4-Unit Multifamily with Separate
37-39 E Willow St, Elizabethtown, PA 17022
Well-maintained four-unit property with two 1-bedroom and two 2-bedroom units, each with separate utilities.
Type:Multifamily
Property size:
3,084 SFPrice / SF:
$186/SF- Added:
- Jun 18, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 24 at 2:37 am
Property Features for 37-39 E Willow St
General Information
- Standard status
- Active
- Size
- 3,084 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing office Hostetter Realty
Listing date Jun 18, 2026
Source Crexi
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 Hostetter Realty
HighLights
- Well‑maintained 4‑unit investment property (year built 1900) with two 1‑bedroom and two 2‑bedroom units
- Separate utilities for each unit, supporting easier management
- Generates $45,000 in annual income (as stated) with potential for rent increases
- Recent improvements include a new roof, new windows, and new sewer lines to the street
- Off‑street parking with newly installed blacktop
- Front porch is scheduled to be professionally painted in June (per remarks)
Overview
This well-maintained 4-unit multifamily property is configured with two 1-bedroom units and two 2-bedroom units. The units have separate utilities, which can simplify billing and day-to-day management. Recent improvements include a new roof, new windows, and new sewer lines to the street. The front porch is scheduled to be professionally painted in June.
Located in the Central Business District, the property is positioned for tenants who want convenient access to downtown amenities. The surrounding area includes nearby shopping, dining, and transportation options. Off-street parking is provided, and the parking area has newly installed blacktop.
For investors or buyers seeking a small, income-producing rental asset, this structure offers a straightforward unit mix of 1- and 2-bedroom homes with independent utility services. With the notable exterior and infrastructure updates already completed, the property may help reduce certain near-term maintenance items while maintaining the flexibility that comes with multiple separate units.
Located in the Central Business District, the property is positioned for tenants who want convenient access to downtown amenities. The surrounding area includes nearby shopping, dining, and transportation options. Off-street parking is provided, and the parking area has newly installed blacktop.
For investors or buyers seeking a small, income-producing rental asset, this structure offers a straightforward unit mix of 1- and 2-bedroom homes with independent utility services. With the notable exterior and infrastructure updates already completed, the property may help reduce certain near-term maintenance items while maintaining the flexibility that comes with multiple separate units.
Local Financial Insights For Multifamily LT 5
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 | $50.0k | $16.20 |
| − Vacancy | −$749 | −$0.24 |
| EGI | $49.2k | $15.96 |
| − OpEx | −$14.8k | −$4.79 |
| NOI | $34.4k | $11.17 |
3,084 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$492.1K
$430.6K – $574.1K
NOI $34,448 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$434.0K
$379.7K – $506.3K
NOI $30,379 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.03M
$904.3K – $1.21M
NOI $72,343 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Elizabethtown
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.6072377
- Latitude
- 40.1546471
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit property with two 1-bedroom and two 2-bedroom units, each with separate utilities.
Where is this quadplex located?
The property is located at 37-39 E Willow St Elizabethtown, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Well‑maintained 4‑unit investment property (year built 1900) with two 1‑bedroom and two 2‑bedroom units; Separate utilities for each unit, supporting easier management; Generates $45,000 in annual income (as stated) with potential for rent increases
