Detached Three-Unit
For Sale
$425,000
234 S 22ND ST, Lebanon, PA 17042
Multifamily property with varied unit layouts and an oversized garage.
Property Size4,000 SF
Price / SF$106.25
Days on Market56
Property Features for 234 S 22ND ST
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR, 2 x 2BR/1.5BA
Multifamily Units
3
Building Details
Buildings
1
Listing Agency:
Reich Realty
Listed By:
Thomas Deck
(717) 273-8861
Source:
Imanirealtors
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 30 at 2:18PM
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 Reich Realty
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Investment Insights
Based on property information with market context.
This detached multifamily property contains three residential units within approximately 4,000 square feet. The first unit offers three bedrooms, a 20-by-30-foot addition, and an oversized garage accommodating more than two cars. The second and third units each provide two bedrooms and one and a half baths.
Located at 234 S 22ND ST in Lebanon, Pennsylvania, the property combines separate unit layouts with substantial on-site garage space. Its three-unit configuration provides a clear multifamily format in a detached building.
Located at 234 S 22ND ST in Lebanon, Pennsylvania, the property combines separate unit layouts with substantial on-site garage space. Its three-unit configuration provides a clear multifamily format in a detached building.
Key Highlights
- Three‑unit detached multifamily property
- Approximately 4,000 square feet
- Unit 1 includes 3 bedrooms and a 20 x 30 addition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,742
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,840
$714.8K
Cap Rate 7%
$510,600
$510.6K
Cap Rate 9%
$397,133
$397.1K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$55.2K $13.80/SF
− Vacancy
−$4.1K −$1.04/SF
EGI
$51.1K $12.77/SF
− OpEx
−$15.3K −$3.83/SF
NOI
$35.7K $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%
$714,840
Cap Rate 7%
$510,600
Cap Rate 9%
$397,133
Alternative Uses
Best Use
Multifamily LT 5
$510.6K
$446.8K – $595.7K
NOI $35,742 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$474.5K
$415.2K – $553.6K
NOI $33,216 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$938.9K
$821.5K – $1.10M
NOI $65,722 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
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Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with varied unit layouts and an oversized garage.
Where is this triplex located?
The property is located at 234 S 22ND ST Lebanon, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit detached multifamily property; Approximately 4,000 square feet; Unit 1 includes 3 bedrooms and a 20 x 30 addition
