238 CENTENNIAL AVE Hanover, PA 17331
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAYK2111516
Year Built 2026
Annual Tax Amount $1,177
Tax Year 2026
Lot Size 0.390 Acres
Acres 0.39
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
All utilities are separately metered and paid by tenants, and the exterior is tenant-maintained, keeping operating costs lean. At an asking price of $2,080,000 ($260,000 per unit), the project is offered at a 6.42% CAP rate with projected rents of $2,100 per unit per month.
Hanover is an ideal location for this type of investment. The borough's population of approximately 17,000 is growing steadily, and nearly half of all households are renters — a built-in, durable demand base. Yet the housing stock is aging, and new construction of this quality is genuinely scarce.
Centennial Court's downtown location puts residents within walking distance of Hanover's commercial core, parks, and community amenities — exactly the kind of walkable, low-maintenance living that today's renters seek and are willing to pay a premium for.
Location
State PA
County York
Area Hanover Boro (15267)
Zoning R5
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Natural Gas
Exterior
Garage Spaces 16.0
Water Access N
Street Surface Paved
Accessibility None
Total Parking Spaces 16
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District Hanover Public
Others
Tax ID 67-000-07-0371-00-00000
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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Zack Grimmer
Associate Broker | Team Leader | REALTOR | Mortgage Loan Officer License ID: RS346782 | 1973175 | BK359849