534 W James Street Lancaster, PA $ 1,650,000
534 W James Street
$ 1,650,000
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534 W James Street

Lancaster, PA, 17603
$ 1,650,000
Baths0.0 Sq 5,879

Monthly Estimate*

$ 11,526

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Studio

Commercial Property for sale in Lancaster, PA

for $1,650,000. This 5,879 square foot building was built in 1890 on a lot size of 0.06.

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.

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Commercial Contingent

Price

$ 1,650,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 8,246

Style

Apartment Building

Lot Size

0.06

Year Built

1890

Town/City

Lancaster

County/Region

Lancaster

MLS | Web ID

PALA2049324

Features
Interior
Heating Fuel Electric
Hot Water Natural Gas
Heating Y/N Y
Street Suffix STREET
Central Air Y/N N
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General
Sewer Public Sewer
Heating Baseboard - Electric
Cooling Window Unit(s) Multi Units
Utilities Cable TV Available Electric Available Natural Gas Available Sewer Available Water Available
Possession Immediate
Zoning R-4
Construction Materials Brick
Exclusions none
Year Built 1890
Electric 200+ Amp Service Circuit Breakers
Property SubType Five Or More Units
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Electric
Municipality LANCASTER CITY
Business Type Apartment Building
Accessibility None
County LANCASTER
Net Operating Income 115124.00
New Construction N
Property Type Commercial Sale
Subdivision Name COLLEGE HILL
Possible Use Apartment Building Laundromat Multi-Family Mixed Use
Water Access Y/N N
Status ACTIVE UNDER CONTRACT
Directions Corner of W. James and N. Pine Streets
City LANCASTER
Buyer Agent Compensation 3
Disclosures Prop Disclosure Rental Permits
Zoning Description High Density Residential
Total Units 4
MLS Area Lancaster City (10533)
Lot Size Square Feet 2614.00
Waterfront Y/N N
Street Name JAMES
Tax Annual Amount 8246.0
Acceptable Financing Cash Bank Portfolio Exchange
Vacation Rental Y/N N
Virtual Tour https://360tourdesigns-central-pa.hd.pics/534-W-James-St/idx
Days on Market 38
Standard Status Active Under Contract
Year Built Source Assessor
Cap Rate 7.00
Buyer Agent Compensation Type % Of Gross
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Exterior
Water Source Public
Inclusions all existing appliances
Type of Parking None
Foundation Details Stone
Water View Y/N N
Building Area Total 0.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.06
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 26800.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 534
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* Excluded Features
List By
Re/Max Pinnacle

Broker

gil@gillyons.com

Email

Affordability Calculator

$12,213
Per Month
94%
6%
0%
Monthly Principal & Interest
$11,526
Monthly Property Taxes
$687
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/9/2024$1,650,000 Listed Price

Map


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534 W James Street, Lancaster, PA, 17603 is a Commercial Property for sale at $1,650,000 with 5,879 sqft and a lot size of 0.06. 534 W James Street is a studio with 0.0 baths and was built in 1890. The property's zip code is 17603 which is in Lancaster, PA