Occupied 2-Unit
New
For Sale
$195,000
216 LEHMAN STREET, Lebanon, PA 17046
Each apartment has its own gas meter, furnace, and water heater.
Property Size1,380 SF
Price / SF$141.30
Days on Market5
Property Features for 216 LEHMAN STREET
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Gross Income
$21,600
Utilities to Site
Yes
Building Details
Year Built
1910
Listing Agency:
Keller Williams Elite
(717) 367-2400
Listed By:
Nathan Shelly · License #RS333019
(717) 606-5693
Source:
Cummingsrealtors
Added: Oct 10
Changed: Oct 13
Last Checked: Oct 13 at 2:26AM
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 Elite
Investment Insights
Based on property information with market context.
This 1,380-square-foot duplex, built in 1910, contains two occupied apartments: an upper two-bedroom unit and a lower one-bedroom unit. Each has a dedicated gas meter, furnace, and water heater. The owner pays for water, sewer, and trash service; tenants cover their own heat and hot water.
The property is in Lebanon, near downtown, shopping, and routes connecting toward Hershey, Harrisburg, and Lancaster.
The property is in Lebanon, near downtown, shopping, and routes connecting toward Hershey, Harrisburg, and Lancaster.
Key Highlights
- Two occupied apartments: an upper 2‑bedroom unit and a lower 1‑bedroom unit
- 1,380 square feet; built in 1910
- Separate gas meter, furnace, and water heater for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,331
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,620
$246.6K
Cap Rate 7%
$176,157
$176.2K
Cap Rate 9%
$137,011
$137.0K
Market Conditions
NOI Build-Up for 1,380 SF
Gross rent
$19.0K $13.80/SF
− Vacancy
−$1.4K −$1.04/SF
EGI
$17.6K $12.77/SF
− OpEx
−$5.3K −$3.83/SF
NOI
$12.3K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,620
Cap Rate 7%
$176,157
Cap Rate 9%
$137,011
Alternative Uses
Best Use
Multifamily LT 5
$176.2K
$154.1K – $205.5K
NOI $12,331 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$163.7K
$143.3K – $191.0K
NOI $11,460 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$323.9K
$283.4K – $377.9K
NOI $22,674 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,459
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has its own gas meter, furnace, and water heater.
Where is this duplex located?
The property is located at 216 LEHMAN STREET Lebanon, PA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two occupied apartments: an upper 2‑bedroom unit and a lower 1‑bedroom unit; 1,380 square feet; built in 1910; Separate gas meter, furnace, and water heater for each unit
