Property

Lancaster, PA 17602 225-231 E King Street

Pending
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Presented By: Keller Williams Elite
  • MLS# PALA2059654
  • 10/30/2024
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  • Beds • 19

Home Details

What an opportunity only 2 blocks from the square!! 4 contiguous multifamily properties containing 16 units and 29 parking spaces. Several units have been updated and/or remodeled. 225 E King St operates as a furnished rental. All furniture and decorations convey with the sale. The buildings have a mix of unit sizes and tenant duration. Room to grow in several units. Seller is in the process of completing a few projects on site. Assessment values, tax values, building/lot area are combined totals based off of public records.
Presented By: Keller Williams Elite

Interior Features for 225-231 E King Street

Bedrooms

Three Bedroom Units Count

Other Interior Features

LivingAreaSourceEstimated
Central Air Y/NNo
FlooringHardwood, Luxury Vinyl Plank, Tile/Brick, Laminated
Furnished UnitsSome
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric

General for 225-231 E King Street

Acceptable FinancingCash, Bank Portfolio, Conventional, Exchange
AccessibilityNone
Architectural StyleConverted Dwelling
Cap Rate8.40
CityLANCASTER
Construction MaterialsBrick, Stone
Cool FuelNone
CoolingNone
CountyLANCASTER
DirectionsN on Queen, R on King, Travel 2 blocks, Properties will be on the left.
FULLFee Simple
Garage Y/NNo
Gross Income250680.00
HeatingRadiant, Baseboard - Electric
Lease TypeLong Term, Month to Month
Lot Size Square Feet17859.60
Lot Size UnitsSquare Feet
MLS AreaLancaster City (10533)
ModificationTimestamp2024-12-30T14:07:42
MunicipalityLANCASTER CITY
Net Operating Income181954.95
New ConstructionNo
Number of Units Leased15
NumberOfUnitsTotal4
NumberOfUnitsVacant1
One Bedroom Units Count9
Operating Expense65447.00
Other StructuresAbove Grade
OwnerPaysCommon Area Maintenance, Electricity, Insurance, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Trash Collection, Water, Other
PossessionSettlement
Price Per Sq Ft Total AG161.71
Property SubtypeOther
Property TypeMulti-Family
RoofShingle, Rubber
School DistrictSCHOOL DISTRICT OF LANCASTER
SewerPublic Sewer
Single Room Units Count2
Standard StatusPending
StatusPENDING
Structure TypeTwin/Semi-Detached
Tax Annual Amount29191.0
Tax Assessed Value745900.0
Tax Year2024
Total Actual Rent250680.00
Total SQFT13450
Two Bedroom5
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1870
Year Built SourceEstimated
ZoningRESIDENTIAL/COMMERCIAL
Zoning DescriptionApartments

Exterior for 225-231 E King Street

Foundation DetailsStone
InclusionsIn unit w/d units, coin operated laundry units, furnishings in 225 E King St convey with the sale
Lot Size Acres0.41
Lot Size SourceEstimated
Navigable Water Y/NNo
Parking Lot - # of Spaces29
PoolNo Pool
Total Parking Spaces29
Type of ParkingParking Lot
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Charles Torres

Owner
Price $2,175,000
MLS#PALA2059654
List Date 10/30/2024
Property Type Pending
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