4-Unit Apartment
For Sale
$542,500
244 - 246 N MARKET ST, Elizabethtown, PA 17022
Fully occupied apartment property with separate utilities, replacement windows, and a new rubber roof.
Property Size1,744 SF
Price / SF$311.07
Days on Market97
Property Features for 244 - 246 N MARKET ST
General Information
Standard status
Active
Size
1,744 SF
Total Parking Spaces
4
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Gross Income
$55,320
Utilities to Site
Yes
Listing Agency:
Coldwell Banker Realty
(717) 735-8400
Listed By:
Wendell Huyard · License #3234389
(717) 629-2227
Source:
Sandrasellstheshore
Added: Jul 10
Changed: Oct 1
Last Checked: Oct 12 at 8:29PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This detached multifamily property contains four two-bedroom apartments, with two units offering a separate privacy bedroom. Each apartment includes a kitchen stove and refrigerator. The building has replacement windows, a new rubber roof, and hot water natural gas heat. Utilities are individually split for water, sewer, trash, gas, and electric.
All four apartments are currently rented. The property also provides off-street parking for four cars at the rear. Built in 1900, the building offers an established residential income configuration with separate apartment utility responsibility.
All four apartments are currently rented. The property also provides off-street parking for four cars at the rear. Built in 1900, the building offers an established residential income configuration with separate apartment utility responsibility.
Key Highlights
- Four 2‑bedroom apartments, including two units with a privacy bedroom
- All units are currently rented
- Replacement windows and new rubber roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,480
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,600
$389.6K
Cap Rate 7%
$278,286
$278.3K
Cap Rate 9%
$216,444
$216.4K
Market Conditions
NOI Build-Up for 1,744 SF
Gross rent
$28.3K $16.20/SF
− Vacancy
−$424 −$0.24/SF
EGI
$27.8K $15.96/SF
− OpEx
−$8.3K −$4.79/SF
NOI
$19.5K $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%
$389,600
Cap Rate 7%
$278,286
Cap Rate 9%
$216,444
Alternative Uses
Best Use
Multifamily LT 5
$278.3K
$243.5K – $324.7K
NOI $19,480 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$245.4K
$214.7K – $286.3K
NOI $17,179 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$584.4K
$511.4K – $681.8K
NOI $40,910 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 17022, PA
31,163
Population
12,950
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
55.0 sq mi
ZIP Area
567
Density / Sq Mi
$79,075
Median Household Income
$42,844
Median Earnings
$1,381
Median Rent
$272,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied apartment property with separate utilities, replacement windows, and a new rubber roof.
Where is this quadplex located?
The property is located at 244 - 246 N MARKET ST Elizabethtown, PA.
What is the asking price?
The asking price for this property is $542,500.
What are key features of this property?
This property features: Four 2‑bedroom apartments, including two units with a privacy bedroom; All units are currently rented; Replacement windows and new rubber roof
