365 COLLEGE AVE
LANCASTER, PA 17603
Sold Price: $527,000
List Price: $545,000
Sold Date: Feb 21, 2025
Number of Units: 4
Type: Multi-Unit Residential
Listing #PALA2063562
SHOWINGS STARTING THURSDAY 1/30 . 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. Agents can view the proforma under Documents or please request it. Information herein is deemed accurate however buyer shall confirm any information deemed important to them
Buyer's Agent: Alan H Cherkin
Listing Agent: Corinn E. Kirchner
Listing Agent: Corinn E. Kirchner
Property Features
County: LANCASTER-PA
Municipality: LANCASTER CITY
MLS Area: Lancaster City (10533)
Has Fireplace: No
Heating: Radiator
Heating Fuel: Natural Gas
Cooling: Window Unit(s), Electric
Basement Description: Daylight, Partial
Has Basement: Yes
Total Number of Units: 4
Accessibility: Other
Style: Other
Stories: 3
Is New Construction: No
Construction: Brick, Masonry
Exterior: Fire Escape
Foundation: Other
Roof: Rubber
Septic or Sewer: Public Sewer
Has Garage: No
Parking Spaces: 3
Lot Size in Acres: 0.12
Lot Size in Sq. Ft.: 5,227
Dimensions: 0.00 x 0.00
Has Waterfront: No
Has Water Access: No
View Description: City
School District: SCHOOL DISTRICT OF LANCASTER
ListDate: 2025-01-28 00:00:00.0
Property Type: RI
Property SubType: End of Row/Townhouse
Year Built: 1905
Ownership Interest: Fee Simple
$ per month
Year Fixed. % Interest Rate.
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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Gacono Real Estate participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Gacono Real Estate are marked with the IDX icon, and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Home sale information is not to be construed as an appraisal and may not be used as such for any purpose. BRIGHT MLS is a provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Information Deemed Reliable But Not Guaranteed.
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Gacono Real Estate participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Gacono Real Estate are marked with the IDX icon, and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Home sale information is not to be construed as an appraisal and may not be used as such for any purpose. BRIGHT MLS is a provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Information Deemed Reliable But Not Guaranteed.
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