$270,000
$285,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
348 W ORANGE ST Lancaster, PA 17603
1,920 SqFt
Key Details
Sold Price $270,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 1,920 sqft
Price per Sqft $140
Subdivision Chestnut Hill
MLS Listing ID PALA2017484
Sold Date 06/30/22
Originating Board BRIGHT
Year Built 1890
Annual Tax Amount $4,988
Tax Year 2022
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 0.00 x 0.00
Property Description
**Rare Mixed Use Investment Property in Chestnut Hill, Lancaster City!** NOI is $16,116.20 (see income/expense sheet under Documents). First floor is commercial and currently leased to long term tenant, Ego Trip Salon. Tenant has lease through 8/31/24. This space offers a large retail storefront window with signage, plenty of windows/natural light and the rear ceiling was removed to expose wood beams and increased ceiling height! Suite also includes a kitchenette, powder room, private room/office and 2 doors to the brick patio. Prior to the salon, the space was leased to a marketing office, so it is well suited for a variety of uses! The upper floors are a one bedroom apartment that has always leased easily. Today's market rent for this unit could be $1,250/month. The apartment features a an updated kitchen, laundry in unit, private balcony with glass door and storm door for sunny days, large bedroom with multiple closets and the 3rd floor is finished nicely with exposed brick, 2 windows (replaced), closet and storage in the eaves. Tenants have all used this as their living room but it could be the bedroom if a Tenant desired. There is a large yard and brick patio. (note that the parcel extends beyond the fence and owns the "second yard" area. Commercial tenant maintains the brick patio and apartment tenant cuts the grass as they both share access to the yard. Landlord pays for someone to cut the grass in the "second yard", which is the landscaping fee shown in the income/expense sheet under Documents. Each Tenant pays for their own gas heat and own electric. The hot water heater is on the salon's gas bill, and the lease states the commercial Tenant pays for the hot water. Additionally, the salon pays for 80% of the water, sewer and trash bills. ....... Disclosures: Sq. Ft. is estimated and includes the finished 3rd floor - Buyer to confirm sq. ft. | Seller is Licensed PA Broker | Listing Agent is related to Seller.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning R4
Interior
Hot Water Natural Gas
Heating Radiant, Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 335-00276-0-0000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Ralphy A Louis • RE/MAX Patriots