Eight-Unit Apartment Building with
315 N Front Street Harrisburg, PA 17101
315 N Front Street, Harrisburg, PA, 17101
$995,000
For Sale
$995,000
Eight-unit multifamily with off-street parking, a 2-car garage, and recent roof replacements.
Property Size8,560 SF
Price / SF$116.24
Days on Market401
Property Features for 315 N Front Street
General Information
- Standard status
- Active
- Size
- 8,560 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1850
Listing Agency
Iron Valley Real Estate of Central PA
Listed by
Wendell Hoover
Source
Deepcreeklake
Added: Jun 14, 2025 Checked: Jul 19 at 7:18 am
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 Iron Valley Real Estate of Central PA
Investment Insights
Based on property information with market context.
This property is an eight-unit apartment building featuring a unit mix of three-bedroom, two-bedroom, and one-bedroom homes. The building includes parking and storage with seven off-street parking spaces, plus a 2-car garage. Recent capital work includes replacement of all roofs, and interior renovations are underway with some units still requiring completion.
Located at 315 N Front Street in Harrisburg, the property is not in the flood plain and offers exceptional river views. It sits directly across from City Island and is walkable to downtown, restaurants, and commuter routes.
For owners or operators seeking a well-defined income property, the combination of updated roofing and ongoing interior renovation work can support leasing and unit turnover goals. The listing also notes that more than $200,000 in approved tax credits are available to the next owner.
Located at 315 N Front Street in Harrisburg, the property is not in the flood plain and offers exceptional river views. It sits directly across from City Island and is walkable to downtown, restaurants, and commuter routes.
For owners or operators seeking a well-defined income property, the combination of updated roofing and ongoing interior renovation work can support leasing and unit turnover goals. The listing also notes that more than $200,000 in approved tax credits are available to the next owner.
Key Highlights
- 8‑unit apartment building (1 three‑bedroom, 2 two‑bedroom, 5 one‑bedroom units)
- 7 off‑street parking spaces plus a 2‑car garage
- Roofs replaced; interior renovations underway with some still needing completion
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.6k | $15.72 |
| − Vacancy | −$10.8k | −$1.26 |
| EGI | $123.8k | $14.46 |
| − OpEx | −$55.7k | −$6.51 |
| NOI | $68.1k | $7.95 |
8,560 SF · lease $15.72/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$972.7K
$851.1K – $1.13M
NOI $68,089 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.77M
$13.79M – $18.39M
NOI $1,103,598 @ 7.0% cap · market cap 110.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kevin D. Gillespie, ...
Law Firm
Grossman Bruce J
Law Firm
Vanguard
(Bike/Boat/Book/etc) Store
Young Professionals of Color--Greater ...
Community Center
Hurston Manor
Corporate Office
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FAQs
What type of property is this?
Apartment building - Eight-unit multifamily with off-street parking, a 2-car garage, and recent roof replacements.
Where is this apartment building located?
The property is located at 315 N Front Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 8‑unit apartment building (1 three‑bedroom, 2 two‑bedroom, 5 one‑bedroom units); 7 off‑street parking spaces plus a 2‑car garage; Roofs replaced; interior renovations underway with some still needing completion
