Four-Unit Masonry
New
For Sale
$499,000
152 WALNUT Street, Columbia, PA 17512
Multi-Family, COLUMBIA, PA
Property Size4,436 SF
Lot Size0.07 Acres
Price / SF$112.49
Days on Market1
Property Features for 152 WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
Elementary school district
COLUMBIA BOROUGH
Middle school district
COLUMBIA BOROUGH
High school district
COLUMBIA BOROUGH
Standard status
Active
Size
4,436 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5145
Utilities
Heating system
Forced Air, Baseboard, Electric (Heating)
Cooling system
Central Air
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 11 at 11:06PM
MLS# PALA2095260
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.
Built in 1840, this 4,436-square-foot masonry property contains four residential units and includes basement space. The building has central air along with forced-air, baseboard, and electric heating systems. On-street parking serves the property, and several updates have been completed. The owner currently pays water for Apartments 1 and 4, plus sewer and trash service.
The property is located at 152 Walnut Street in Columbia, Pennsylvania, within the Walnut Street revitalization area. Local shops, dining, and the Northwest River Trail are accessible from the neighborhood, while the nearby Hampton Inn is identified as a recent area investment. The 0.07-acre parcel offers a compact residential income configuration in Lancaster County.
The property is located at 152 Walnut Street in Columbia, Pennsylvania, within the Walnut Street revitalization area. Local shops, dining, and the Northwest River Trail are accessible from the neighborhood, while the nearby Hampton Inn is identified as a recent area investment. The 0.07-acre parcel offers a compact residential income configuration in Lancaster County.
Key Highlights
- Four residential units in a 4,436‑square‑foot masonry building
- 0.07‑acre parcel at 152 Walnut Street in Columbia, PA 17512
- Built in 1840 with several completed updates
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
$43,697
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
8.76%
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%
$873,940
$873.9K
Cap Rate 7%
$624,243
$624.2K
Cap Rate 9%
$485,522
$485.5K
Market Conditions
NOI Build-Up for 4,436 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
$79.8K $18.00/SF
− Vacancy
−$399 −$0.09/SF
EGI
$79.4K $17.91/SF
− OpEx
−$35.8K −$8.06/SF
NOI
$43.7K $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%
$873,940
Cap Rate 7%
$624,243
Cap Rate 9%
$485,522
Alternative Uses
Best Use
Multifamily LT 5
$707.9K
$619.4K – $825.8K
NOI $49,550 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$624.2K
$546.2K – $728.3K
NOI $43,697 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,057 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
627
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with central air, basement space, and on-street parking.
Where is this quadplex located?
The property is located at 152 WALNUT Street Columbia, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four residential units in a 4,436‑square‑foot masonry building; 0.07‑acre parcel at 152 Walnut Street in Columbia, PA 17512; Built in 1840 with several completed updates
