540 King St Lancaster, PA 17602
- Apartment buildings
- 0.18 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 540 King St
- Year built
- 1890
- Lot size
- 0.18 lot acres
- Property type
- Apartment buildings
Description
This fee-simple, stabilized multifamily investment opportunity presents a well-maintained, five-unit apartment building situated in Lancaster City's historic East End at 540 E King St, Lancaster, PA 17602. Built in 1890 and extensively renovated between 2022 and 2024, this three-story Class B property boasts 100% occupancy as of October 1, 2024, generating a Net Operating Income (NOI) of $46,091. The property features a mix of unit sizes and tenant lease durations, offering a stable income stream. Adding to its appeal are two large garages, providing additional income potential or the possibility of tenant parking. The 0.18-acre lot offers ample space. The asking price is $650,000, translating to $130,000 per unit. The property is zoned residential and features a desirable location within Lancaster City's thriving rental market. This turnkey investment is perfect for adding to an existing portfolio or for first-time investors seeking a strong return. The property's APN is 337-31416-0-0000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.2936
- Latitude
- 40.0393
