Five-Unit Multifamily
For Sale
$995,000
205 E King Street, Lancaster, PA 17602
Mixed-use configuration combines four residences with a dedicated first-floor commercial suite and shared outdoor areas.
Property Size3,049 SF
Price / SF$326.34
Days on Market57
Property Features for 205 E King Street
General Information
Standard status
Active
Size
3,049 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
4
Amenities
garage
deck
large backyard
shared patio
Building Details
Year Built
1870
Listing Agency:
Lusk & Associates Sotheby's International Realty
Listed By:
Anne M Lusk · License #RS210178L
(717) 271-9339
Source:
Deepcreeklake
Added: Aug 11
Changed: Oct 6
Last Checked: Oct 5 at 8:40PM
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
Investment Insights
Based on property information with market context.
Built in 1870, this 3,049-square-foot multifamily property contains four residential units and a separate first-floor commercial space. The residential component includes a carriage house with a lower-level garage, kitchen, bathroom, two-story living room, lofted sleeping area, private deck, and access to a large backyard. Additional residences include one-bedroom, one-bath layouts with deck or patio access, plus a home-style unit arranged across the second and third floors with a mudroom entry, kitchen, living room, two bedrooms, and a full bath.
The property is located at 205 E King Street in Lancaster, within walking distance of restaurants, coffee shops, bakeries, shopping, and entertainment. Central Market, the Fulton Theatre, the Ware Center, and the courthouse are identified as nearby destinations. The commercial suite is presented as an unfinished space that can be configured for a variety of uses.
The property is located at 205 E King Street in Lancaster, within walking distance of restaurants, coffee shops, bakeries, shopping, and entertainment. Central Market, the Fulton Theatre, the Ware Center, and the courthouse are identified as nearby destinations. The commercial suite is presented as an unfinished space that can be configured for a variety of uses.
Key Highlights
- Five‑unit configuration with four residential units plus a dedicated commercial space
- 3,049‑square‑foot property built in 1870
- Carriage house includes a lower‑level garage and upper‑level living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,869
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,380
$757.4K
Cap Rate 7%
$540,986
$541.0K
Cap Rate 9%
$420,767
$420.8K
Market Conditions
NOI Build-Up for 3,049 SF
Gross rent
$65.9K $21.60/SF
− Vacancy
−$5.3K −$1.73/SF
EGI
$60.6K $19.87/SF
− OpEx
−$22.7K −$7.45/SF
NOI
$37.9K $12.42/SF
Area
Lancaster County, PA
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,380
Cap Rate 7%
$540,986
Cap Rate 9%
$420,767
Alternative Uses
Best Use
Mixed Use
$541.0K
$473.4K – $631.2K
NOI $37,869 @ 7.0% cap · market cap 3.81%
Second Best
Multifamily LT 5
$486.5K
$425.7K – $567.6K
NOI $34,057 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.02M
$894.0K – $1.19M
NOI $71,522 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,528
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Mixed-use configuration combines four residences with a dedicated first-floor commercial suite and shared outdoor areas.
Where is this multifamily property located?
The property is located at 205 E King Street Lancaster, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five‑unit configuration with four residential units plus a dedicated commercial space; 3,049‑square‑foot property built in 1870; Carriage house includes a lower‑level garage and upper‑level living area
