Brick 3-Unit Residential Income
For Sale
$449,900
152 E WALNUT Street, Lancaster, PA 17602
MULTI_FAMILY - Other - LANCASTER, PA
Property Size3,900 SF
Lot Size0.07 Acres
Price / SF$115.36
Days on Market92
Property Features for 152 E WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
5
Parking features
Off Street
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
3,900 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
7429
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1900
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(610) 363-6006
Listed By:
Kate Bailey · License #RS320338
(215) 868-2450
Added: May 13
Changed: Aug 12
Last Checked: Aug 12 at 1:06PM
MLS# PALA2087002
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 end-of-row brick residential income property features solid construction and a traditional architectural style. The building is configured with three floors, each offering a 1-bedroom unit with a full bathroom, a clawfoot tub, and a good-sized living room with a separate kitchen. Interior character is supported by preserved original millwork and custom built-ins throughout.
The layout includes backyard access from each floor and a full basement that may support additional storage or rental space. Improvements include a new roof in 2024 and a whole-house repaint in 2020. Off-street parking is available for up to five vehicles, with two spaces on the side and three in the back.
Set on a 0.07-acre lot, this property presents a straightforward 3-unit configuration designed for durable, low-maintenance ownership.
The layout includes backyard access from each floor and a full basement that may support additional storage or rental space. Improvements include a new roof in 2024 and a whole-house repaint in 2020. Off-street parking is available for up to five vehicles, with two spaces on the side and three in the back.
Set on a 0.07-acre lot, this property presents a straightforward 3-unit configuration designed for durable, low-maintenance ownership.
Key Highlights
- End‑of‑row brick property built in 1900 with 3 floors, each offering a 1‑bedroom unit with a full bathroom and clawfoot tubs
- Each floor includes a separate living room and kitchen, plus backyard access
- Preserved original millwork and custom built‑ins throughout
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
$38,417
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
8.54%
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%
$768,340
$768.3K
Cap Rate 7%
$548,814
$548.8K
Cap Rate 9%
$426,856
$426.9K
Market Conditions
NOI Build-Up for 3,900 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
$70.2K $18.00/SF
− Vacancy
−$351 −$0.09/SF
EGI
$69.8K $17.91/SF
− OpEx
−$31.4K −$8.06/SF
NOI
$38.4K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$768,340
Cap Rate 7%
$548,814
Cap Rate 9%
$426,856
Alternative Uses
Best Use
Multifamily LT 5
$622.3K
$544.5K – $726.1K
NOI $43,563 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$548.8K
$480.2K – $640.3K
NOI $38,417 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,484 @ 7.0% cap · market cap 20.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
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 - End-of-row brick triplex with three 1-bedroom units, full basement, and backyard access from each floor.
Where is this triplex located?
The property is located at 152 E WALNUT Street Lancaster, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: End‑of‑row brick property built in 1900 with 3 floors, each offering a 1‑bedroom unit with a full bathroom and clawfoot tubs; Each floor includes a separate living room and kitchen, plus backyard access; Preserved original millwork and custom built‑ins throughout
