5-Unit Apartment
For Sale
$674,900
1250 NEW DANVILLE Pike, Lancaster, PA 17603
Multi-Family, LANCASTER, PA
Property Size3,637 SF
Lot Size1.70 Acres
Price / SF$185.57
Days on Market48
Property Features for 1250 NEW DANVILLE Pike
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Driveway
Appliances
Oven/Range - Electric
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
3,637 SF
Lot size
1.70 Acres
Taxes and HOA fees
Tax Annual Amount
8194
Utilities
Heating system
Baseboard, Electric (Heating)
Building Details
Year built
1890
Number of units
4
Building materials
Stick Built, Stone, Stucco, Masonry
Listing Agency:
Hostetter Realty
(717) 786-6200
Listed By:
Tami J Shaub · License #RS203129L
(717) 529-0904
Added: Sep 8
Changed: Oct 19
Last Checked: Oct 25 at 6:06AM
MLS# PALA2095106
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.
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Investment Insights
Based on property information with market context.
Located at 1250 New Danville Pike in Lancaster, Pennsylvania, this apartment property contains five units on 1.7 acres. The units are occupied and professionally managed, and the property also includes a five-unit storage shed. The 3,637-square-foot building dates to 1890 and includes a basement, driveway parking, and electric baseboard heating. Construction materials include stick-built elements, stone, stucco, and masonry. An electric oven/range is provided. The property sits on a quiet dead-end street just outside Lancaster City, offering a residential setting with apartment and storage improvements in place.
Key Highlights
- Five occupied apartment units with professional management
- Five‑unit storage shed included
- 3,637 square feet on 1.7 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,826
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,520
$716.5K
Cap Rate 7%
$511,800
$511.8K
Cap Rate 9%
$398,067
$398.1K
Market Conditions
NOI Build-Up for 3,637 SF
Gross rent
$65.5K $18.00/SF
− Vacancy
−$327 −$0.09/SF
EGI
$65.1K $17.91/SF
− OpEx
−$29.3K −$8.06/SF
NOI
$35.8K $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 Rate 5%
$716,520
Cap Rate 7%
$511,800
Cap Rate 9%
$398,067
Alternative Uses
Best Use
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,826 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,315 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Occupied apartments accompany a separate storage building on a 1.7-acre property.
Where is this apartment building located?
The property is located at 1250 NEW DANVILLE Pike Lancaster, PA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Five occupied apartment units with professional management; Five‑unit storage shed included; 3,637 square feet on 1.7 acres
