6-Unit Renovated Apartment
New
For Sale
$525,000
500 W PHILADELPHIA STREET, York, PA 17401
Two renovated, separately addressed buildings contain one-bedroom apartments, with both leased and unleased units.
Property Size4,892 SF
Price / SF$107.32
Days on Market4
Property Features for 500 W PHILADELPHIA STREET
General Information
Standard status
Active
Size
4,892 SF
Property subtype
Commercial
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$39,000
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Renaissance Realty Sales, LLC
(717) 881-3037
Listed By:
Spencer Blake · License #RS367636
(717) 881-2965
Source:
Cummingsrealtors
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:23AM
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 Renaissance Realty Sales, LLC
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Investment Insights
Based on property information with market context.
The offering at 500 W Philadelphia Street comprises two separately addressed buildings with six renovated apartments. Each apartment has one bedroom and one full bathroom. Four units are occupied, while two are vacant.
Residents pay their own gas and electric costs; water, sewer, and trash are paid by the owner. The buildings were constructed in 1900.
Residents pay their own gas and electric costs; water, sewer, and trash are paid by the owner. The buildings were constructed in 1900.
Key Highlights
- Two separately addressed buildings at 500 W Philadelphia Street
- Six renovated apartments, each with one bedroom and one full bathroom
- Four occupied units and two vacant units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,089
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$901,780
$901.8K
Cap Rate 7%
$644,129
$644.1K
Cap Rate 9%
$500,989
$501.0K
Market Conditions
NOI Build-Up for 4,892 SF
Gross rent
$86.3K $17.64/SF
− Vacancy
−$4.3K −$0.88/SF
EGI
$82.0K $16.76/SF
− OpEx
−$36.9K −$7.54/SF
NOI
$45.1K $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%
$901,780
Cap Rate 7%
$644,129
Cap Rate 9%
$500,989
Alternative Uses
Best Use
Apartment 5plus
$644.1K
$563.6K – $751.5K
NOI $45,089 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,148 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,153
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated, separately addressed buildings contain one-bedroom apartments, with both leased and unleased units.
Where is this apartment building located?
The property is located at 500 W PHILADELPHIA STREET York, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two separately addressed buildings at 500 W Philadelphia Street; Six renovated apartments, each with one bedroom and one full bathroom; Four occupied units and two vacant units
