Property
Beds
1
Full Baths
None
1/2 Baths
None
Year Built
1910
Sq.Footage
2,042
Exceptional Investment Opportunity! Updated Two-Unit Property in Lancaster City's Coveted West End! Unlock immediate income potential with this **fully updated and meticulously maintained** multi-family property, perfectly situated in the highly sought-after West End neighborhood of Lancaster City. excellent walkability, and proximity to downtown amenities, this location ensures high tenant demand! This property has been completely refreshed, offering **turn-key readiness** for investors or owner-occupants looking for substantial rental income. Every unit has received significant updates, ensuring low initial maintenance. * **Unit 1 (First Floor):** A comfortable **1 Bedroom Apartment** featuring an eat-in kitchen, separate living area, and a fully updated bathroom. Rented at $1,350 Parking included. Unit 2 (Second Floor): A spacious **4 Bedroom Apartment** complete with a full updated bathroom, eat-in kitchen, and dedicated living area. rented at $2,400 Two Generous Bedrooms located on the top level, likely utilizing space on both floors for a unique layout. 2 off street parking, tenants pays additional for parking spaces in the back of the home, extra income generation! Complete Updates: All living spaces have been significantly upgraded, including, newly renovated bathrooms, updated kitchens, fresh flooring, new paint, and modern light fixtures. Income Generating: This property is truly ready and delivering immediate cash flow. Investment Appeal: The desirable West End location guarantees strong rental interest and high potential rental rates. Total Rental Income Unit 1: $1,300 / month Unit 2: $2,400 / month Total monthly rent: 1350 + 2400 = 3750 Annual rent: 3750 × 12 = 45,000 Total yearly rental income = $45,000 Operating Expenses Monthly expenses: $50 monthly trash/sewer 50 × 12 = 600 yearly: $1,400 (heat winter months 150$ 3 months 30$ to 40$ summer/spring/fall) Total expenses: 600 + 1,400 = 2,000 Net Operating Income (NOI) 45,000 - 2,000 = 43,000 NOI = $43,000 (mortgage is not included) mortgage: $1,800 monthly Cap Rate Property Value Cap Rate = 12%-12.5% This is a rare chance to acquire a fully renovated multi-family asset in one of Lancaster’s premier residential areas. Minimize your turnover risk and maximize your returns with move-in-ready units! Don't miss the chance to own a prime, income-producing asset in Lancaster's best neighborhood!
Features & Amenities
Interior
-
Total Bedrooms
1
-
Bathrooms
N/A
-
Above Grade Finished Area
2042.0
-
Basement YN
YES
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Natural Gas, Hot Water, Radiant
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Off Street, Driveway
-
Pool
Yes
-
Pool Features
None
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.05
-
Property Type
Residential Income
-
Property Sub Type
Duplex
-
Architectural Style
Other
Price
-
Sales Price
$349,000
-
Tax Amount
$5,329
-
Sq. Footage
2, 042
-
Price/SqFt
$170
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Accessibility Features
Accessible Doors, Accessible Hallway(s)
-
Foundation Details
Brick/Mortar
-
Sewer
Public Sewer
-
Water Source
Public
Schedule a Showing
Showing scheduled successfully.
Mortgage calculator
Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.
Your payment
Principal and Interest:
$
Property taxes:
$
HOA fees:
$
Total loan payment:
$
Total interest amount:
$
Location
County
LANCASTER
Elementary School
Middle School
High School
Listing Courtesy of mabel hinson , Coldwell Banker Realty
RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
AGENT
Lizzy Isenberg
Call Lizzy today to schedule a private showing.
* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.© 2024 FMLS.