5-Unit Brick Apartment
400 N 9TH STREET, Lebanon, PA 17046
For Sale
$509,999
Fully occupied brick property with separate electric service for each apartment and public water and sewer.
Property Size3,919 SF
Price / SF$130.13
Days on Market97
Property Features for 400 N 9TH STREET
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Utilities to Site
Building Details
Year Built
Buildings
Construction
Listing Agency:
Real of Pennsylvania
(855) 450-0442
Listed By:
Michael Orta · License PA RS343958
(717) 454-2303
Source:
Cummingsrealtors
Added: Aug 8
Changed: Nov 10
Last Checked: Nov 12 at 8:41AM
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 Real of Pennsylvania
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Investment Insights
Based on property information with market context.
This 3,919-square-foot brick apartment building, constructed in 1945, contains five one-bedroom, one-bath apartments. The property is fully occupied and provides a consistent residential configuration across all units. Each apartment has separate electric service, electric baseboard heat, and its own electric water heater.
Public water and sewer serve the building. The roof has received updates during the current ownership period, adding to the documented improvements. Located at 400 N 9th Street in Lebanon, Pennsylvania, the property combines a five-unit layout with established building systems and an existing occupied resident base.
Public water and sewer serve the building. The roof has received updates during the current ownership period, adding to the documented improvements. Located at 400 N 9th Street in Lebanon, Pennsylvania, the property combines a five-unit layout with established building systems and an existing occupied resident base.
Key Highlights
- Five 1‑bedroom, 1‑bath apartments in a 5‑unit building
- 3,919 square feet on a 1945‑built property
- Fully occupied multifamily asset
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,544
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,880
$650.9K
Cap Rate 7%
$464,914
$464.9K
Cap Rate 9%
$361,600
$361.6K
Market Conditions
NOI Build-Up for 3,919 SF
Gross rent
$63.5K $16.20/SF
− Vacancy
−$4.3K −$1.10/SF
EGI
$59.2K $15.10/SF
− OpEx
−$26.6K −$6.79/SF
NOI
$32.5K $8.30/SF
Area
Lebanon County, PA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,880
Cap Rate 7%
$464,914
Cap Rate 9%
$361,600
Alternative Uses
Best Use
Apartment 5plus
$464.9K
$406.8K – $542.4K
NOI $32,544 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.9K
$804.9K – $1.07M
NOI $64,391 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 17046, PA
31,272
Population
13,570
Households
2.3
Avg Household Size
39
Median Age
12%
College-Educated
84%
High-School Grad
38.9 sq mi
ZIP Area
804
Density / Sq Mi
$59,633
Median Household Income
$37,261
Median Earnings
$1,036
Median Rent
$180,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied brick property with separate electric service for each apartment and public water and sewer.
Where is this apartment building located?
The property is located at 400 N 9TH STREET Lebanon, PA.
What is the asking price?
The asking price for this property is $509,999.
What are key features of this property?
This property features: Five 1‑bedroom, 1‑bath apartments in a 5‑unit building; 3,919 square feet on a 1945‑built property; Fully occupied multifamily asset
