Fully Leased 4-Unit
For Sale
$495,000
5 Eastman Avenue, Lancaster, PA 17603
Well-maintained four-unit property includes three residences and a two-bay garage; tenants pay all utilities.
Property Size2,340 SF
Price / SF$211.54
Days on Market198
Property Features for 5 Eastman Avenue
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi Family
Zoning
Residential/Multi Units
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
2
Building Details
Building Size
2,340 SF
Year Built
1960
Units
3
Tenancy
Multi
Listing Agency:
Bennett Williams Commercial - Lancaster
Listed By:
Tom Troccoli · License #RS167691L
(717) 843-5555
Source:
Bennettwilliams
Added: Apr 11
Changed: Oct 23
Last Checked: Oct 24 at 1:27PM
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 Bennett Williams Commercial - Lancaster
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Investment Insights
Based on property information with market context.
This well-maintained quadplex is fully leased and configured with three residential units and one two-bay garage. Tenants pay all utilities, and the property is served by public water and public sewer.
The asset is located in Manor Township within the Penn Manor School District.
Financials cited in the listing include gross income of $56,400 and NOI of $47,934.
The asset is located in Manor Township within the Penn Manor School District.
Financials cited in the listing include gross income of $56,400 and NOI of $47,934.
Key Highlights
- Fully leased 4‑unit property in Lancaster with gross income of $56,400
- NOI listed as $47,934
- Includes 3 residential units plus one two‑bay garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,138
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,760
$522.8K
Cap Rate 7%
$373,400
$373.4K
Cap Rate 9%
$290,422
$290.4K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$37.9K $16.20/SF
− Vacancy
−$569 −$0.24/SF
EGI
$37.3K $15.96/SF
− OpEx
−$11.2K −$4.79/SF
NOI
$26.1K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,760
Cap Rate 7%
$373,400
Cap Rate 9%
$290,422
Alternative Uses
Best Use
Multifamily LT 5
$373.4K
$326.7K – $435.6K
NOI $26,138 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$329.3K
$288.1K – $384.2K
NOI $23,050 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$784.1K
$686.1K – $914.8K
NOI $54,890 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit property includes three residences and a two-bay garage; tenants pay all utilities.
Where is this quadplex located?
The property is located at 5 Eastman Avenue Lancaster, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fully leased 4‑unit property in Lancaster with gross income of $56,400; NOI listed as $47,934; Includes 3 residential units plus one two‑bay garage
