1224 N 3RD ST Harrisburg PA 17102

25-Unit Mixed-Use Multifamily Asset: Well-balanced unit mix consisting of twenty (20) 1BD/1BR units, four (4) 2BD/1.5BA townhome-style units, and one (1) ground-floor commercial space, providing diversified income streams.

Strong In-Place Cash Flow with Value-Add Upside: Current NOI of $251,723 with a projected Pro Forma NOI of $304,183, offering a clear path to increased returns through mark-to-market rent adjustments.

Compelling Return Profile: 6.71% current cap rate with expansion to 8.11% pro forma; projected cash-on-cash return increases to 10.86% with a 1.50x debt coverage ratio under stabilized operations.

Below-Market Rents with Mark-to-Market Opportunity: Residential rents averaging $1,236/month currently, with pro forma projections of $1,404/month, plus commercial rent growth from $1,236 to $1,500/month.

Favorable Expense Ratio: Pro forma operating expenses projected at 35.4% of EGI, demonstrating efficient management and operational scalability.

Desirable Harrisburg Location: Positioned within a dense residential corridor near downtown Harrisburg, supporting strong rental demand and long-term asset stability.

Modern Construction with Recent Updates: Originally built in 2012 with recent improvements in 2024, minimizing near-term capital expenditure risk.

Attractive Basis: Offered at $150,000 per unit and $194.81 per square foot, presenting a competitive entry point relative to replacement cost.