5-Unit Apartment
New
For Sale
$495,000
126 N MULBERRY STREET, Lancaster, PA 17603
Each residence is configured as a one-bedroom apartment.
Property Size2,568 SF
Price / SF$192.76
Days on Market6
Property Features for 126 N MULBERRY STREET
General Information
Standard status
Active
Size
2,568 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
ready for updating
Financials
Gross Income
$34,800
Average Monthly Rent
$580
Units
Unit Mix
5 x 1BR
Multifamily Units
5
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Building Details
Year Built
1890
Listing Agency:
Kingsway Realty - Ephrata
(717) 733-4777
Listed By:
Wendy L Stauffer · License #RS203936L
(717) 587-7006
Source:
Cummingsrealtors
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 24 at 6:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kingsway Realty - Ephrata
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Investment Insights
Based on property information with market context.
The 2,568-square-foot apartment building contains five one-bedroom residences. Constructed in 1890, the property has apartments ready for interior updates, allowing improvements to be made as units turn over. The existing one-bedroom layout is consistent across all five units.
The property is at 126 N Mulberry Street in Lancaster, within walking distance of Central Market, Penn Square, Prince Street Gallery Row, and the Fulton Theatre. Restaurants, coffee shops, and breweries are also nearby. Franklin & Marshall College and the Lancaster Amtrak station are described as an easy trip from the property.
The property is at 126 N Mulberry Street in Lancaster, within walking distance of Central Market, Penn Square, Prince Street Gallery Row, and the Fulton Theatre. Restaurants, coffee shops, and breweries are also nearby. Franklin & Marshall College and the Lancaster Amtrak station are described as an easy trip from the property.
Key Highlights
- Five one‑bedroom apartments
- 2,568 square feet in a building constructed in 1890
- Apartments are ready for interior updating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,296
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,920
$505.9K
Cap Rate 7%
$361,371
$361.4K
Cap Rate 9%
$281,067
$281.1K
Market Conditions
NOI Build-Up for 2,568 SF
Gross rent
$46.2K $18.00/SF
− Vacancy
−$231 −$0.09/SF
EGI
$46.0K $17.91/SF
− OpEx
−$20.7K −$8.06/SF
NOI
$25.3K $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%
$505,920
Cap Rate 7%
$361,371
Cap Rate 9%
$281,067
Alternative Uses
Best Use
Apartment 5plus
$361.4K
$316.2K – $421.6K
NOI $25,296 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$860.6K
$753.0K – $1.00M
NOI $60,239 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
4,835
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence is configured as a one-bedroom apartment.
Where is this apartment building located?
The property is located at 126 N MULBERRY STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Five one‑bedroom apartments; 2,568 square feet in a building constructed in 1890; Apartments are ready for interior updating
