342-346 W KING ST new to site Save Request In-Person Tour Request Virtual Tour
Lancaster,PA 17603
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 5,408 sqft
Price per Sqft $92
Subdivision Downtown Lancaster
MLS Listing ID PALA2066358
Style Traditional
Abv Grd Liv Area 5,408
Originating Board BRIGHT
Year Built 1925
Available Date 2025-04-02
Annual Tax Amount $7,993
Tax Year 2023
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type Detached
Property Description
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.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning R4
Rooms
Basement Partial,Outside Entrance,Interior Access,Unfinished
Interior
Interior Features Additional Stairway,Bathroom - Stall Shower,Bathroom - Tub Shower,Built-Ins,Dining Area,Entry Level Bedroom,Floor Plan - Open,Floor Plan - Traditional,Formal/Separate Dining Room,Kitchen - Table Space,Upgraded Countertops
Hot Water Electric,Natural Gas
Heating Baseboard - Electric
Cooling None
Flooring Hardwood,Luxury Vinyl Plank,Luxury Vinyl Tile,Solid Hardwood,Vinyl
Inclusions Landlord owned appliances
Equipment Oven - Single,Refrigerator,Water Heater
Fireplace N
Window Features Bay/Bow,Double Hung,Replacement,Sliding,Transom,Vinyl Clad,Wood Frame
Appliance Oven - Single,Refrigerator,Water Heater
Heat Source Electric
Exterior
Exterior Feature Porch(es),Deck(s)
Utilities Available Cable TV Available,Electric Available,Natural Gas Available,Phone Available,Sewer Available
Water Access N
View City,Street
Roof Type Architectural Shingle,Asphalt,Flat,Pitched,Rubber,Shingle
Accessibility None
Porch Porch(es),Deck(s)
Garage N
Building
Lot Description Corner
Foundation Crawl Space,Permanent
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade,Below Grade
Structure Type High,Plaster Walls
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 338-12145-0-0000, 338-09448-0-0000
Ownership Fee Simple
SqFt Source Estimated
Security Features Main Entrance Lock,Smoke Detector
Acceptable Financing Cash,Conventional,Bank Portfolio
Listing Terms Cash,Conventional,Bank Portfolio
Financing Cash,Conventional,Bank Portfolio
Special Listing Condition Standard