For Sale

365 College Ave

Property Address

365 College Ave
Lancaster , PA 17603

$545,000
365 College Ave

Specifications

  • Property type: Multi-unit residential
  • Location: 365 College Ave, Lancaster PA 17603
  • Year of roof replacement: 2019 (per prior Seller’s disclosure)
  • Heating: New gas furnace serving the entire property
  • Cap rate at market value rents: 6.9%
  • Tenant utilities: Tenants pay for electric
  • Landlord responsibilities: Pays for all other expenses
  • Parking: Off-street parking for 3 cars + free street parking
  • Additional value-add opportunities: Laundry installation, cooling system installation, renting parking spaces

Features

  • Fully-leased 4-unit property
  • Charming and functional design
  • Located on a spacious corner lot near F&M College and West ART
  • Private entrances for all units (no common hallways)
  • Off-street parking for 3 cars, plus free street parking
  • Potential for higher rental income with college students as tenants
  • Recent upgrades include a newer roof (2019) and a new gas furnace
Tags:

SALE PENDING!

+3,375 Sq. Ft.

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.

Please contact us to view the proforma.

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