Investments Sales Management

Traditional

342-346 W KING STREET

LANCASTER , PA 17603

MLS#: PALA2066358

$499,900

Status: Closed
Listing number: PALA2066358
Listing provided by: Life Changes Realty Group
Listing agent phone: None
Last update: 3 months ago
On site: 5 months ago
Browse Properties
DOWNTOWN LANCASTER - Residential Income

Property

Beds

7

Full Baths

None

1/2 Baths

None

Year Built

1925

Sq.Footage

5,408

Investor Alert - Lancaster City Cash Cow! Fully rented large detached 4 unit apartment building just three blocks from the downtown Lancaster City square! Building consists of two duplexes (separate tax IDs), totaling a whopping 5,408 square feet. The two duplexes have a combined basement, currently operating as a quadruplex with 4 large apartments. One duplex consists of a 4 bedroom, 1 bath apartment and a 1 bedroom, 1 bath apartment. The other duplex is a 3 bedroom, 1 bath apartment and a 3 bedroom, 1.5 bath apartment (with potential to split one of these huge apartments in half to make a 5th unit!). The two second floor units have been recently updated throughout, potential to continue upgrading first floor units and increase cash flow! Each apartment has two private entry doors, second floor units have a walk-up entry door AND a private street-level entrance (second-floor units can also enter through rear of building off of Strawberry St.) More to love: Custom craftsman features, hardwood floors, upgraded luxury vinyl tile and luxury vinyl plank flooring, high ceilings and tons of natural light give these apartments classic charm with durability in mind. Each apartment has a landlord-owned fridge and stove. Tenants are responsible for electric, heat (electric) & gas, Landlord pays trash, water & sewer. Located in an area experiencing large-scale investment and redevelopment, this freshly painted and well-maintained investment will become a top-producer in your portfolio for years to come! New rubber roof - 342 W King St. - 2022, new mansard roof - 342 W King St. - 2022, new rubber roof - 346 W King St. - Corner Unit (blue building) - 2024. Long term tenants and stable cash flow history with professional property manager in place. Mark your calendar! - Two upcoming showing options: Wednesday, April 2nd from 4pm-6pm and Saturday, April 5th from 1pm - 3pm. Showings will be open-house style, please call to register. Separate, private showings cannot be accommodated at this time. Please plan to come to one of the above-mentioned group showing times.

Features & Amenities

Interior

  • Other Interior Features

    Built-in Features, Open Floorplan

  • Total Bedrooms

    7

  • Bathrooms

    N/A

  • Above Grade Finished Area

    5408.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Electric, Baseboard

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Other Exterior Features

    Awning(s), Lighting

  • Parking

    On Street, Unassigned

  • Patio and Porch Features

    Porch, Deck

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

  • View

    City, Street

Area & Lot

  • Lot Features

    Corner Lot

  • Lot Size(acres)

    0.07

  • Property Type

    Residential Income

  • Property Sub Type

    Quadruplex

  • Architectural Style

    Traditional

Price

  • Sales Price

    $499,900

  • Tax Amount

    7993.06

  • Zoning

    R4 - Residential High Density

  • Sq. Footage

    5, 408

  • Price/SqFt

    $92

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Foundation Details

    Permanent

  • Sewer

    Public Sewer

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Location

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Listing Courtesy of ERIN E STEWART , Life Changes Realty Group

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Agent TheresaKehler

Owner, President, Investment Property Advisor

TheresaKehler

Call Theresa today to schedule a private showing.

(215) 605-9647

theresa@tntrealestatesolutions.com


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Investor Alert - Lancaster City Cash Cow! Fully rented large detached 4 unit apartment building just three blocks from the downtown Lancaster City square! Building consists of two duplexes (separate tax IDs), totaling a whopping 5,408 square feet. The two duplexes have a combined basement, currently operating as a quadruplex with 4 large apartments. One duplex consists of a 4 bedroom, 1 bath apartment and a 1 bedroom, 1 bath apartment. The other duplex is a 3 bedroom, 1 bath apartment and a 3 bedroom, 1.5 bath apartment (with potential to split one of these huge apartments in half to make a 5th unit!). The two second floor units have been recently updated throughout, potential to continue upgrading first floor units and increase cash flow! Each apartment has two private entry doors, second floor units have a walk-up entry door AND a private street-level entrance (second-floor units can also enter through rear of building off of Strawberry St.) More to love: Custom craftsman features, hardwood floors, upgraded luxury vinyl tile and luxury vinyl plank flooring, high ceilings and tons of natural light give these apartments classic charm with durability in mind. Each apartment has a landlord-owned fridge and stove. Tenants are responsible for electric, heat (electric) & gas, Landlord pays trash, water & sewer. Located in an area experiencing large-scale investment and redevelopment, this freshly painted and well-maintained investment will become a top-producer in your portfolio for years to come! New rubber roof - 342 W King St. - 2022, new mansard roof - 342 W King St. - 2022, new rubber roof - 346 W King St. - Corner Unit (blue building) - 2024. Long term tenants and stable cash flow history with professional property manager in place. Mark your calendar! - Two upcoming showing options: Wednesday, April 2nd from 4pm-6pm and Saturday, April 5th from 1pm - 3pm. Showings will be open-house style, please call to register. Separate, private showings cannot be accommodated at this time. Please plan to come to one of the above-mentioned group showing times.

342-346 W KING STREET

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