507 N Lime St - Apartments FOR SALE


Lancaster, PA 17602- Ross
$399,000 USD
717-731-1990
507 N Lime St, Lancaster, PA for Sale
$399,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

507 N Lime St
Lancaster, PA 17602
Ross


HIGHLIGHTS

  • Excellent location adjacent to Lancaster General Hospital Downtown Campus
  • Recently replaced furnace and recently installed PEX plumbing
  • Value-add potential through modest renovations
  • Increasing demand among young professionals for Downtown Lancaster apartments
  • Supply constrained neighborhood suggesting consistent organic rent growth into the future
  • Potential to lease to traveling nurses at Lancaster General Hospital on mid-term basis at premium rates

OVERVIEW

Presented by Landmark Commercial Realty, this well-located 3-unit property offers an outstanding investment opportunity in Downtown Lancaster, directly across from the Lancaster General Hospital Downtown Campus. The property spans 2,496 SF and features recent updates, including a new furnace and PEX plumbing in 2 of the 3 units. With average rental rates of $1,077 per month, the property consists of two 1- bedroom, 1-bathroom units and one 2-bedroom, 1-bathroom unit. This property will be a valuable addition to an existing multi-family portfolio, while its size and price point are also modest enough to appeal to first time investors and house hackers. Set on a 0.07-acre lot along Park Ave, the property offers easy access to all the amenities Downtown Lancaster has to offer. Tenants will enjoy close proximity to shopping, dining, healthcare, and recreational options, including nearby parks and Clipper Magazine Stadium, home of the Lancaster Barnstormers. With strong rental demand and significant investment potential, this property represents a valuable addition to any real estate strategy

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

3

PRICE/UNIT

$133,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1897

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,277 SF

ZONING

-

APN/PARCEL ID

336-71964-0-0000

ASK ABOUT THIS PROPERTY

Mike Rohm CCIM, MAILandmark Commercial RealtyMore Info
717-731-1990

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Mike Rohm CCIM, MAILandmark Commercial RealtyMore Info
717-731-1990

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.