Four-Unit Multifamily with Separate
37-39 E WILLOW Street Elizabethtown, PA 17022
For Sale
$550,000
MULTI_FAMILY - Other - ELIZABETHTOWN, PA
Property Size3,084 SF
Lot Size0.10 Acres
Price / SF$178.34
Days on Market47
Property Features for 37-39 E WILLOW Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street, Off Street
Appliances
Washer/Dryer Hookups Only
Standard status
Active
Size
3,084 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4510
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1900
Number of units
4
Building materials
Aluminum Siding, Shingle Siding
Architectural style
Other
Listing Agency:
Hostetter Realty LLC
(717) 354-6416
Listed By:
John J Glick
(717) 598-7490
Added: Jun 11
Changed: Jul 13
Last Checked: Jul 27 at 10:06AM
MLS# PALA2089586
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained four-unit (quadplex) property offers two 1-bedroom units and two 2-bedroom units. Each unit is served by separate utilities, which can simplify day-to-day management. Recent improvements include a new roof, new windows, and new sewer lines to the street, helping reduce near-term maintenance concerns. The front porch is also scheduled to be professionally painted in June. Off-street parking is provided, with newly installed blacktop to support tenant convenience.
Located at 37-39 E Willow Street in Elizabethtown’s Central Business District, the property is positioned for easy access to downtown amenities. It is also convenient to shopping, dining, and transportation options in the area.
For buyers seeking a small residential income asset, the current income of $45,000 annually provides a clear baseline, while the unit mix supports tenant diversification across studio-to-family-sized layouts. With the separation of utilities and the documented capital updates, this offering is designed to appeal to owner-operators and investors looking for a manageable, maintenance-conscious multi-unit property in a walkable, amenity-oriented setting.
Located at 37-39 E Willow Street in Elizabethtown’s Central Business District, the property is positioned for easy access to downtown amenities. It is also convenient to shopping, dining, and transportation options in the area.
For buyers seeking a small residential income asset, the current income of $45,000 annually provides a clear baseline, while the unit mix supports tenant diversification across studio-to-family-sized layouts. With the separation of utilities and the documented capital updates, this offering is designed to appeal to owner-operators and investors looking for a manageable, maintenance-conscious multi-unit property in a walkable, amenity-oriented setting.
Key Highlights
- 4‑unit property with two 1‑bedroom units and two 2‑bedroom units
- Separate utilities for each unit
- Generates $45,000 in annual income (per provided remarks)
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 6.26%
Second Best
Apartment 5plus
$434.0K
$379.7K – $506.3K
NOI $30,379 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.03M
$904.3K – $1.21M
NOI $72,343 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained quadplex 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 Street Elizabethtown, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4‑unit property with two 1‑bedroom units and two 2‑bedroom units; Separate utilities for each unit; Generates $45,000 in annual income (per provided remarks)
