Renovated Triplex with Outdoor
503 W MAIN Street, Mechanicsburg, PA 17055
For Sale
$349,900
Multi-Family, MECHANICSBURG, PA
Property Size2,628 SF
Lot Size0.26 Acres
Price / SF$133.14
Days on Market49
Property Features for 503 W MAIN Street
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Interior features
Appliances
Subdivision
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
M C Walker Realty
(717) 697-9487
Listed By:
CHRISTINE WALKER · License #RS278850
(717) 579-8554
Added: Sep 20
Changed: Oct 27
Last Checked: Nov 7 at 5:06PM
MLS# PACB2058484
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.
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Investment Insights
Based on property information with market context.
This three-unit residential income property at 503 W Main Street includes a 2-bedroom apartment, a 1-bedroom apartment, and an efficiency unit within 2,628 square feet. The first-floor 2-bedroom residence measures approximately 1,000 square feet and includes hardwood floors, high ceilings, newer windows, a remodeled kitchen and bath, laundry appliances, a covered side porch, and a rear Trex deck. The efficiency was remodeled in 2017 and features shaker-style cabinetry, ceiling fans, covered balcony access, and attic storage. The 1-bedroom unit provides a separate bedroom, kitchen, living and dining area, and storage closet.
All three apartments are occupied by long-term tenants under yearly leases. Residents pay their own heat, hot water, and electricity, while ownership covers water, sewer, and trash. Parking is available off street, in the driveway, and on the street. Built in 1903 on a 0.26-acre lot, the frame property is located near downtown Mechanicsburg, with restaurants, shopping, schools, and major highways nearby.
All three apartments are occupied by long-term tenants under yearly leases. Residents pay their own heat, hot water, and electricity, while ownership covers water, sewer, and trash. Parking is available off street, in the driveway, and on the street. Built in 1903 on a 0.26-acre lot, the frame property is located near downtown Mechanicsburg, with restaurants, shopping, schools, and major highways nearby.
Key Highlights
- Three‑unit layout with 2‑bedroom, 1‑bedroom, and efficiency apartments
- 2,628 square feet on a 0.26‑acre lot
- First‑floor 2‑bedroom unit offers approximately 1,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,004
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,080
$500.1K
Cap Rate 7%
$357,200
$357.2K
Cap Rate 9%
$277,822
$277.8K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$37.8K $14.40/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$35.7K $13.59/SF
− OpEx
−$10.7K −$4.08/SF
NOI
$25.0K $9.51/SF
Area
Cumberland County, PA
Vacancy
5.61%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,080
Cap Rate 7%
$357,200
Cap Rate 9%
$277,822
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.7K
NOI $25,004 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$317.1K
$277.5K – $370.0K
NOI $22,197 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$610.5K
$534.2K – $712.2K
NOI $42,733 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
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Business Placement
Demographics for 17055, PA
40,353
Population
18,994
Households
2.1
Avg Household Size
42
Median Age
47%
College-Educated
97%
High-School Grad
39.2 sq mi
ZIP Area
1,029
Density / Sq Mi
$95,542
Median Household Income
$55,923
Median Earnings
$1,320
Median Rent
$266,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments near downtown Mechanicsburg, with updated interiors, private outdoor areas, and off-street parking.
Where is this triplex located?
The property is located at 503 W MAIN Street Mechanicsburg, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three‑unit layout with 2‑bedroom, 1‑bedroom, and efficiency apartments; 2,628 square feet on a 0.26‑acre lot; First‑floor 2‑bedroom unit offers approximately 1,000 square feet
