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5117-5127 Warren Street - 6-Lot Development Package | Up to 24 Units 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.
| DAYS ON MARKET | 1 | LAST UPDATED | 7/28/2025 |
|---|---|---|---|
| TRACT | WEST PHILADELPHIA | YEAR BUILT | 0 |
| COMMUNITY | 19131 (19131) | COUNTY | PHILADELPHIA |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | PHILADELPHIA CITY |
|---|
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 19131 (19131) |
| CONSTRUCTION | Frame |
| HEAT | None |
| LOT | 9148 sq ft |
| LOT DESCRIPTION | Corner Lot |
| PARKING | On Street |
| SEWER | Public Sewer |
| SUBDIVISION | WEST PHILADELPHIA |
| TAXES | 359 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
| ZONING | residential multi-family 1-4 units, based on lot sq/ft |
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