8-Unit Apartment
For Sale
$1,050,000
1338 Chambersburg Rd, Gettysburg, PA 17325
Updated apartments, separate metering, on-site laundry, and dedicated parking support a practical multifamily configuration.
Property Size8,615 SF
Price / SF$121.88
Days on Market50
Property Features for 1338 Chambersburg Rd
General Information
Standard status
Active
Size
8,615 SF
Total Parking Spaces
8
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Multifamily Units
8
Parking per Unit
1
Amenities
laundry room
Building Details
Year Built
1930
Buildings
1
Listing Agency:
RE/MAX of Gettysburg
Listed By:
Alycia N Hays · License #RS293391
(717) 752-5697
Source:
Localrealestateleaders
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 7 at 3:52PM
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 RE/MAX of Gettysburg
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Investment Insights
Based on property information with market context.
This 8-unit apartment property includes five recently updated residences, with five apartments offering ground-level access. Each unit is separately metered, and residents pay their own utilities. The property is served by a private well and public sewer, adding a clearly defined utility setup for the building.
Additional improvements include a separate laundry room equipped with coin-operated machines, along with garage and storage space. Every apartment has one assigned parking space, while additional parking is available at the rear. The property is located within the Gettysburg Area School District and near historic downtown Gettysburg, shopping, dining, and other area amenities.
Additional improvements include a separate laundry room equipped with coin-operated machines, along with garage and storage space. Every apartment has one assigned parking space, while additional parking is available at the rear. The property is located within the Gettysburg Area School District and near historic downtown Gettysburg, shopping, dining, and other area amenities.
Key Highlights
- 8‑unit apartment building with 5 recently updated units
- 5 apartments offer ground‑level entry
- Separately metered units; tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,499
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,980
$730.0K
Cap Rate 7%
$521,414
$521.4K
Cap Rate 9%
$405,544
$405.5K
Market Conditions
NOI Build-Up for 8,615 SF
Gross rent
$70.3K $8.16/SF
− Vacancy
−$3.9K −$0.46/SF
EGI
$66.4K $7.70/SF
− OpEx
−$29.9K −$3.47/SF
NOI
$36.5K $4.24/SF
Area
Adams County, PA
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,980
Cap Rate 7%
$521,414
Cap Rate 9%
$405,544
Alternative Uses
Best Use
Apartment 5plus
$521.4K
$456.2K – $608.3K
NOI $36,499 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,069 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
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 - Updated apartments, separate metering, on-site laundry, and dedicated parking support a practical multifamily configuration.
Where is this apartment building located?
The property is located at 1338 Chambersburg Rd Gettysburg, PA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8‑unit apartment building with 5 recently updated units; 5 apartments offer ground‑level entry; Separately metered units; tenants pay their own utilities
