Building Details

Year Built 1900

Listing Agency: Renaissance Realty Sales, LLC

Listed By: Isaac Spearman · License #3297207 Show Phone

Source: Yorkhomes

Added: Sep 22 Changed: Sep 29 Last Checked: Oct 5 at 3:37PM

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Investment Insights

Based on property information with market context.

This 8-unit apartment property, built in 1900, combines two complete one-bedroom apartments with six additional units configured around private bedrooms and kitchens. Each of the two apartments includes its own full bathroom, while the other six units share a common-area full bathroom.

Utility arrangements support separate resident responsibility for electric service and heat across the property. Improvements completed over the past several years include electrical, plumbing, flooring, and additional interior and building work. The property offers a distinct unit mix for multifamily ownership, with private kitchen areas provided throughout.

Key Highlights

• 8 total apartment units
• Two one‑bedroom apartments with private kitchens and full bathrooms
• Six units with private bedrooms and kitchens

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,946

Cap Rate

6.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$718,920 $718.9K

Cap Rate 7%

$513,514 $513.5K

Cap Rate 9%

$399,400 $399.4K

Market Conditions

NOI Build-Up for 3,900 SF

Gross rent

$68.8K $17.64/SF

− Vacancy

−$3.4K −$0.88/SF

EGI

$65.4K $16.76/SF

− OpEx

−$29.4K −$7.54/SF

NOI

$35.9K $9.22/SF

Area

York County, PA

Vacancy

5.00%

Lease Rate

$17.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$718,920

Cap Rate 7%

$513,514

Cap Rate 9%

$399,400

Alternative Uses

Best Use

Apartment 5plus

$513.5K

$449.3K – $599.1K (±1% cap)

NOI $35,946 @ 7.0% cap · market cap 6.54%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.13M

$988.0K – $1.32M (±1% cap)

NOI $79,043 @ 7.0% cap · market cap 14.37%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store HVAC Service Tanning Salon Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Location Intelligence

Trade Area within ½ mile

2,218

Businesses Nearby

Explore this area Business Placement

Demographics for 17401, PA

18,771

Population

8,202

Households

2.3

Avg Household Size

32

Median Age

16%

College-Educated

80%

High-School Grad

1.5 sq mi

ZIP Area

12,514

Density / Sq Mi

$41,569

Median Household Income

$30,329

Median Earnings

$940

Median Rent

$84,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with a mix of private apartments and individually metered single-room units.

Where is this apartment building located?

The property is located at 437 Cleveland Avenue York, PA.

What is the asking price?

The asking price for this property is $549,900.

What are key features of this property?

This property features: 8 total apartment units; Two one‑bedroom apartments with private kitchens and full bathrooms; Six units with private bedrooms and kitchens