Multi-Family, Townhouse $ 489,900

115 LOCUST ST

Harrisburg, PA 17101

  • 2,916 SqFt
  • 1,120 Lot Size
  • 1890 Year Built
FULLY RENTED! Turnkey Downtown Harrisburg Multi-family Investment Cap Rate: 10.46%+

Welcome to an exceptional income-producing opportunity in the heart of Downtown Harrisburg's thriving Riverfront district — just steps from the Susquehanna River, restaurants, state offices, and entertainment.

This unique property includes two fully detached single-family homes on one deed — offering dual rental streams in one of the city's most walkable and high-demand areas.

🔑 Property Highlights:
• Front Home: 5 bed / 2.5 bath | Current Rent: 2,650 + 185.37 utility charge |Est. Rent: $2,900/month or more
• Rear Home: 3 bed / 2 bath |Current Rent: 2,000 + variable charges for utilities| Est. Rent: $2,100/month or more
• Total Monthly Rental Income:Current: 4,650 base + utility charges | Est: $5,000+
• Estimated Monthly PITI Payment: $3,459
• Estimated Monthly Cash Flow: $1,541+

📊 Investment Snapshot:
• Annual Gross Income: $60,000
• Estimated Annual Expenses (taxes, insurance, maintenance): $7,684
• Estimated Net Operating Income (NOI): $52,316
• Cap Rate: 10.46% (conservatively) | 11.25%+ with short-term rental conversion

With positive cash flow, this is the kind of high-yield, low-risk asset investors chase — and rarely find in such a prime location. Just a few blocks from Riverfront Park, City Island, the Capitol Complex, and the area's largest employers, appreciation potential here is as strong as the income stream.

Whether you're a first-time investor or building your portfolio, this is a rare chance to buy low and cash flow immediately in a city with long-term upside.
Listed by Adam Kautz of Iron Valley Real Estate of York County

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family, Townhouse

    Sub Type End of Row/Townhouse

    Listing Status Active

    Purchase Type For Sale

    Square Footage 2, 916 sqft

    Price per Sqft $168

    Subdivision None Available

    MLS Listing ID PADA2046402

    Style Traditional, Colonial

    HOA Y/N N

    Abv Grd Liv Area 2,916

    Year Built 1890

    Annual Tax Amount $3,884

    Tax Year 2024

    Lot Size 1,120 Sqft

    Acres 0.03

    Property Sub-Type End of Row/Townhouse

    Source BRIGHT

  • Location

    State PA

    County Dauphin

    Area City Of Harrisburg (14001)

    Zoning DOWNTOWN CENTER

  • Rooms

    Basement Full

  • Building

    Foundation Stone

    Above Ground Finished SqFt 2916

    Sewer Public Septic

    Water Public

    Architectural Style Traditional, Colonial

    Additional Building Above Grade, Below Grade

    New Construction N

  • Interior

    Interior Features Ceiling Fan(s), Kitchen - Island, Recessed Lighting, Upgraded Countertops, Wood Floors, Additional Stairway, Bathroom - Walk-In Shower, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Gourmet

    Hot Water Natural Gas

    Heating Radiator, Baseboard - Electric

    Cooling Wall Unit, Ductless/Mini-Split

    Flooring Hardwood, Tile/Brick

    Inclusions All owner owned appliances

    Equipment Built-In Microwave, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Dishwasher

    Fireplace N

    Appliance Built-In Microwave, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Dishwasher

    Heat Source Electric, Natural Gas

  • Exterior

    Exterior Feature Patio(s)

    View Y/N N

    Water Access N

    View City, River

    Roof Type Rubber,Asphalt

    Accessibility None

    Porch Patio(s)

    Garage N

    Private Pool N

  • Schools

    High Schools Harrisburg High School

    School District Harrisburg City

  • Others

    Pets Allowed N

    Senior Community No

    Tax ID 04-032-015-000-0000

    Ownership Fee Simple

    SqFt Source 2916

    Acceptable Financing Conventional, FHA, Bank Portfolio, Cash, VA

    Horse Property N

    Listing Terms Conventional, FHA, Bank Portfolio, Cash, VA

    Financing Conventional,FHA,Bank Portfolio,Cash,VA

    Special Listing Condition Standard

CONTACT

Adam Kautz

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