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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1022 Chambers St Steelton, PA 17113

    • Apartment buildings
    • 5,920 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    May 30, 2025
    $1,475,000
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    3.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US73-2248031
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1022 Chambers St

    Year built
    1974
    Construction
    FRAME
    Lot size
    0.34 lot acres
    Property size
    5,920 SF
    Property type
    Apartment buildings
    APN
    63-060-081
    APU
    63060081

    Description

    This exceptional multifamily investment opportunity consists of a 14-unit apartment building portfolio located at 1022 Chambers St, Harrisburg, PA 17113. The property comprises four buildings, totaling 12,300 square feet on a 0.7-acre lot, featuring a mix of one, two, and three-bedroom units, along with four storage units and one garage. Built in 1944 and 1974, the Class B property boasts 100% occupancy and a current NOI of $118,341, representing a 7.92% cap rate. A pro-forma NOI of $130,125 projects an 8.70% cap rate. Recent capital expenditures totaling $80,000 have upgraded roofs, windows, and HVAC systems. Currently, rents average $969 per unit, significantly below market rates, presenting a substantial value-add opportunity with a potential 12.81% rent increase. The property benefits from its convenient location, just 1.5 miles from I-283 and I-83, providing easy access to downtown Harrisburg and the surrounding region. The strong demographics, with a projected 4.9% population growth, further enhance the investment potential. The asking price is $1,495,000, or $106,785.71 per unit, and the property is offered fee simple. The permitted zoning is residential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,210,000
      ML approach
      $1,270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $785,000
      6.5%
      $725,000
      7%
      $675,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,110,000
      MEDICAL BUILDING
      $870,000
      RETAIL STORES
      $835,000
      RESTAURANT
      $815,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Steelton
    County
    Dauphin
    State
    Pennsylvania
    Longitude
    -76.8151
    Latitude
    40.2362
    CBSA code
    25420
    CBSA name
    HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,379
    $60,000
    $200,400
    $260,400
    -
    $60,000
    $200,400
    $260,400

    Comparable in this City

    • Value Estimation
      $110,000
      2,434 SF

      28 4th St

      APARTMENT HOUSE (5+ UNITS) • 2,434 SF
      28 4th St, Steelton, PA 17113-2369
      View Details
    • Value Estimation
      $815,000
      50,472 SF

      3rd State St

      APARTMENT HOUSE (5+ UNITS) • 50,472 SF
      3rd State St, Steelton, PA 17113
      View Details
    • Value Estimation
      $300,000
      1,232 SF

      369 Harrisburg St

      APARTMENT HOUSE (5+ UNITS) • 1,232 SF
      369 Harrisburg St, Oberlin, PA 17113-1345
      View Details
    • Value Estimation
      $180,000
      4,100 SF

      221 2nd St

      APARTMENT HOUSE (5+ UNITS) • 4,100 SF
      221 2nd St, Steelton, PA 17113-2225
      View Details
    • Value Estimation
      $205,000
      4,470 SF

      189 Frnt St

      APARTMENT HOUSE (5+ UNITS) • 4,470 SF
      189 Frnt St, Steelton, PA 17113-2522
      View Details
    • Value Estimation by Request
      4,598 SF

      193 Frnt St

      APARTMENT HOUSE (5+ UNITS) • 4,598 SF
      193 Frnt St, Steelton, PA 17113-2541
      View Details

    Similar Nearby for Sale

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      Seven-unit apartment building, strong rental income.
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    • $179,900

      Renovated Home with Modern Comfort

      Renovated 3-bedroom, 1.5-bath home with updated kitchen and new appliances.
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    • $350,000
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      Mixed-Use Building in Steelton Boro

      Income-producing mixed-use property with residential and commercial units.
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    Similar Nearby for Lease

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      Steelton Retail Space - Prime Location

      High-traffic retail space, ample parking.
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      View Details
    • Contact for pricing
      4,000 SF

      Steelton Office Space Available

      4,000 square foot office space for rent.
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      View Details
    • $38 SF/Yr
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      Steelton Industrial Property: Prime Location

      Spacious industrial building on 4.48 acres.
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    • $19 SF/Yr
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      Office Space with City Views

      Office space for rent with breathtaking city and river views.
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    • $23 SF/Yr
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      Downtown Harrisburg Class A Office

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    1022 Chambers St
    Steelton, PA 17113
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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