420 Wiconisco StHarrisburg, PA 17110

Property Details for 420 Wiconisco St

Year built

1965

Construction

FRAME

Lot size

0.14 AC

Property size (Sq ft)

3,648 SF

Property type

Apartment buildings

APN

10-034-024

APU

10034024

Description

This exceptional five-unit apartment building, located at 420 Wiconisco Street in Harrisburg, Pennsylvania, presents a compelling investment opportunity. The property boasts a total of 6,345 square feet and sits on a 0.14-acre lot. Recently renovated, the building features updated interiors and a brand-new roof, eliminating the need for immediate capital improvements. The exterior has also been freshly painted. Currently fully occupied, all units command market rents, generating a substantial net operating income (NOI) of $52,600 annually. This translates to a strong return on investment. The property is part of a larger ten-unit portfolio, offering potential for economies of scale and further investment growth. The low taxes and expenses associated with this property contribute to its exceptional profitability. Detailed financial statements, including net sheets for all properties within the portfolio, are available upon request. This is a turnkey investment ready to generate immediate income. The asking price for this specific five-unit building is $490,000.

• CAP approach

  CAP return

  Valuation

  6%

  $730,473

  6.5%

  $674,282

  7%

  $626,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $516,576

  Geo Method

  $355,718

• Alternative Use

  Use

  Valuation

  Residential

  $674,282

  Hospitality

  $617,639

  Educational

  $513,869

  Medical

  $531,541

  Retail

  $799,351

Location Insight

City

Harrisburg

County

Dauphin

State

Pennsylvania

Latitude

40.2896

Longitude

-76.8977

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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