Well-Maintained Four-Unit
1708 Graylock Street Lancaster, OH 43130
1708 Graylock Street, Lancaster, OH, 43130
$400,000
For Sale
$400,000
Each unit includes in-unit washer and dryer, with tenants paying separately metered electric and water.
Property Size3,600 SF
Price / SF$111.11
Days on Market21
Property Features for 1708 Graylock Street
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Multi-Family / Townhouse
Building Details
- Year Built
- 1994
Listing agency
Keller Williams Consultants
(614) 565-6858
Listed by
Jeffrey A Messmer · License #2012000287
(614) 565-6858
Source
Compass
Added: Jul 2 Updated: Jul 22 at 3:46PM Checked: Jul 22 at 3:46PM
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 Keller Williams Consultants
Investment Insights
Based on property information with market context.
Well-maintained four-unit quadplex offered for sale, with each unit featuring two bedrooms, one bathroom, and in-unit washer and dryer. The property’s electric and water services are separately metered for tenant billing, and tenants are responsible for all utilities. The building has been consistently maintained, with many major mechanical updates completed within the past five years.
The property has remained fully occupied, with a waiting list reported whenever a unit becomes available, indicating steady rental demand. Current rents are stated at $800 per month per unit, with leases converting to month-to-month at the end of August 2026. The listing also notes potential for increased income, citing comparable two-bedroom units leasing between $1,000 and $1,200 per month in the area.
Located at 1708 Graylock Street in Lancaster, OH, showings are allowed within 48 hours of accepted offer.
The property has remained fully occupied, with a waiting list reported whenever a unit becomes available, indicating steady rental demand. Current rents are stated at $800 per month per unit, with leases converting to month-to-month at the end of August 2026. The listing also notes potential for increased income, citing comparable two-bedroom units leasing between $1,000 and $1,200 per month in the area.
Located at 1708 Graylock Street in Lancaster, OH, showings are allowed within 48 hours of accepted offer.
Key Highlights
- Four‑unit property built in 1994 with 2BR/1BA units
- Each unit offers 900 SF of living space and includes in‑unit washer and dryer
- Tenants pay separately metered electric and water service
Local 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 | $54.0k | $15.00 |
| − Vacancy | −$3.8k | −$1.07 |
| EGI | $50.2k | $13.93 |
| − OpEx | −$15.0k | −$4.18 |
| NOI | $35.1k | $9.75 |
3,600 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$501.6K
$438.9K – $585.2K
NOI $35,109 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$455.3K
$398.4K – $531.1K
NOI $31,868 @ 7.0% cap · market cap 7.97%
Theoretical Best
Warehouse
$725.6K
$634.9K – $846.5K
NOI $50,791 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Each unit includes in-unit washer and dryer, with tenants paying separately metered electric and water.
Where is this quadplex located?
The property is located at 1708 Graylock Street Lancaster, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit property built in 1994 with 2BR/1BA units; Each unit offers 900 SF of living space and includes in‑unit washer and dryer; Tenants pay separately metered electric and water service
