Four-Unit Residential Income
19 & 23 NURSERY Lane Lancaster, PA 17603
For Sale
$625,000
MULTI_FAMILY - Ranch - LANCASTER, PA
Property Size1,680 SF
Lot Size0.23 Acres
Price / SF$372.02
Days on Market47
Property Features for 19 & 23 NURSERY Lane
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Rooms
Basement
Parking
4
Parking features
Driveway
Standard status
Active
Size
1,680 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
2985
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1957
Number of units
4
Building materials
Frame, Vinyl Siding
Architectural style
Ranch
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 291-9101
Listed By:
Anne M Lusk · License #RS210178L
(717) 271-9339
Added: Jun 12
Changed: Jun 29
Last Checked: Jul 27 at 11:06PM
MLS# PALA2089876
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.
This four-unit quadplex at 19 & 23 Nursery Lane includes one two-bedroom, one-bath apartment and three one-bedroom, one-bath units. The units are described as well-maintained and many feature luxury vinyl plank flooring along with carpeted areas. Each unit has its own separate entrance, supporting practical day-to-day privacy and tenant access, while the property also includes outdoor yard space and a private driveway with ample off-street parking. The site totals 0.23 acres and the property size is listed at 1,680 square feet.
The property is located in Lancaster, Pennsylvania, and is presented as offering convenient access to shopping, dining, and major commuter routes. Off-street parking and a private driveway help reduce reliance on on-street spaces for tenants and visitors.
As a residential income property, the layout offers a mix of one-bedroom and two-bedroom configurations within a single building, which can support different household needs. The combination of separate entrances, on-site parking, and a maintained exterior and yard area can be appealing to buyers or operators looking for a manageable, multi-tenant setup.
The property is located in Lancaster, Pennsylvania, and is presented as offering convenient access to shopping, dining, and major commuter routes. Off-street parking and a private driveway help reduce reliance on on-street spaces for tenants and visitors.
As a residential income property, the layout offers a mix of one-bedroom and two-bedroom configurations within a single building, which can support different household needs. The combination of separate entrances, on-site parking, and a maintained exterior and yard area can be appealing to buyers or operators looking for a manageable, multi-tenant setup.
Key Highlights
- Ranch‑style multi‑unit property built in 1957 with frame and vinyl siding construction
- Four rental units total: one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units
- Window unit cooling and baseboard/electric heating
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 | $27.2k | $16.20 |
| − Vacancy | −$408 | −$0.24 |
| EGI | $26.8k | $15.96 |
| − OpEx | −$8.0k | −$4.79 |
| NOI | $18.8k | $11.17 |
1,680 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,765 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,408 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit property with separate entrances, off-street parking, and yard space in Lancaster, PA.
Where is this quadplex located?
The property is located at 19 & 23 NURSERY Lane Lancaster, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Ranch‑style multi‑unit property built in 1957 with frame and vinyl siding construction; Four rental units total: one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units; Window unit cooling and baseboard/electric heating
