365 COLLEGE AVE Lancaster, PA 17603
3,375 SqFt
UPDATED:
02/01/2025 04:47 PM
Key Details
Property Type Multi-Family, Townhouse
Sub Type End of Row/Townhouse
Listing Status Pending
Purchase Type For Sale
Square Footage 3,375 sqft
Price per Sqft $161
MLS Listing ID PALA2063562
Style Other
Abv Grd Liv Area 3,175
Originating Board BRIGHT
Year Built 1905
Annual Tax Amount $10,025
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 0.00 x 0.00
Property Description
This fully-leased, 4-unit property offers a seamless blend of charm and functionality, making it a standout option for investors. Situated on a spacious corner lot by F&M College & West ART, everything tenants need is within walking distance. Recent upgrades include a newer roof (2019, per prior Seller's disclosure) & new gas furnace serving heat for the entire property. Each unit has its own private entrance which means there is no common halls. Off-street parking for 3 cars plus free street parking. Seller has kept rents low, intentionally. Market value rents in current condition would produce a 6.9% cap rate. Additional value adds include providing laundry for tenants, installing cooling systems, and renting the parking spaces. Potential to lease to college students for a higher rent and continual student base tenants. Tenants pay for electric. Landlord pays all other expenses. Agents can view the proforma under Documents or please request it. Information herein is deemed accurate however buyer shall confirm any information deemed important to them
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning R3 - MEDIUM DENSITY
Rooms
Basement Daylight, Partial
Interior
Hot Water Electric
Heating Radiator
Cooling Window Unit(s)
Fireplace N
Heat Source Natural Gas
Exterior
Garage Spaces 3.0
Water Access N
View City
Roof Type Rubber
Accessibility Other
Total Parking Spaces 3
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 339-02141-0-0000
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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