5117 WARREN ST Philadelphia, PA 19131
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision West Philadelphia
MLS Listing ID PAPH2521528
Annual Tax Amount $359
Tax Year 2024
Lot Size 9,178 Sqft
Acres 0.21
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Rare opportunity to acquire six consecutive, RM-1 zoned lots in a surging area of West Philadelphia—shovel-ready and fully cleared. Located just one block off the bustling Lancaster Avenue commercial corridor, this stretch of Warren Street is surrounded by new construction, strong rental demand, and major development momentum.
This site comes with professional site planning and preliminary architectural renderings that support a 24-unit multifamily building. The proposed mix includes studios, 2-bedroom, and 3-bedroom units—perfectly suited for the neighborhood's growing demand for workforce housing and student housing.
Positioned within a Qualified Opportunity Zone (QOZ) and eligible for accelerated depreciation, this is an ideal project for long-term investors looking to build equity and generate significant tax benefits. (Buyers should consult their tax professional.)
Highlights:
6 contiguous lots (5117–5127 Warren St) zoned RM-1
Preliminary site plan and renderings available for a 24-unit apartment building
Fully cleared and shovel-ready
In a QOZ – major tax incentives + bonus depreciation potential
Surrounded by new construction, including multi-family and mixed-use projects
Easy access to Center City, City Ave, and University City
Unbeatable Location:
1 block to Lancaster Ave commercial corridor
0.7 mi to ParkWest Town Center (ShopRite, Lowes, Planet Fitness)
Minutes to Fairmount Park, the Mann Music Center, Please Touch Museum, and Bala Golf Club
Close to St. Joseph's University, University of Pennsylvania, Drexel University, and Philadelphia College of Osteopathic Medicine (PCOM)
Convenient access to Route 1, I-76, and SEPTA regional rail & trolley lines
This is your chance to control a full development site in a high-growth corridor with proven rental demand and long-term upside. Build a new apartment building in a well-connected, transit-friendly, and amenity-rich neighborhood that continues to see significant public and private investment.
Location
State PA
County Philadelphia
Area 19131 (19131)
Zoning RM1
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Water Access N
View City
Accessibility Other
Garage N
Building
Lot Description Corner
Foundation Other
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 442182000
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Joint Venture, Negotiable, Private, Other
Listing Terms Cash, Conventional, Joint Venture, Negotiable, Private, Other
Financing Cash,Conventional,Joint Venture,Negotiable,Private,Other
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
- 10
Penn Alexander School
Public | KG - 8
- 9
Cynwyd Elementary School
Public | KG - 5
- 8
Merion Elementary School
Public | KG - 5
- 5
East Lansdowne Elementary School
Public | KG - 6
- 5
W B Evans Magnet School
Public | KG - 6
- 4
Bywood Elementary School
Public | 1 - 5
- 4
Overbrook Educational Center
Public | KG - 8
- 4
West Philadelphia Achievement Ces
Public | KG - 5
- 4
Overbrook Elementary School
Public | KG - 6
- 4
Andrew Hamilton School
Public | KG - 8
- 4
Mastery Charter School Mann Elementary
Public | KG - 6
- 4
Discovery Charter School
Public | KG - 8
- 4
Martha Washington Elementary Academics
Public | KG - 8
- 3
Mastery Charter School at Harrity
Public | KG - 8
- 3
Hardy Williams Academy Charter School
Public | KG - 12
- 3
Middle Years Alternative School for the Humanities MYA
Public | 5 - 8
- 3
Belmont Charter School
Public | KG - 8
- 3
Universal Alcorn Charter School
Public | KG - 8
- 3
Samuel Powel Elementary School
Public | KG - 4
- 3
Thomas Mifflin School
Public | PK - 8
- 7
Bala Cynwyd Middle School
Public | 6 - 8
- 4
Boys Latin of Philadelphia Charter School
Public | 6 - 12
- 4
Mastery Charter School -Shoemaker Campus
Public | 7 - 12
- 2
Eastern University Academy Charter School
Public | 7 - 12
- 1
Dimner Beeber Middle School
Public | 6 - 8
- 0
Kohelet Yeshiva High School
Private | 8 - 12
- 0
Wordsworth Academy
Private | 6 - 12
- 4
Motivation High School
Public | 9 - 12
- 4
Parkway West
Public | 9 - 12
- 4
Paul Robeson High School for Human Services
Public | 9 - 12
- 1
William L. Sayre High School
Public | 9 - 12
- 1
Overbrook High School
Public | 9 - 12
- 1
West Philadelphia High School
Public | 9 - 12
- 1
The Workshop School
Public | 9 - 12
- 1
School of the Future
Public | 9 - 12
- 1
Universal Audenried Charter High School
Public | 9 - 12
- 1
Strawberry Mansion High School
Public | 9 - 12
- 0
Merion Mercy Academy
Private | 9 - 12
- 0
Talmudical Yeshiva of Philadelphia
Private | 9 - 12
- 0
I S Kosloff Torah Academy High School for Girls
Private | 9 - 12
- 0
The Mill Creek School
Private | 9 - 12
- 0
West Philadelphia Catholic High School
Private | 9 - 12
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