121 LAUREL Street, Lancaster, PA 17603
MULTI_FAMILY - Other - LANCASTER, PA
- Added:
- Jul 2, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 7 at 5:06 pm
Property Features for 121 LAUREL Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- Garage - Detached
- Appliances
- Oven/Range - Gas, Refrigerator
- Standard status
- Active
- Size
- 1,876 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4590
Utilities
- Heating system
- Hot Water(Heating), Other (Heating)
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Brick, Masonry
- Architectural style
- Other
Listing agent Matthew Joseph Koch License #RS339842 (717) 788-8347
Listing office Keller Williams Elite 5139 Main Street, East Petersburg, PA (717) 553-2500
Listing date Jul 2, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Three‑unit mixed‑use property with street‑level commercial space plus two residential apartments
- Commercial salon space currently leased for $575/month and occupied by a single‑chair salon
- One‑bedroom apartment leased for $900/month; two- to three‑bedroom apartment is vacant (previously rented for $1,500/month)
- Two detached garages on site for storage and potential rental or added income use
- Recent updates include nearly all replacement windows and a Lead Safe Certification obtained through the city last year
- Owner pays water, sewer, trash, and common area electric; residential units have washer/dryer hookups
Overview
Located at 121 Laurel Street in Lancaster, PA 17603, the property combines ground-floor retail frontage with separate apartment living. Two detached garages add additional storage capacity and may support future rental or tenant use depending on configuration.
For buyers or owner-occupants, the current mix of leases provides multiple income streams while keeping flexibility for the vacant apartment, which is ready for occupancy or lease. Operating expenses are partially accounted for by the owner, who currently pays water, sewer, trash, and common area electric. With documented updates and a commercial tenant in place, the property offers a practical, turnkey structure for an income-focused approach.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $21.60 |
| − Vacancy | −$3.2k | −$1.73 |
| EGI | $37.3k | $19.87 |
| − OpEx | −$14.0k | −$7.45 |
| NOI | $23.3k | $12.42 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.3155958
- Latitude
- 40.0318673
