537 East King Street Lancaster, PA 17602
Well-maintained, fully leased 3-unit building with detached garage.
Property Features for 537 East King Street
General Information
- Standard status
- Active
- Size
- 2,868 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing office Iron Valley Real Estate of Lancaster (717) 808-0143
Listing date May 21, 2026
Source Compass
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Investment Insights
Based on property information with market context.
Key Highlights
- Fully leased 3‑unit building providing immediate rental income.
- Valid City licenses, permits, and Lead certification.
- Detached garage for parking or storage.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.6k | $18.00 |
| − Vacancy | −$258 | −$0.09 |
| EGI | $51.4k | $17.91 |
| − OpEx | −$23.1k | −$8.06 |
| NOI | $28.3k | $9.85 |
