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    Hanover Borough Multi-Unit Investment

    1228 BROADWAY Hanover, PA 17331

    1228 BROADWAY, Hanover, PA, 17331
    $285,000
    For Sale
    Claim this Listing
    $285,000

    MULTI_FAMILY - Colonial - HANOVER, PA

    Property Size2,674 SF
    Lot Size0.31 Acres
    Price / SF$106.58
    AddedMay 30
    Days on Market47
    Last RefreshJul 15 at 3:06 am

    Property Features for 1228 BROADWAY

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Dining Room, Basement
    Parking features
    Off Street
    Interior features
    Bathroom - Tub Shower, Breakfast Area, Carpet, Ceiling Fan(s), Combination Kitchen/Dining, Dining Area, Efficiency, Entry Level Bedroom, Kitchen - Eat-In, Kitchen - Table Space, Pantry, Wood Floors
    Appliances
    Oven/Range - Electric, Refrigerator, WaterHeater
    Standard status
    Active
    Size
    2,674 SF
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3545

    Utilities

    Heating system
    Hot Water(Heating), Baseboard

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Block, Brick
    Architectural style
    Colonial

    Listing agent Selina A Robinson License #RS280700

    Listing office Berkshire Hathaway HomeServices Homesale Realty 592 Shrewsbury Commons Avenue, Lancaster, PA

    Listing date May 30, 2026

    MLS# PAYK2103864 Listing URL

    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.

    Located in the North End of Hanover Borough, this two-unit property presents an investment opportunity. The building features a concrete block and brick facade. Unit 1, situated on the main level, includes one bedroom, a living room, a full bath, a large eat-in kitchen, and a walk-in pantry. Unit 2 occupies the second and third floors, offering three bedrooms, a living room on the third floor, an entrance mud room, a full bath, a kitchen/dining area, and a small office space or walk-in pantry. Both units provide ample closet space, as well as storage and laundry hookups in the basement. The property includes off-street parking for tenants and guests. Situated close to shopping, restaurants, and everyday amenities, the location provides easy access to commuter routes. The property is 2,674 square feet and sits on a 0.31-acre lot.

    Key Highlights

    • Solid 2‑unit property with concrete block and brick facade
    • Unit 1: 1 bedroom on the main level with full bath, large eat‑in kitchen and walk‑in pantry
    • Unit 2: 3 bedrooms across the 2nd and 3rd floors with full bath, kitchen/dining area and small office space or walk‑in pantry

    Local 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 $47.2k $17.64
    − Vacancy −$2.4k −$0.88
    EGI $44.8k $16.76
    − OpEx −$20.2k −$7.54
    NOI $24.6k $9.22
    2,674 SF · lease $17.64/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $379.0K
    $331.7K – $442.2K (±1% cap)
    NOI $26,533 @ 7.0% cap · market cap 9.31%
    Second Best
    Apartment 5plus
    $352.1K
    $308.1K – $410.8K (±1% cap)
    NOI $24,646 @ 7.0% cap · market cap 8.65%
    Theoretical Best
    Office A
    $774.2K
    $677.4K – $903.3K (±1% cap)
    NOI $54,195 @ 7.0% cap · market cap 19.02%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Plumbing Service Barber Shop Accounting Firm Kitchen & Bath Showroom Storage Facility Home Appliance Store Veterinary Clinic Grocery & Convenience Store Acupuncture

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Two-unit property with income potential in Hanover, Pennsylvania.
    Where is this duplex located?
    The property is located at 1228 BROADWAY Hanover, PA.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: Solid 2‑unit property with concrete block and brick facade; Unit 1: 1 bedroom on the main level with full bath, large eat‑in kitchen and walk‑in pantry; Unit 2: 3 bedrooms across the 2nd and 3rd floors with full bath, kitchen/dining area and small office space or walk‑in pantry
    Contact an agent
    (717) 676-0507
    We can help!
    Contact an agent
    Selina A Robinson
    Selina A Robinson
    Real Estate License ID: RS280700
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