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348 W Orange Street

LANCASTER, PA 17603
  • $285,000
  • STATUS: Pending
  • ON SITE: 25 Days
  • ID#: PALA2017484
Pending
$285,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1890
County:

School Ratings & Info

School District:

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.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Joy Daniels Real Estate Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-27T23:52:14.243.
www.centralpahomehunter.com/homes/128267052
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348 W Orange Street LANCASTER, PA 17603

  • Price: $285,000
  • Status: Pending
  • On Site: 25 Days
  • ID#: PALA2017484
0
Beds
0
Baths
0
½ Baths
0.07
Acres
1890
Built
Neighborhood:
Chestnut Hill
County:
Lancaster
Area:
Lancaster City (10533)
School District:
School District Of Lancaster
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.
Exterior Features

Construction Materials Brick Garage YN No Parking Types On Street Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 1920.00 Cooling Window Unit(S) Exclusions Tenant Owned Property Heating RadiantHot Water Heating YN Yes Net Square Feet 1920.00

Property Features

Acceptable Financing CashConventional Accessibility Features None Assessment Year 2022 Business Type Hair Salon And Spa Central Air YN No Cooling Fuel Electric Cross Street Charlotte Street Gross Income 24395.52 Heating Fuel Natural Gas Hot Water Natural Gas Lease Considered YN No Municipality Lancaster City Navigable Water YN N Net Operating Income 16113.20 New Construction YN No Number Of Units Total 2 Original MLSNumber 801518410006 Ownership Interest Fee Simple Possession Subject To Existing Lease Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4988.00 Tax Assessment Amount 133800.00 Vacation Rental YN No Water Source Public Zoning R4

Listing courtesy of Ppm Real Estate, Inc..


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Joy Daniels Real Estate Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-27T23:52:14.243.
 
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