4-Unit Brick Apartment
633 MANOR STREET, Lancaster, PA 17603
For Sale
New
$379,000
Four occupied one-bedroom residences feature updated kitchens and modern flooring.
Property Size2,256 SF
Price / SF$167
Days on Market4
Property Features for 633 MANOR STREET
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Financials
Cap Rate
Gross Income
Gross Rent Multiplier
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Construction
Listing Agency:
Astoria Realty Advisors LLC
(717) 425-6264
Listed By:
Benuel Esh · License PA RS329980
(717) 344-4480
Source:
Cummingsrealtors
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:34PM
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 Astoria Realty Advisors LLC
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Investment Insights
Based on property information with market context.
This 2,256-square-foot brick apartment property contains four one-bedroom, one-bath units and was built in 1902. Interior features include updated kitchens, modern flooring and tall windows; the upper-level apartment has dormer windows and sloped ceilings. The building has a stone foundation, architectural shingle and rubber roofing, natural gas radiator heat, and natural gas hot water. Public water and sewer serve the property, with a rear yard and outbuilding for storage. Occupancy is 100%; the stated cap rate is 8.8% and GRM is 7.1.
The property is less than a mile from Penn Square, Lancaster Central Market and downtown restaurants, shops and galleries. Routes 222 and 30 provide regional access.
The property is less than a mile from Penn Square, Lancaster Central Market and downtown restaurants, shops and galleries. Routes 222 and 30 provide regional access.
Key Highlights
- Four one‑bedroom, one‑bath apartments in a 2,256‑square‑foot building
- 100% occupancy; 8.8% cap rate and 7.1 GRM
- Built in 1902 with brick construction and a stone foundation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,199
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,980
$504.0K
Cap Rate 7%
$359,986
$360.0K
Cap Rate 9%
$279,989
$280.0K
Market Conditions
NOI Build-Up for 2,256 SF
Gross rent
$36.5K $16.20/SF
− Vacancy
−$548 −$0.24/SF
EGI
$36.0K $15.96/SF
− OpEx
−$10.8K −$4.79/SF
NOI
$25.2K $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%
$503,980
Cap Rate 7%
$359,986
Cap Rate 9%
$279,989
Alternative Uses
Best Use
Multifamily LT 5
$360.0K
$315.0K – $420.0K
NOI $25,199 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$317.5K
$277.8K – $370.4K
NOI $22,223 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$756.0K
$661.5K – $882.0K
NOI $52,920 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,621
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
$244,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Lancaster County, PA
Properties on Market for Quadplexes in Lancaster County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied one-bedroom residences feature updated kitchens and modern flooring.
Where is this quadplex located?
The property is located at 633 MANOR STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartments in a 2,256‑square‑foot building; 100% occupancy; 8.8% cap rate and 7.1 GRM; Built in 1902 with brick construction and a stone foundation
