624 Queen St Lancaster, PA 17603
- Residential income homes
- 12,828 SF
- 0.63 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 624 Queen St
- Year built
- 1900
- Lot size
- 0.63 lot acres
- Property size
- 12,828 SF
- Property type
- Residential income homes
- APN
- 334-37179-0-0000
Description
Exceptional investment opportunity in Lancaster City, Pennsylvania. This stabilized multifamily portfolio comprises seven buildings totaling 12,828 square feet on a 0.63-acre lot. The property includes a 5-unit apartment building and five single-family homes, all currently 100% occupied, generating a substantial net operating income (NOI) of $113,273. The portfolio offers ten units and ten garages, providing ample parking. The property is zoned for residential and commercial use, presenting potential for future expansion or increased density given the sizable vacant area on the lot. The buildings, constructed in 1900, are classified as Class C. The asking price is $1,700,000, representing a price per unit of $170,000 and a compelling 6.66% cap rate. Individual property addresses included in this sale are 618 S Queen St, 620 S Queen St, 622 S Queen St, 624-626 S Queen St, 619 Beaver St, and 621 Beaver St. The combined tax parcel numbers are 334-34579-0-0000, 334-40665-0-0000, 334-40848-0-0000, 334-37179-0-0000, 334-28147-0-0000, and 334-28331-0-0000. This fee-simple ownership opportunity is conveniently located minutes from Lancaster City Square. Note that square footage and lot size are estimated combined totals for all properties.
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
- -76.303571869318
- Latitude
- 40.027384625284
