9-Unit Brick Apartment
New
For Sale
$919,000
1001 CHESTNUT Street, Lebanon, PA 17042
MULTI_FAMILY - LEBANON, PA
Property Size3,900 SF
Lot Size0.07 Acres
Price / SF$235.64
Days on Market1
Property Features for 1001 CHESTNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Middle school
LEBANON
High school
LEBANON
Elementary school district
LEBANON
Middle school district
LEBANON
High school district
LEBANON
Standard status
Active
Size
3,900 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
7959
Building Details
Year built
1910
Number of units
4
Building materials
Brick, Brick Front, Concrete, Masonry
Listing Agency:
Hostetter Realty
(717) 786-6200
Listed By:
Jacob D. Fisher · License #RS325195
(717) 587-2481
Added: Aug 4
Last Checked: Aug 4 at 1:06PM
MLS# PALN2027800
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 9-unit brick apartment building contains an all one-bedroom, one-bathroom unit mix within approximately 3,900 square feet. Built in 1910, the property occupies a 0.07-acre corner lot and provides on-street parking. Several apartments were remodeled in 2023 and 2025, while public water and sewer serve the building. Oil heat is in place, and tenants are responsible for their own electric and heat costs.
The property is located in Lebanon, Pennsylvania, near Routes 422 and 72, providing access to nearby shopping, employment centers, and commuter routes. Tenants are in place, and current property management has indicated a willingness to continue under new ownership. The combination of a consistent one-bedroom layout, recent unit improvements, and existing management creates a straightforward multifamily ownership profile.
The property is located in Lebanon, Pennsylvania, near Routes 422 and 72, providing access to nearby shopping, employment centers, and commuter routes. Tenants are in place, and current property management has indicated a willingness to continue under new ownership. The combination of a consistent one-bedroom layout, recent unit improvements, and existing management creates a straightforward multifamily ownership profile.
Key Highlights
- 9‑unit apartment building with an all 1‑bed/1‑bath unit mix
- Approximately 3,900 square feet on a 0.07‑acre corner lot
- Brick construction; built in 1910
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.2k | $16.20 |
| − Vacancy | −$4.3k | −$1.10 |
| EGI | $58.9k | $15.10 |
| − OpEx | −$26.5k | −$6.79 |
| NOI | $32.4k | $8.30 |
3,900 SF · lease $16.20/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$462.7K
$404.8K – $539.8K
NOI $32,386 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$915.4K
$801.0K – $1.07M
NOI $64,079 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
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?
Apartment building - Occupied apartment property with updated units, public utilities, and established management in place.
Where is this apartment building located?
The property is located at 1001 CHESTNUT Street Lebanon, PA.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: 9‑unit apartment building with an all 1‑bed/1‑bath unit mix; Approximately 3,900 square feet on a 0.07‑acre corner lot; Brick construction; built in 1910
