745 Manor StColumbia, PA 17512

Property Details for 745 Manor St

Year built

1895

Lot size

1.66 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Exceptional investment opportunity in Columbia, Pennsylvania's historic district. This 14-unit apartment building, constructed in 1895, boasts 100% occupancy and a strong NOI of $158,293, yielding an 8.33% cap rate at an asking price of $1,900,000. The property sits on a 1.66-acre lot and offers a compelling mix of one, two, and three-bedroom units, complemented by ample on-site parking and laundry facilities. Its prime location near downtown Columbia, a renowned antique shopping destination, provides easy access to Route 30 and is within a 15-minute drive of both York and Lancaster, Pennsylvania. This multifamily property presents a significant value-add potential. The current market suggests that modest interior upgrades could increase monthly rents by $300-$550 per unit, maintaining competitive pricing within the local market. Furthermore, the substantial lot size presents a unique opportunity for future development, with the potential to add 36-60 additional apartment units. This property is an ideal acquisition for investors seeking a strong cash flow, value-enhancement potential, and future development upside in a desirable Pennsylvania location.

Location Insight

City

Columbia

County

Lancaster

State

Pennsylvania

Latitude

40.0279

Longitude

-76.4898

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