Listing Agency: Keller Williams Keystone Realty Show Phone

Listed By: Elisabeth P. Hamberger · License #AB068074 Show Phone

Source: Hostetterrealty

Added: Aug 17 Changed: Sep 28 Last Checked: Oct 5 at 6:12PM

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Investment Insights

Based on property information with market context.

This multifamily property at 1801 Church St in Lebanon, PA includes three residential units across a main residence and a manufactured home. The primary structure contains two separate apartments, with one on each floor. Each apartment has three bedrooms and one full bathroom. A 2022 manufactured home adds a third residence with three bedrooms and two full bathrooms.

The property occupies a corner lot in a residential setting just outside of town. Separate gas and electric utilities serve each unit, supporting straightforward utility management. A detached garage provides additional storage and parking space, along with potential rental use.

Key Highlights

• Three residential rental units across two structures
• Main residence divided into two apartments, one per floor
• Each main‑house apartment includes 3 bedrooms and 1 full bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,512

Cap Rate

8.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$690,240 $690.2K

Cap Rate 7%

$493,029 $493.0K

Cap Rate 9%

$383,467 $383.5K

Market Conditions

NOI Build-Up for 4,156 SF

Gross rent

$67.3K $16.20/SF

− Vacancy

−$4.6K −$1.10/SF

EGI

$62.7K $15.10/SF

− OpEx

−$28.2K −$6.79/SF

NOI

$34.5K $8.30/SF

Area

Lebanon County, PA

Vacancy

6.80%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$690,240

Cap Rate 7%

$493,029

Cap Rate 9%

$383,467

Alternative Uses

Best Use

Multifamily LT 5

$530.5K

$464.2K – $618.9K (±1% cap)

NOI $37,136 @ 7.0% cap · market cap 9.28%

Second Best

Apartment 5plus

$493.0K

$431.4K – $575.2K (±1% cap)

NOI $34,512 @ 7.0% cap · market cap 8.63%

Theoretical Best

Office A

$975.5K

$853.6K – $1.14M (±1% cap)

NOI $68,285 @ 7.0% cap · market cap 17.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Skin Care Clinic HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

454

Businesses Nearby

Explore this area Business Placement

Demographics for 17046, PA

31,272

Population

13,570

Households

2.3

Avg Household Size

39

Median Age

12%

College-Educated

84%

High-School Grad

38.9 sq mi

ZIP Area

804

Density / Sq Mi

$59,633

Median Household Income

$37,261

Median Earnings

$1,036

Median Rent

$180,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two apartments in the main residence are complemented by a 2022 manufactured home and detached garage.

Where is this multifamily property located?

The property is located at 1801 CHURCH ST Lebanon, PA.

What is the asking price?

The asking price for this property is $399,995.

What are key features of this property?

This property features: Three residential rental units across two structures; Main residence divided into two apartments, one per floor; Each main‑house apartment includes 3 bedrooms and 1 full bathroom