.0K – $921.3K
NOI $55,278 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.2202911
- Latitude
- 39.945858
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Triplex in Cedar Park location, renovation-in-progress, value-add opportunity.
Where is this triplex located?
The property is located at 4923 WARRINGTON Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Triplex in high‑rent, high‑demand Cedar Park location.; Value‑add opportunity to complete renovation quickly.; Stylish contemporary spaces highlighting Victorian architecture like a turret and bay window.
