12-Unit Townhome Apartment
For Sale
$3,600,000
2420 & 2433 Newtown Drive, Harrisburg, PA 17110
Two adjacent multifamily buildings offer multi-level townhome layouts in an established residential setting.
Property Size20,976 SF
Days on Market54
Property Features for 2420 & 2433 Newtown Drive
General Information
Standard status
Active
Size
20,976 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
12
Building Details
Building Size
20,976 SF
Year Built
2011
Buildings
2
Listing Agency:
NAI CIR
Listed By:
Amber Corbo · License #RS351891
(717) 395-1804
Source:
Circommercial
Added: Aug 15
Changed: Sep 11
Last Checked: Oct 7 at 11:08AM
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 NAI CIR
Investment Insights
Based on property information with market context.
This residential income property includes two adjacent multifamily buildings at 2420 Newtown Drive and 2433 Newtown Drive, comprising 12 townhome units. Built in 2011, the portfolio features multi-level living arrangements that distinguish the residences from conventional apartment layouts.
The property is situated in an established residential neighborhood in Harrisburg, with access to I-81, I-83, Route 22, and downtown Harrisburg. Shopping centers, restaurants, healthcare facilities, and major employers are located minutes away, adding convenience for residents and supporting the property's practical residential setting.
The property is situated in an established residential neighborhood in Harrisburg, with access to I-81, I-83, Route 22, and downtown Harrisburg. Shopping centers, restaurants, healthcare facilities, and major employers are located minutes away, adding convenience for residents and supporting the property's practical residential setting.
Key Highlights
- 12‑unit townhome portfolio across two adjacent multifamily buildings
- Located at 2420 Newtown Drive and 2433 Newtown Drive
- Built in 2011
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,850
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,337,000
$3.3M
Cap Rate 7%
$2,383,571
$2.4M
Cap Rate 9%
$1,853,889
$1.9M
Market Conditions
NOI Build-Up for 20,976 SF
Gross rent
$329.7K $15.72/SF
− Vacancy
−$26.4K −$1.26/SF
EGI
$303.4K $14.46/SF
− OpEx
−$136.5K −$6.51/SF
NOI
$166.8K $7.95/SF
Area
Dauphin County, PA
Vacancy
8.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,337,000
Cap Rate 7%
$2,383,571
Cap Rate 9%
$1,853,889
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.09M – $2.78M
NOI $166,850 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$38.63M
$33.80M – $45.07M
NOI $2,704,331 @ 7.0% cap · market cap 75.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 17110, PA
27,239
Population
12,246
Households
2.2
Avg Household Size
40
Median Age
41%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
1,828
Density / Sq Mi
$79,499
Median Household Income
$51,428
Median Earnings
$1,400
Median Rent
$206,200
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?
Apartment building - Two adjacent multifamily buildings offer multi-level townhome layouts in an established residential setting.
Where is this apartment building located?
The property is located at 2420 & 2433 Newtown Drive Harrisburg, PA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 12‑unit townhome portfolio across two adjacent multifamily buildings; Located at 2420 Newtown Drive and 2433 Newtown Drive; Built in 2011
