Address
534 W James Street, Lancaster, PA
Price
$ 1,650,000
Property Attributes
- MLS#PALA2049324
- TypeCommercial
- CountyLANCASTER
- CityLancaster
- AreaLancaster City
- NeighborhoodCollege Hill
- Zip17603
- StyleApartment Building
- Year Built1890
- Taxes$ 8246
- Price$ 1,650,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5879
- Lot Size2,614 SqFt
Data Source:
Bright MLS
Property Description
Prime Investment Opportunity: 11-Unit Property at 534 W. James Street, Lancaster, PA Discover an exceptional investment opportunity in the heart of Lancaster, PA, with this impressive 11-unit property located at 534 W. James Street. Situated in a vibrant neighborhood close to prestigious institutions such as F&M College and Lancaster Theological Seminary, as well as a plethora of dining, entertainment, and recreational options, this property promises not only lucrative returns but also a desirable location for tenants seeking convenience and culture. The Location: Convenience meets culture at 534 W. James Street. Nestled within walking distance to many great restaurants, coffee shops, and brew pubs, tenants will have easy access to Lancaster's culinary and social scene. Moreover, the property's proximity to Buchanan Park offers tenants a serene retreat for outdoor leisure activities. Within a short walk, residents can explore galleries, visit the historic Central Market, or enjoy an evening out at local brew pubs, making this location highly desirable for urban living enthusiasts. The Property: Boasting a mix of studio, one-bedroom, and two-bedroom units, this investment property caters to a diverse range of tenants, ensuring high occupancy rates and steady cash flow. Each unit is thoughtfully designed to maximize comfort and functionality. Safety and Compliance: Investors can rest assured knowing that the property is fully equipped with sprinkler systems for added safety, meeting the highest standards of fire protection. Additionally, the property is licensed by the City of Lancaster, ensuring compliance with local regulations and providing peace of mind to both owners and tenants alike. Income Potential: With its prime location and attractive unit mix, 534 W. James Street presents an exceptional income-generating opportunity for savvy investors. The property's proximity to academic institutions makes it particularly appealing to students and faculty members seeking off-campus housing. Additionally, the bustling neighborhood and array of nearby amenities ensure a steady stream of potential tenants year-round. Conclusion: Don't miss out on the chance to add this lucrative investment property to your portfolio. Whether you're a seasoned investor looking to expand your holdings or a first-time investor seeking a promising opportunity, 534 W. James Street offers the perfect combination of location, income potential, and safety.
| Price History | |
|---|---|
| 4/9/2024 | Listed $1,650,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard - Electric |
| Cooling | Window Unit(s),Multi Units |
| Utilities | Cable TV Available,Electric Available,Natural Gas Available,Sewer Available,Water Available |
| Possession | Immediate |
| Zoning | R-4 |
| Construction Materials | Brick |
| Exclusions | none |
| Year Built | 1890 |
| Electric | 200+ Amp Service,Circuit Breakers |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| OwnerPays | Gas,Pest Control,Sewer,Taxes - Real Estate,Water,Advertising/Licenses and Permits,Common Area Maintenance,Insurance,Trash Collection,Snow Removal,Repairs |
| Business Type | Apartment Building |
| Accessibility | None |
| County | LANCASTER |
| Net Operating Income | 115124.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | COLLEGE HILL |
| Possible Use | Apartment Building,Laundromat,Multi-Family,Mixed Use |
| Water Access Y/N | No |
| Property Use | Investment |
| Status | ACTIVE |
| Directions | Corner of W. James and N. Pine Streets |
| ModificationTimestamp | 2024-04-10T09:22:36 |
| City | LANCASTER |
| Buyer Agent Compensation | 3 |
| Disclosures | Prop Disclosure,Rental Permits |
| Zoning Description | High Density Residential |
| Total Units | 4 |
| MLS Area | Lancaster City (10533) |
| Lot Size Square Feet | 2614.00 |
| Tax Assessed Value | 208400.0 |
| Waterfront Y/N | No |
| Street Name | JAMES |
| Tax Annual Amount | 8246.0 |
| Acceptable Financing | Cash,Bank Portfolio,Exchange |
| Vacation Rental Y/N | No |
| Virtual Tour | https://360tourdesigns-central-pa.hd.pics/534-W-James-St/idx |
| Days on Market | 8 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Cap Rate | 7.00 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Hot Water | Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Inclusions | all existing appliances |
| Type of Parking | None |
| Land Use Code | 513 |
| Foundation Details | Stone |
| Water View Y/N | No |
| Building Area Total | 0.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.06 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 26800.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 17603
Price
Taxes
Visits
Year Built
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