1022 Chambers St Steelton, PA 17113

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.