Fully Leased Multifamily
1515 Esbenshade Road Lancaster, PA 17601
For Sale
$1,300,000
Six-unit multifamily property with updated interiors, well-maintained systems, and an on-site coin-operated laundry.
Property Size4,128 SF
Price / SF$314.92
Days on Market255
Property Features for 1515 Esbenshade Road
General Information
Standard status
Active
Size
4,128 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1963
Listing Agency:
Hawkstone Real Estate LLC
(610) 864-5941
Listed By:
Keith Bauer · License #RS371830
(610) 864-5941
Source:
Compass
Added: Nov 16, 2025
Changed: Jul 21
Last Checked: Jul 23 at 9:14AM
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 Hawkstone Real Estate LLC
Investment Insights
Based on property information with market context.
This multifamily building was constructed as a six-unit property and is fully leased. The units are described as being in excellent condition, with updated interiors. The building’s systems are well-maintained, and common areas are kept clean and orderly. The property also includes an on-site coin-operated laundry.
Located in Manheim Township in Lancaster County, the address is 1515 Esbenshade Road. The listing notes easy access to major roads, along with proximity to local employers, shopping, and amenities in Lancaster City.
For buyers seeking a turnkey residential income asset, the offering highlights consistently cared-for maintenance, stable occupancy, and low turnover supported by the building’s reported condition.
Located in Manheim Township in Lancaster County, the address is 1515 Esbenshade Road. The listing notes easy access to major roads, along with proximity to local employers, shopping, and amenities in Lancaster City.
For buyers seeking a turnkey residential income asset, the offering highlights consistently cared-for maintenance, stable occupancy, and low turnover supported by the building’s reported condition.
Key Highlights
- Six‑unit multifamily building with updated interiors and well‑maintained systems
- Fully leased with a stable tenant base
- Includes an on‑site coin‑operated laundry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.3k | $18.00 |
| − Vacancy | −$372 | −$0.09 |
| EGI | $73.9k | $17.91 |
| − OpEx | −$33.3k | −$8.06 |
| NOI | $40.7k | $9.85 |
4,128 SF · lease $18.00/SF/yr · vacancy 0.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$580.9K
$508.3K – $677.7K
NOI $40,663 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,832 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property with updated interiors, well-maintained systems, and an on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 1515 Esbenshade Road Lancaster, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six‑unit multifamily building with updated interiors and well‑maintained systems; Fully leased with a stable tenant base; Includes an on‑site coin‑operated laundry
