1854 Walnut StHarrisburg, PA 17103

For Sale
$599,000

Five-unit turnkey rental portfolio

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a four-parcel, five-unit single-family rental portfolio located in Harrisburg, Pennsylvania, at 1854 Walnut St, zip code 17103. The portfolio boasts a current NOI of $60,000, with a projected increase to $68,000 through market rate adjustments to two units. The property includes four three-bedroom units and one two-bedroom unit, all currently occupied. Four of the five units have undergone recent renovations within the last two years, ensuring a turnkey operation. The property also features a large rear parking lot, offering potential for additional income generation through rental. Tax IDs 15-017-026, 15-017-027, 15-017-028, and 15-017-029 are included in the sale. Tenant responsibility for utilities is comprehensive, except for sewer and water at 1860, which is covered by the owner. Seller financing is a possibility. This portfolio offers a compelling 10% cap rate, with a pro-forma cap rate of 11.35%, making it an attractive addition to any investor's portfolio. The asking price is $599,000.

Highlights

  • $599,000 asking price for a five-unit multifamily portfolio in Harrisburg, PA.
  • 10% current cap rate, with a pro-forma cap rate of 11.35%.
  • $60,000 current NOI, projected to increase to $68,000.
  • Four-parcel portfolio includes four three-bedroom units and one two-bedroom unit; all currently occupied.
  • Seller financing is available.

Location Insight

City
Harrisburg
County
Dauphin
State
Pennsylvania
Latitude
40.2719048
Longitude
-76.8633972
1854 Walnut St, Harrisburg, Pennsylvania

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1854 Walnut St
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