4-Unit
19 & 23 NURSERY Lane, Lancaster, PA 17603
For Sale
$599,950
Multi-Family, LANCASTER, PA
Property Size1,680 SF
Lot Size0.23 Acres
Price / SF$357.11
Days on Market12
Property Features for 19 & 23 NURSERY Lane
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Amenities
private driveway
off-street parking
outdoor yard space
separate entrances
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 291-9101
Listed By:
Anne M Lusk · License PA RS210178L
(717) 271-9339
Added: Nov 2
Changed: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# PALA2097656
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.
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Investment Insights
Based on property information with market context.
This 1,680-square-foot quadplex contains four rental apartments: one two-bedroom, one-bath unit and three one-bedroom, one-bath units. Most apartments have luxury vinyl plank flooring and carpet, and each unit has a separate entrance. The property was built in 1957 and occupies 0.23 acres. A private driveway and yard space are also included.
Key Highlights
- Four apartments: one two‑bedroom, one‑bath unit and three one‑bedroom, one‑bath units
- 1,680 square feet on 0.23 acres
- Separate entrance for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,765
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,300
$375.3K
Cap Rate 7%
$268,071
$268.1K
Cap Rate 9%
$208,500
$208.5K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$27.2K $16.20/SF
− Vacancy
−$408 −$0.24/SF
EGI
$26.8K $15.96/SF
− OpEx
−$8.0K −$4.79/SF
NOI
$18.8K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,300
Cap Rate 7%
$268,071
Cap Rate 9%
$208,500
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,765 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,408 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
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Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Lancaster County, PA
Properties on Market for Quadplexes in Lancaster County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The residential property includes a mix of one- and two-bedroom apartments with separate entrances.
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 $599,950.
What are key features of this property?
This property features: Four apartments: one two‑bedroom, one‑bath unit and three one‑bedroom, one‑bath units; 1,680 square feet on 0.23 acres; Separate entrance for each apartment
