30-Unit Multifamily Income
For Sale
Contact for pricing
1315 Rolleston St, Harrisburg, PA 17104
Thirty residential units are separately metered for water, sewer, gas, and electric with washer/dryer hookups.
Property Size21,000 SF
Price / SF$166.67
Days on Market135
Property Features for 1315 Rolleston St
General Information
Standard status
Active
Size
21,000 SF
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$280,369
Additional Details
Highway Access
Yes
Multifamily Units
30
Amenities
dedicated garage parking
washer and dryer hookups
Building Details
Year Built
1959
Year Renovated
2022
Units
30
Listing Agency:
Horvath & Tremblay
(215) 302-4400
Listed By:
Craig Dunkle · License #PA RS324418
Source:
Crexi
Added: Apr 1
Changed: Aug 8
Last Checked: Jul 21 at 4:47PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
1315–1343 Rolleston Street is a 30-unit multifamily property in Harrisburg, Pennsylvania. The building consists entirely of residential units and each unit is separately metered for water, sewer, gas, and electric, which supports efficient utility reimbursement and helps manage owner expense exposure.
The units include dedicated garage parking with separate ingress and egress, along with washer and dryer hookups. The property is currently operating with in-place cash flow.
Ownership has completed more than $250,000 in capital expenditures, reducing near-term maintenance risk. The asset’s location places it near major highways, including I-83 and I-81, supporting continued regional connectivity.
The units include dedicated garage parking with separate ingress and egress, along with washer and dryer hookups. The property is currently operating with in-place cash flow.
Ownership has completed more than $250,000 in capital expenditures, reducing near-term maintenance risk. The asset’s location places it near major highways, including I-83 and I-81, supporting continued regional connectivity.
Key Highlights
- 30‑unit multifamily residential property in Harrisburg, PA, built in 1959
- Approximately 21,000 rentable SF of residential units
- Each unit is separately metered for water, sewer, gas, and electric
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
$167,041
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
4.77%
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%
$3,340,820
$3.3M
Cap Rate 7%
$2,386,300
$2.4M
Cap Rate 9%
$1,856,011
$1.9M
Market Conditions
NOI Build-Up for 21,000 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
$330.1K $15.72/SF
− Vacancy
−$26.4K −$1.26/SF
EGI
$303.7K $14.46/SF
− OpEx
−$136.7K −$6.51/SF
NOI
$167.0K $7.95/SF
Area
Dauphin County, PA
Vacancy
8.00%
Lease Rate
$15.72 /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%
$3,340,820
Cap Rate 7%
$2,386,300
Cap Rate 9%
$1,856,011
Alternative Uses
Best Use
Apartment 5plus
$2.39M
$2.09M – $2.78M
NOI $167,041 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$38.68M
$33.84M – $45.12M
NOI $2,707,425 @ 7.0% cap · market cap 77.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 17104, PA
20,058
Population
8,700
Households
2.3
Avg Household Size
32
Median Age
17%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
5,899
Density / Sq Mi
$42,113
Median Household Income
$31,319
Median Earnings
$953
Median Rent
$102,200
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 - Thirty residential units are separately metered for water, sewer, gas, and electric with washer/dryer hookups.
Where is this apartment building located?
The property is located at 1315 Rolleston St Harrisburg, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 30‑unit multifamily residential property in Harrisburg, PA, built in 1959; Approximately 21,000 rentable SF of residential units; Each unit is separately metered for water, sewer, gas, and electric
