Multifamily Property with Rental
251 & 253 E ROSS STREET, Lancaster, PA 17602
For Sale
New
$699,900
A varied residential layout combines individual room rentals, one-bedroom units, shared bathrooms, and detached garages.
Property Size3,328 SF
Price / SF$210.31
Days on Market5
Property Features for 251 & 253 E ROSS STREET
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Keller Williams Elite
(717) 285-7009
Listed By:
Jamie S Clinton · License #RS284158
(717) 468-8566
Source:
Cummingsrealtors
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 2:19PM
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
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Investment Insights
Based on property information with market context.
This 3,328-square-foot multifamily property, built in 1910, includes 12 individual rental rooms and three one-bedroom units. Three shared bathrooms serve the rooming-house layout, while two detached garages each accommodate two cars. The configuration supports several types of rental space within one property.
Key Highlights
- 12 individual rental rooms and 3 one‑bedroom units
- 3 shared bathrooms
- Two detached two‑car garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,782
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,640
$655.6K
Cap Rate 7%
$468,314
$468.3K
Cap Rate 9%
$364,244
$364.2K
Market Conditions
NOI Build-Up for 3,328 SF
Gross rent
$59.9K $18.00/SF
− Vacancy
−$300 −$0.09/SF
EGI
$59.6K $17.91/SF
− OpEx
−$26.8K −$8.06/SF
NOI
$32.8K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,640
Cap Rate 7%
$468,314
Cap Rate 9%
$364,244
Alternative Uses
Best Use
Apartment 5plus
$468.3K
$409.8K – $546.4K
NOI $32,782 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$975.8K – $1.30M
NOI $78,066 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
2,464
Businesses Nearby
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Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Lancaster County, PA
Properties on Market for Apartment buildings in Lancaster County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied residential layout combines individual room rentals, one-bedroom units, shared bathrooms, and detached garages.
Where is this apartment building located?
The property is located at 251 & 253 E ROSS STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 12 individual rental rooms and 3 one‑bedroom units; 3 shared bathrooms; Two detached two‑car garages
