Building Details

Year Built 1920

Tenancy Multi

Listing Agency: Coldwell Banker Realty j***@cbrealty.com Show Phone

Listed By: Sally Copeland Show Phone

Source: Cummingsrealtors

Added: Aug 13 Changed: Oct 6 Last Checked: Oct 5 at 7:18PM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

This 2,688-square-foot triplex, built in 1920, contains three two-bedroom units that are currently rented. The property includes three oil furnaces, three electric hot water heaters, three refrigerators, and three stoves. A coin-operated washer and dryer serve the building, while two storage sheds provide additional space that can be rented separately.

Utility responsibilities are divided between the occupants and landlord: tenants pay heat, hot water, and electric, while the landlord pays water and trash. The property has four electric meters. Recent improvements include a new oil furnace in unit #3 installed in December 2023, along with new LVP flooring and a refrigerator in unit #1 completed in August 2022.

Key Highlights

• Three 2‑bedroom units; all three are currently rented
• 2,688 square feet on a 1920‑built property
• 4 electric meters, 3 oil furnaces, and 3 electric hot water heaters

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,019

Cap Rate

6.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$480,380 $480.4K

Cap Rate 7%

$343,129 $343.1K

Cap Rate 9%

$266,878 $266.9K

Market Conditions

NOI Build-Up for 2,688 SF

Gross rent

$37.1K $13.80/SF

− Vacancy

−$2.8K −$1.04/SF

EGI

$34.3K $12.77/SF

− OpEx

−$10.3K −$3.83/SF

NOI

$24.0K $8.94/SF

Area

Lebanon County, PA

Vacancy

7.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$480,380

Cap Rate 7%

$343,129

Cap Rate 9%

$266,878

Alternative Uses

Best Use

Multifamily LT 5

$343.1K

$300.2K – $400.3K (±1% cap)

NOI $24,019 @ 7.0% cap · market cap 6.41%

Second Best

Apartment 5plus

$318.9K

$279.0K – $372.0K (±1% cap)

NOI $22,321 @ 7.0% cap · market cap 5.95%

Theoretical Best

Office A

$630.9K

$552.1K – $736.1K (±1% cap)

NOI $44,165 @ 7.0% cap · market cap 11.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Electrical Service Auto Parts Store Building Supply Furniture & Home Goods Auto Repair Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 17003, PA

12,329

Population

4,507

Households

2.7

Avg Household Size

40

Median Age

33%

College-Educated

93%

High-School Grad

42.7 sq mi

ZIP Area

289

Density / Sq Mi

$87,350

Median Household Income

$36,394

Median Earnings

$1,088

Median Rent

$242,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three rented two-bedroom units with individual electric metering, shared laundry equipment, and additional storage structures.

Where is this triplex located?

The property is located at 693 N STATE ROUTE 934 Annville, PA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Three 2‑bedroom units; all three are currently rented; 2,688 square feet on a 1920‑built property; 4 electric meters, 3 oil furnaces, and 3 electric hot water heaters