New Construction Apartment
2809 S Warnock St Philadelphia, PA 19148
For Sale
Contact for pricing
12 new construction apartments with resident garage parking and a community roof deck.
Property Size10,378 SF
Price / SF$337.25
Days on Market542
Property Features for 2809 S Warnock St
General Information
- Standard status
- Active
- Size
- 10,378 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2025
Listing Agency:
Nicholas Gentile
Listed By:
Nicholas Gentile · License #Pennsylvania & 7839215
Source:
Crexi
Added: Jan 28, 2025
Changed: Jul 23
Last Checked: Jul 23 at 12:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nicholas Gentile
Investment Insights
Based on property information with market context.
Offered for sale, this new construction multifamily building includes 12 apartments: eleven 1BR/1BA units and one 3BR/3BA unit. The property features 6 garage parking spots for residents and a giant wraparound community roof deck.
The building is located at 2809 S Warnock Street in South Philadelphia’s Packer Park area, with proximity to shopping, entertainment, and restaurants as described in the remarks.
As presented, the deal includes a 10-year tax abatement. Tenants are responsible for electric utilities and pay a monthly water fee.
The building is located at 2809 S Warnock Street in South Philadelphia’s Packer Park area, with proximity to shopping, entertainment, and restaurants as described in the remarks.
As presented, the deal includes a 10-year tax abatement. Tenants are responsible for electric utilities and pay a monthly water fee.
Key Highlights
- New construction multifamily building with 12 apartments (11) 1BD/1BA and (1) 3BR/3BA
- Located at 2809 S. Warnock Street in the Packer Park area by the Stadium in South Philadelphia, PA
- 6 garage parking spots available for residents
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $315.1k | $30.36 |
| − Vacancy | −$18.3k | −$1.76 |
| EGI | $296.8k | $28.60 |
| − OpEx | −$133.6k | −$12.87 |
| NOI | $163.2k | $15.73 |
10,378 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $163,241 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.53M
$2.21M – $2.95M
NOI $177,099 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Apartment building - 12 new construction apartments with resident garage parking and a community roof deck.
Where is this apartment building located?
The property is located at 2809 S Warnock St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: New construction multifamily building with 12 apartments (11) 1BD/1BA and (1) 3BR/3BA; Located at 2809 S. Warnock Street in the Packer Park area by the Stadium in South Philadelphia, PA; 6 garage parking spots available for residents
