Residential Income Property with Private
145 E KING STREET #300, Lancaster, PA 17602
For Sale
New
$465,000
Two bedrooms, two outdoor decks, a private garage, and a deeded parking space serve this downtown Lancaster residence.
Property Size1,584 SF
Price / SF$293.56
Days on Market2
Property Features for 145 E KING STREET #300
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Public Transit
Amenities
two elevated decks
secure onsite storage cage
washer/dryer
granite countertops
stainless steel appliances
gas range
custom closet organizers
plantation shutters
ceramic tile
silk draperies
Building Details
Year Built
Listing Agency:
Lusk & Associates Sotheby's International Realty
(717) 291-9101
Listed By:
William Nicholas Reid · License #RS357434
(717) 327-3803
Source:
Cummingsrealtors
Added: Nov 6
Last Checked: Nov 6 at 2:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lusk & Associates Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This 1,584-square-foot residence, built in 2014, has two bedrooms and two full bathrooms, plus a main-level powder room. The open living and dining areas connect to a kitchen with granite counters, stainless steel appliances, and a gas range. Two elevated decks measure 9' x 15' each. Additional interior features include wood floors, ceramic bathroom tile, custom closet storage, window treatments, and a full-size washer and dryer.
Parking and storage include a private one-car garage with covered building access, a separate deeded surface space, and a secure onsite storage cage. The property is in downtown Lancaster, a few blocks from Central Market and near restaurants, shops, public transportation, and arts and entertainment venues.
Parking and storage include a private one-car garage with covered building access, a separate deeded surface space, and a secure onsite storage cage. The property is in downtown Lancaster, a few blocks from Central Market and near restaurants, shops, public transportation, and arts and entertainment venues.
Key Highlights
- 1,584 square feet; built in 2014
- Two bedrooms, two full bathrooms, and a main‑level powder room
- Two elevated decks, each measuring 9' x 15'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,603
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,060
$312.1K
Cap Rate 7%
$222,900
$222.9K
Cap Rate 9%
$173,367
$173.4K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$28.5K $18.00/SF
− Vacancy
−$143 −$0.09/SF
EGI
$28.4K $17.91/SF
− OpEx
−$12.8K −$8.06/SF
NOI
$15.6K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,060
Cap Rate 7%
$222,900
Cap Rate 9%
$173,367
Alternative Uses
Best Use
Apartment 5plus
$222.9K
$195.0K – $260.1K
NOI $15,603 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$530.8K
$464.5K – $619.3K
NOI $37,157 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,738
Businesses Nearby
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Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Lancaster, PA
Properties on Market for Residential income properties in Lancaster
Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, two outdoor decks, a private garage, and a deeded parking space serve this downtown Lancaster residence.
Where is this residential income property located?
The property is located at 145 E KING STREET #300 Lancaster, PA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1,584 square feet; built in 2014; Two bedrooms, two full bathrooms, and a main‑level powder room; Two elevated decks, each measuring 9' x 15'
