Brand-New 4-Unit
For Sale
$900,000
5117 WARREN Street, Philadelphia, PA 19131
Multi-Family, PHILADELPHIA, PA
Property Size4,600 SF
Lot Size0.03 Acres
Price / SF$195.65
Days on Market415
Property Features for 5117 WARREN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Rooms
Basement
Parking features
On Street
Subdivision
WEST PHILADELPHIA
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
4,600 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
359
Building Details
Number of units
4
Building materials
Frame
Architectural style
Contemporary
Listing Agency:
Real Broker, LLC
(856) 240-1072
Listed By:
William B Spinner · License #1647459
(856) 418-7852
Added: Jul 28, 2025
Changed: Sep 6
Last Checked: Sep 15 at 4:06AM
MLS# PAPH2521502
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.
Investment Insights
Based on property information with market context.
This contemporary quadplex at 5117 Warren Street is a 4-unit multifamily property totaling 4,600 square feet. The frame construction is currently under construction and is planned for turnkey delivery, including inspection and a Certificate of Occupancy. The property includes a basement and on-street parking.
The property is one block from Lancaster Ave, with access to restaurants, shops, SEPTA trolley service, and essential services. ParkWest Town Center is a half mile away and includes ShopRite, Lowe's, Planet Fitness, and Santander. Fairmount Park, the Mann Music Center, Please Touch Museum, and Bala Golf Club are located less than a mile away. The site also offers access to Center City, City Ave, and University City, with St. Joseph's University, Drexel University, and the University of Pennsylvania nearby.
The property is one block from Lancaster Ave, with access to restaurants, shops, SEPTA trolley service, and essential services. ParkWest Town Center is a half mile away and includes ShopRite, Lowe's, Planet Fitness, and Santander. Fairmount Park, the Mann Music Center, Please Touch Museum, and Bala Golf Club are located less than a mile away. The site also offers access to Center City, City Ave, and University City, with St. Joseph's University, Drexel University, and the University of Pennsylvania nearby.
Key Highlights
- 4‑unit multifamily property with 4,600 square feet
- Turnkey delivery planned with inspection and Certificate of Occupancy
- Contemporary frame construction under construction
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
$78,499
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
8.72%
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%
$1,569,980
$1.6M
Cap Rate 7%
$1,121,414
$1.1M
Cap Rate 9%
$872,211
$872.2K
Market Conditions
NOI Build-Up for 4,600 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
$118.7K $25.80/SF
− Vacancy
−$6.5K −$1.42/SF
EGI
$112.1K $24.38/SF
− OpEx
−$33.6K −$7.31/SF
NOI
$78.5K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$1,569,980
Cap Rate 7%
$1,121,414
Cap Rate 9%
$872,211
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$981.2K – $1.31M
NOI $78,499 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$1.03M
$904.5K – $1.21M
NOI $72,356 @ 7.0% cap · market cap 8.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Contemporary multifamily property under construction with turnkey delivery, a Certificate of Occupancy, and on-street parking.
Where is this quadplex located?
The property is located at 5117 WARREN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4‑unit multifamily property with 4,600 square feet; Turnkey delivery planned with inspection and Certificate of Occupancy; Contemporary frame construction under construction
