Building Details

Year Built 1900

Year Renovated 2020

Tenancy Multi

Listing Agency: Kandor Real Estate

Listed By: Katie A Cox · License #RS293070 Show Phone

Source: Kandorre

Added: Jul 20 Changed: Sep 5 Last Checked: Sep 5 at 10:53AM

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Investment Insights

Based on property information with market context.

This five-unit residential income building is zoned for a commercial neighborhood and has undergone substantial updates completed in 2020. Improvements include new electric service with panels and meters, new gutters and downspouts, exterior paint, and replacement of some windows. Interior work includes refurbishing all units with new paint and flooring, along with updated kitchens, appliances, and hot water heaters.

The property is located at 13580 Monterey Lane in Blue Ridge Summit, PA 17214, offering a residential setup within a commercial neighborhood context. The owner reports strong tenant demand with a very low vacancy rate and consistent cash flow.

Overall, the building presents a unit-refreshed configuration with major infrastructure work from 2020, supporting day-to-day functionality across all five units.

Key Highlights

• Five‑unit residential building built in 1900, zoned Commercial Neighborhood.
• Major updates completed in 2020: new electric service with panels and meters, plus new gutters and downspouts.
• 2020 unit refurbishments include new paint and flooring throughout the building.

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

$27,257

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

5.56%

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%

$545,140 $545.1K

Cap Rate 7%

$389,386 $389.4K

Cap Rate 9%

$302,856 $302.9K

Market Conditions

NOI Build-Up for 3,035 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

$53.2K $17.52/SF

− Vacancy

−$3.6K −$1.19/SF

EGI

$49.6K $16.33/SF

− OpEx

−$22.3K −$7.35/SF

NOI

$27.3K $8.98/SF

Area

Franklin County, PA

Vacancy

6.80%

Lease Rate

$17.52 /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%

$545,140

Cap Rate 7%

$389,386

Cap Rate 9%

$302,856

Alternative Uses

Best Use

Apartment 5plus

$389.4K

$340.7K – $454.3K (±1% cap)

NOI $27,257 @ 7.0% cap · market cap 5.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$735.9K

$643.9K – $858.5K (±1% cap)

NOI $51,512 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Hair Salon Auto Parts Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Multi-tenant

Tenancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 17214, PA

1,093

Population

600

Households

1.8

Avg Household Size

45

Median Age

27%

College-Educated

92%

High-School Grad

3.8 sq mi

ZIP Area

288

Density / Sq Mi

$58,750

Median Household Income

$45,473

Median Earnings

$842

Median Rent

$291,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Five-unit building with extensive 2020 updates, including electrical service, unit refurbishments, and hot water heater replacements.

Where is this apartment building located?

The property is located at 13580 Monterey Ln Blue Ridge Summit, PA.

What is the asking price?

The asking price for this property is $490,000.

What are key features of this property?

This property features: Five‑unit residential building built in 1900, zoned Commercial Neighborhood.; Major updates completed in 2020: new electric service with panels and meters, plus new gutters and downspouts.; 2020 unit refurbishments include new paint and flooring throughout the building.