Renovation-Ready
For Sale
$425,000
4923 Warrington Avenue, Philadelphia, PA 19143
Three-unit residential property with Victorian architectural details and partially completed interior improvements.
Property Size2,304 SF
Price / SF$184.46
Days on Market329
Property Features for 4923 Warrington Avenue
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Zoning
RSA3
Property Condition
Severity
Repairs Needed
Evidence
value-add opportunity to finish the renovation-in-progress
Units
Unit Mix
1 x 1BR+den, 2 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,838
Amenities
Other
Yes
No
Assessor
No Pool
Public
N50
24.00 x 90.00
0.05
On Street
97700.00
Building Details
Building Size
2,304 SF
Year Built
1925
Buildings
1
Construction
Victorian
Listing Agency:
Compass
(609) 744-6614
Listed By:
Brittany Moody
(609) 744-6614
Source:
Thetristaterealestategroup
Added: Oct 7, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:45PM
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 Compass
Investment Insights
Based on property information with market context.
This 1925 triplex contains 2,304 square feet across three residential units and is offered strictly as-is, where-is. The first-floor residence is nearly complete and includes one bedroom plus a den, private porch access, and a connection to the rear yard. The upper one-bedroom units share a side entry and remain at an earlier stage of renovation, with rough-ins and selected finishes already installed.
Interior work includes Samsung appliances, Jeld-Wen windows, slate and penny tile, wide-plank white oak flooring, and LG ArtCool Gallery mini-split systems with Smart Inverter condensers. Victorian details include a turret and multi-story bay window, while the rear yard features a deck, raised garden beds, and a new privacy fence. The property is zoned RSA3 and occupies a 0.05-acre lot measuring 24.00 x 90.00 at 4923 Warrington Avenue in Philadelphia.
Interior work includes Samsung appliances, Jeld-Wen windows, slate and penny tile, wide-plank white oak flooring, and LG ArtCool Gallery mini-split systems with Smart Inverter condensers. Victorian details include a turret and multi-story bay window, while the rear yard features a deck, raised garden beds, and a new privacy fence. The property is zoned RSA3 and occupies a 0.05-acre lot measuring 24.00 x 90.00 at 4923 Warrington Avenue in Philadelphia.
Key Highlights
- Three‑unit triplex with 2,304 square feet
- Built in 1925 and zoned RSA3
- First‑floor 1‑bedroom‑plus‑den unit is nearly complete
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,959
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,180
$499.2K
Cap Rate 7%
$356,557
$356.6K
Cap Rate 9%
$277,322
$277.3K
Market Conditions
NOI Build-Up for 2,304 SF
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.
Gross rent
$38.4K $16.68/SF
− Vacancy
−$2.8K −$1.20/SF
EGI
$35.7K $15.48/SF
− OpEx
−$10.7K −$4.64/SF
NOI
$25.0K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,180
Cap Rate 7%
$356,557
Cap Rate 9%
$277,322
Alternative Uses
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with Victorian architectural details and partially completed interior improvements.
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: Three‑unit triplex with 2,304 square feet; Built in 1925 and zoned RSA3; First‑floor 1‑bedroom‑plus‑den unit is nearly complete
