322 W James St Lancaster, PA 17603
Chestnut Hill NeighborhoodEstimated payment $3,737/month
Highlights
- Colonial Architecture
- Oversized Parking
- Multi-Tank Natural Gas Water Heater
- 1 Car Direct Access Garage
- Electric Baseboard Heater
- 4-minute walk to Northwest Corridor Park
About This Home
Turnkey 3-Unit Investment Property in Prime LocationWelcome to 322 W. James Street, a beautifully renovated three-unit investment property ideally located in the heart of Lancaster City. Built in 1900 and thoughtfully updated from basement to roof, this exceptional property offers the perfect blend of historic charm and modern convenience—making it an outstanding opportunity for investors or owner-occupants seeking rental income.This well-maintained property features two spacious 1-bedroom apartments and one 2-bedroom apartment, offering strong rental appeal and excellent tenant retention. Each unit has been upgraded with modern kitchens and baths, gleaming wood floors, and attractive finishes that retain the character of the original structure.Updated Systems & Smart Investment DesignOne of the most valuable features of this property is the separated electric and gas utilities—a major convenience for both landlords and tenants. Each unit operates independently for efficiency and ease of management.The spacious basement provides ample storage space for tenants, along with a coin-operated washer and dryer, creating an added source of income and convenience. These thoughtful upgrades demonstrate a clear attention to detail and an understanding of long-term investment strategies.Added Bonus: Oversized Garage & Private Rear YardUnlike many multi-unit city properties, 322 W. James Street includes an oversized garage—perfect for parking, storage, or potential additional rental income. The private rear yard offers green space for tenants to enjoy and adds to the overall appeal of the property.Ideal Walkable LocationLocated in a highly desirable neighborhood, this property is just a short walk to Franklin & Marshall College, Lancaster General Hospital, and beloved local favorites like LUCA Restaurant, The Fridge, Mean Cup, and the Lancaster Barnstormers ballpark. The area is also home to numerous boutiques, coffee shops, galleries, and brew pubs—making this a highly rentable location for professionals, students, and city dwellers alike.With easy access to major roads, public transportation, and vibrant downtown Lancaster, this property offers everything savvy investors look for: location, updates, income potential, and long-term growth.Don’t miss this rare opportunity to own a fully renovated, income-generating 3-unit property in one of Lancaster’s most sought-after neighborhoods. Whether you’re building your portfolio or looking for a live-in investment, 322 W. James Street is a property you won’t want to miss.Schedule your private showing today!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,668
Year Built
- Built in 1900
Lot Details
- 2,178 Sq Ft Lot
- Back Yard
Parking
- 1 Car Direct Access Garage
- Oversized Parking
- Parking Storage or Cabinetry
- Rear-Facing Garage
- Off-Street Parking
Home Design
- Triplex
- Colonial Architecture
- Brick Exterior Construction
- Pillar, Post or Pier Foundation
- Stone Foundation
- Masonry
Interior Spaces
- 2,642 Sq Ft Home
- Insulated Windows
- Fire and Smoke Detector
Schools
- Wharton Elementary School
- John F Reynolds Middle School
- Mccaskey Campus High School
Utilities
- Back Up Electric Heat Pump System
- Electric Baseboard Heater
- Multi-Tank Natural Gas Water Heater
- Municipal Trash
- Phone Available
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 339-91172-0-0000
Community Details
Overview
- 3 Units
- Chestnut Hill Subdivision
Building Details
- Income includes apartment rentals, laundry, parking
- Gross Income $51,471
- Net Operating Income $36,007
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,669 | $193,800 | $33,200 | $160,600 |
| 2023 | $7,540 | $193,800 | $33,200 | $160,600 |
| 2022 | $7,226 | $193,800 | $33,200 | $160,600 |
| 2021 | $7,071 | $193,800 | $33,200 | $160,600 |
| 2020 | $7,071 | $193,800 | $33,200 | $160,600 |
| 2019 | $6,965 | $193,800 | $33,200 | $160,600 |
| 2018 | $4,133 | $193,800 | $33,200 | $160,600 |
| 2017 | $5,268 | $114,700 | $18,600 | $96,100 |
| 2016 | $5,220 | $114,700 | $18,600 | $96,100 |
| 2015 | $2,036 | $114,700 | $18,600 | $96,100 |
| 2014 | $4,556 | $114,700 | $18,600 | $96,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/07/2025 05/07/25 | Pending | -- | -- | -- |
| 05/07/2025 05/07/25 | Price Changed | $552,000 | +5.1% | $209 / Sq Ft |
| 05/01/2025 05/01/25 | For Sale | $525,000 | -- | $199 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $213,776 | None Available | |
| Deed | $151,900 | None Available | |
| Deed | $155,000 | None Available | |
| Deed | $97,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $149,603 | New Conventional | |
| Previous Owner | $141,520 | Purchase Money Mortgage | |
| Previous Owner | $139,500 | Balloon | |
| Previous Owner | $96,239 | FHA |
Source: Bright MLS
MLS Number: PALA2069126
APN: 339-91172-0-0000
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