NOT LISTED FOR SALE
Studio
-- Bath
6,249 Sq Ft
3,049 Sq Ft Lot

Sale Details

Date Sold: August 25, 2023

Last sale price $725,000 $116 Per Sq Ft

105 Days on Market

Highlights

  • Wood Flooring
  • Awning
  • Radiator
  • Level Entry For Accessibility
  • Property is in very good condition
  • 3-minute walk to Binns Park

About This Home

As of August 2023

Location...Location...Location! Located in the heart of downtown Lancaster...this well maintained 4 unit apartment building is close to everywhere you want to be in Lancaster. Neighbors to Red Rose Transit Authority, Brooklyn Pizza, Subway and many other restaurants and retail users, this building defines Prime Real Estate! In just a year from now a 12 story and 142 unit luxury apartment building will be standing directly across the street from this building. The project will consists of studio apartments , 1 bedroom and 2 bedroom units priced from $1300-$2000 per month. 243-245 N Queen St consists of 2700 sqft of storefront along with 3 nicely sized and updated apartments that are all occupied. It's not often an income producing property like this hits the market so don't miss your opportunity to be the New Owner!

Last Agent to Sell the Property

Lance Lopez

(717) 735-8400 cpalancasteradmins@coldwellbankermoves.com Coldwell Banker Realty Listed on: 03/01/2023

Coldwell Banker Realty

Last Buyer's Agent

Lance Lopez

(717) 735-8400 cpalancasteradmins@coldwellbankermoves.com Coldwell Banker Realty Listed on: 03/01/2023

Coldwell Banker Realty
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,184

Year Built

  • Built in 1870

Lot Details

  • 3,049 Sq Ft Lot
  • Property is in very good condition

Parking

  • On-Street Parking

Home Design

  • 6,249 Sq Ft Home
  • Flat Roof Shape
  • Brick Exterior Construction
  • Rubber Roof

Flooring

  • Wood
  • Carpet
  • Laminate
  • Ceramic Tile

Schools

  • Mccaskey High School

Utilities

  • Window Unit Cooling System
  • Radiator
  • Heating System Uses Oil
  • 220 Volts
  • Oil Water Heater

Additional Features

  • Level Entry For Accessibility
  • Awning

Listing and Financial Details

  • The owner pays for heat, insurance, repairs, sewer, real estate taxes, trash collection, water
  • Assessor Parcel Number 336-71683-0-0000

Community Details

Overview

  • 4 Units
  • 3-Story Building

Building Details

  • Income includes apartment rentals
  • Insurance Expense $1,768
  • Trash Expense $864
  • Operating Expense $26,176
  • Net Operating Income $43,634

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,184

Year Built

Built in 1870

Lot Details

3,049 Sq Ft Lot

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Over Storefront
  • Accessibility Features: Level Entry - Main
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1870
  • Automatically Close On Close Date: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Flooring Type: Carpet, Ceramic Tile, Hardwood, Laminate Plank
  • Total Sq Ft: 6249
  • Living Area Sq Ft: 6249
  • Price Per Sq Ft: 120.00
  • Above Grade Finished Sq Ft: 6249
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Brick
  • Exterior Features: Awning(s), Sidewalks
  • Roof: Flat, Rubber
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Electric Service: 220 Volts
  • Heating Fuel: Oil
  • Heating Type: Radiator
  • Heating: Yes
  • Hot Water: Oil
  • Sewer/Septic System: Public Sewer
  • Utilities: Other
  • Water Source: Public

Condo/Co-op/Association

  • Association Recreation Fee: No

Schools

  • School District Source: Listing Agent
  • High School: MCCASKEY H.S.

Lot Info

  • Lot Size Acres: 0.07
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 3049.00
  • Property Condition: Very Good
  • Zoning: COMMERIAL

Rental Info

  • Owner Pays: Heat, Insurance, Repairs, Sewer, Taxes - Real Estate, Trash Collection, Water
  • Rent Control: No
  • Total Actual Rent: 68280.00
  • Units Leased Count: 4
  • Vacation Rental: No

Tax Info

  • School Tax: 6879.00
  • Tax Annual Amount: 11184.00
  • Assessor Parcel Number: 336-71683-0-0000
  • County Tax Payment Frequency: Annually
  • Tax Year: 2022

Multi Family

  • Gross Income: 69660.00
  • Income Includes: Apartment Rentals
  • Operating Expense: 26176.00
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3

MLS Schools

  • School District Name: SCHOOL DISTRICT OF LANCASTER

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/25/2023 08/25/23 Sold $725,000 -3.3% $116 / Sq Ft
06/14/2023 06/14/23 Pending -- -- --
05/09/2023 05/09/23 Price Changed $749,900 -6.3% $120 / Sq Ft
03/01/2023 03/01/23 For Sale $799,900 -- $128 / Sq Ft
Source: Bright MLS

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Map

Source: Bright MLS

MLS Number: PALA2030116

Bright MLS
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