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534 W JAMES ST Lancaster, PA 17603
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Key Details
Sold Price $1,080,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Subdivision College Hill
MLS Listing ID PALA2049324
Sold Date 06/18/24
Originating Board BRIGHT
Year Built 1890
Annual Tax Amount $8,246
Tax Year 2023
Lot Size 2,614 Sqft
Acres 0.06
Lot Dimensions 0.00 x 0.00
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.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning R-4
Interior
Hot Water Natural Gas
Heating Baseboard - Electric
Cooling Window Unit(s), Multi Units
Heat Source Electric
Exterior
Utilities Available Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Water Access N
Accessibility None
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Wharton
Middle Schools John F Reynolds
High Schools Mccaskey Campus
School District School District Of Lancaster
Others
Tax ID 339-60666-0-0000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Bank Portfolio, Exchange
Listing Terms Cash, Bank Portfolio, Exchange
Financing Cash,Bank Portfolio,Exchange
Special Listing Condition Standard
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Bought with NON MEMBER • Non Subscribing Office