Four-Unit Apartment
154-158 West Main Street Leola, PA 17540
For Sale
$495,000
Fully leased quadplex with four two-bedroom, one-bath units across two floors in Upper Leacock Township.
Property Size3,300 SF
Price / SF$150
Days on Market76
Property Features for 154-158 West Main Street
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing Agency:
Bennett Williams Realty, Inc.
(717) 383-6647
Listed By:
Joshua Miller · License #RS365967
(717) 383-6647
Source:
Compass
Added: May 9
Changed: Jul 23
Last Checked: Jul 23 at 5:24AM
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 Bennett Williams Realty, Inc.
Investment Insights
Based on property information with market context.
This four-unit multifamily property is configured as two first-floor units and two second-floor units, with each unit offering two bedrooms and one bathroom. The building is fully leased, providing in-place rental income.
The property is located in Upper Leacock Township in Lancaster County, in the Conestoga Valley School District. It sits within a quiet residential setting and offers convenient access to Lancaster and surrounding employment and retail corridors.
As described in the offering, current gross annual income is approximately $44,160 with a current NOI of approximately $30,141. The seller also references a pro forma outlook with modest rent increases and utility reimbursement implementation, projecting approximately $46,200 in gross annual income and approximately $39,346 in NOI.
The property is located in Upper Leacock Township in Lancaster County, in the Conestoga Valley School District. It sits within a quiet residential setting and offers convenient access to Lancaster and surrounding employment and retail corridors.
As described in the offering, current gross annual income is approximately $44,160 with a current NOI of approximately $30,141. The seller also references a pro forma outlook with modest rent increases and utility reimbursement implementation, projecting approximately $46,200 in gross annual income and approximately $39,346 in NOI.
Key Highlights
- Fully leased 4‑unit multifamily property in Upper Leacock Township
- Four 2‑bedroom, 1‑bath units: two on the first floor and two on the second floor
- Current gross annual income is approximately $44,160 with current NOI of approximately $30,141
Financial Insights For Multifamily LT 5
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 | $53.5k | $16.20 |
| − Vacancy | −$802 | −$0.24 |
| EGI | $52.7k | $15.96 |
| − OpEx | −$15.8k | −$4.79 |
| NOI | $36.9k | $11.17 |
3,300 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$526.6K
$460.8K – $614.4K
NOI $36,861 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$464.4K
$406.3K – $541.8K
NOI $32,507 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$1.11M
$967.6K – $1.29M
NOI $77,409 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully leased quadplex with four two-bedroom, one-bath units across two floors in Upper Leacock Township.
Where is this quadplex located?
The property is located at 154-158 West Main Street Leola, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fully leased 4‑unit multifamily property in Upper Leacock Township; Four 2‑bedroom, 1‑bath units: two on the first floor and two on the second floor; Current gross annual income is approximately $44,160 with current NOI of approximately $30,141
