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33907711
33907710

101 East Baltimore Street, Greencastle, PA 17225

DC
$685,000
6 days on market
Updated 6 days ago

101 East Baltimore Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,000
Units 4
Cap Rate 5.17%
NOI $35,407
Occupancy 100%
Tenancy Multi
Rent Bumps No
Price per SqFt $171
Broker Co-Op True
Year Built 1890
Stories 3
Acreage 0.110
Zoning Community Commercial
Parking Spaces 1 per unit
Investment Type Stabilized
Ownership Fee Simple

100% leased, 4-1 bedroom apartment building

Marketing description

Own a remarkable piece of Greencastle history with the iconic Gilland Guest House, located at 101 E. Baltimore Street. Built around the turn of the 20th century by Dr. Gilland as both his medical practice and family residence, this stunning Victorian property offers a rare investment opportunity filled with quality craftsmanship and immediate, proven income potential. Unlike many converted homes, this property was originally designed to accommodate multiple living spaces and currently features four one-bedroom apartments, with the potential to create a fifth unit on the third level. Each apartment has been thoughtfully updated to preserve the building's historic charm while providing the modern conveniences today's tenants desire, including in-unit laundry facilities and off street parking. Timeless architectural details are found throughout, including beautifully preserved hardwood floors, intricate Victorian woodwork and moldings, reglazed tile, and original hand-crafted oak shutters that adorn every window. The attention to detail and quality of construction are a testament to a bygone era rarely found in today's properties. Situated in the heart of downtown Greencastle, this property offers strong rental appeal with walkable access to local shops, restaurants, and community amenities. Conveniently located less than two miles from Interstate 81, residents have easy commuting access north and south, with Frederick, MD and Carlisle, PA both approximately 44 miles away. Whether you're looking to expand your investment portfolio or own a truly distinctive historic property with reliable cash flow, the Gilland Guest House presents a rare opportunity to own one of Greencastle's most treasured landmarks.

Investment highlights

Immediate cash flow from 4 stabilized, renovated units at closing.

Clear, low-cost path to a 5th income stream.

Recent capital improvements reduce near-term maintenance risk for the new owner.

Approximately $90,000 of projected value creation upon completion of 5th unit, based on income cap rate of 7.5%

Listing Contacts

DC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$35,407.00
$2,950.58/mo

Valuation Metrics

0
DSCR
5.17%
Cap Rate
5.17%
ROI

Map

Zoning

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CC CommercialSpecial CommercialCommunity Commercial
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Last updated Apr 2, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Dawn Crilley-Shank
License
RBR006735
Brokerage
Samson Properties of PA
Brokerage Phone
717-765-0005
Title
Broker of Record
Brokerage Address
1580 Buchanan Trail E, Greencastle, PA 17225
Name
Dawn Crilley-Shank
License
RBR006735
Brokerage
Samson Properties of PA
Brokerage Phone
717-765-0005
Title
Real Estate Associate Broker
Brokerage Address
1580 Buchanan Trail East
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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