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221 W King Street,  Lancaster PA, 17603

(Active)
$2,548,500
|
8,666 sqft
|
MLS# PALA2046434
Last Updated: 5/14/2024 8:39 AM
Description for 221 W King Street Lancaster, PA 17603
15 Unit Property - 13 Residential Units & 2 Commercial Units- Seller open to holding a second mortgage- see agent for details. Just off a top-to-bottom renovation that brought fresh andinnovative ideas, the Kings Place Apartments is a 15-unit propertyset up for long term cash flow and appreciation. Units have beenthoughtfully designed to provide all the amenities tenants wany in anefficient and comfortable space. Each unit includes a washer & dryer,dishwasher, granite counters, luxury vinyl plank floors, tilebathrooms, gleaming white cabinets, stainless steel appliances, andmuch moreThe building has been outfitted with new electric, HVAC, plumbing,new doors, and upgraded hallways. There are 16 on-site parkingspaces, which are leased separately to tenants and neighbors. Theproperty has a detached "Carriage House" in the rear that is acomplete house with a 1 car garage, 3 bedrooms, and an open livingspace.The ground floor front has 2 commercial spaces. One is leased on a5-year initial term with options to Denim Coffee, a regional favoriteand established brand. The second space has a tenantlined up.Located in rapidly appreciating neighborhood of Lancaster City with future benefit from CRIZ programs.
Price
$2,548,500
LANCASTER
8,666 (approx)
PALA2046434
Active
Description
15 Unit Property - 13 Residential Units & 2 Commercial Units- Seller open to holding a second mortgage- see agent for details. Just off a top-to-bottom renovation that brought fresh andinnovative ideas, the Kings Place Apartments is a 15-unit propertyset up for long term cash flow and appreciation. Units have beenthoughtfully designed to provide all the amenities tenants wany in anefficient and comfortable space. Each unit includes a washer & dryer,dishwasher, granite counters, luxury vinyl plank floors, tilebathrooms, gleaming white cabinets, stainless steel appliances, andmuch moreThe building has been outfitted with new electric, HVAC, plumbing,new doors, and upgraded hallways. There are 16 on-site parkingspaces, which are leased separately to tenants and neighbors. Theproperty has a detached "Carriage House" in the rear that is acomplete house with a 1 car garage, 3 bedrooms, and an open livingspace.The ground floor front has 2 commercial spaces. One is leased on a5-year initial term with options to Denim Coffee, a regional favoriteand established brand. The second space has a tenantlined up.Located in rapidly appreciating neighborhood of Lancaster City with future benefit from CRIZ programs.
Listing Information
Property Type: Business Opportunities, Other
0.22 Acres 8,666 (approx) 1920
Brick
Public
Public Sewer
15 Total
Neighborhood
Room Information
Interior Features
Electric Water Heater
Electric Heating, Forced Air
Exterior / Lot Features
16 Parking Spaces,
Brick
0.00 x 0.00
CB with GRIZ in Downtown Investment District
Driving Directions
221 S King St, Lancaster PA 17603
Financial Considerations
331-88990-0-0000
$12,100
Listing Price History

Lancaster Real Estate

Lancaster is located in Pennsylvania. Lancaster, Pennsylvania 17603 has a population of 61,412.

The median household income in Lancaster, Pennsylvania 17603 is $56,664. The median household income for the surrounding county is $68,791 compared to the national median of $66,222. The median age of people living in Lancaster 17603 is 40 years.

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Courtesy: Capstone Commercial
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
This content last refreshed on 5/14/2024 8:39 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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