Four-Unit Masonry
New
For Sale
$515,000
150 WALNUT Street, Columbia, PA 17512
Multi-Family, COLUMBIA, PA
Property Size4,677 SF
Lot Size0.09 Acres
Price / SF$110.11
Days on Market2
Property Features for 150 WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking
4
Parking features
Parking Lot
Elementary school district
COLUMBIA BOROUGH
Middle school district
COLUMBIA BOROUGH
High school district
COLUMBIA BOROUGH
Standard status
Active
Size
4,677 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4561
Utilities
Heating system
Electric (Heating), Baseboard, Forced Air
Cooling system
Central Air
Amenities
on-site parking
laundry hookups
Building Details
Year built
1840
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(717) 553-2500
Listed By:
David Garpstas · License #RS329082
(717) 208-0253
Added: Sep 11
Last Checked: Sep 12 at 3:06AM
MLS# PALA2095212
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.
Investment Insights
Based on property information with market context.
This four-unit masonry quadplex contains 4,677 square feet and was built in 1840. Each apartment includes laundry hookups, while on-site parking serves the property. Two units have been remodeled, and the other two provide an opportunity for additional updates. Heating is provided by electric baseboard and forced-air systems, with central air conditioning.
The property is in Columbia's Walnut Street revitalization area, directly adjacent to the new Hampton Inn. Shops, dining, and the Northwest River Trail are accessible from the property. The owner currently pays water, sewer, and trash, and all four units are leased. A neighboring fully leased four-unit property at 152 Walnut Street is also available.
The property is in Columbia's Walnut Street revitalization area, directly adjacent to the new Hampton Inn. Shops, dining, and the Northwest River Trail are accessible from the property. The owner currently pays water, sewer, and trash, and all four units are leased. A neighboring fully leased four-unit property at 152 Walnut Street is also available.
Key Highlights
- Fully leased 4‑unit residential income property
- 4,677 square feet on 0.09 acres
- Two remodeled units; two additional units offer update potential
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
$46,071
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
8.95%
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%
$921,420
$921.4K
Cap Rate 7%
$658,157
$658.2K
Cap Rate 9%
$511,900
$511.9K
Market Conditions
NOI Build-Up for 4,677 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
$84.2K $18.00/SF
− Vacancy
−$421 −$0.09/SF
EGI
$83.8K $17.91/SF
− OpEx
−$37.7K −$8.06/SF
NOI
$46.1K $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 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%
$921,420
Cap Rate 7%
$658,157
Cap Rate 9%
$511,900
Alternative Uses
Best Use
Multifamily LT 5
$746.3K
$653.0K – $870.7K
NOI $52,242 @ 7.0% cap · market cap 10.14%
Second Best
Apartment 5plus
$658.2K
$575.9K – $767.9K
NOI $46,071 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,710 @ 7.0% cap · market cap 21.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 17512, PA
18,267
Population
8,255
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
16.0 sq mi
ZIP Area
1,142
Density / Sq Mi
$61,130
Median Household Income
$42,702
Median Earnings
$1,067
Median Rent
$221,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential income property with on-site parking, unit laundry hookups, and two remodeled apartments.
Where is this quadplex located?
The property is located at 150 WALNUT Street Columbia, PA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Fully leased 4‑unit residential income property; 4,677 square feet on 0.09 acres; Two remodeled units; two additional units offer update potential
