About 221-223 W King St
15 Unit Property - 13 Residential Units & 2 Commercial Units- Seller open to holding a second mortgage- see agent for details. Just off a top-to-bottom renovation that brought fresh and innovative ideas, the Kings Place Apartments is a 15-unit property set up for long term cash flow and appreciation. Units have been thoughtfully designed to provide all the amenities tenants wany in an efficient and comfortable space. Each unit includes a washer & dryer, dishwasher, granite counters, luxury vinyl plank floors, tile bathrooms, gleaming white cabinets, stainless steel appliances, and much more The building has been outfitted with new electric, HVAC, plumbing, new doors, and upgraded hallways. There are 16 on-site parking spaces, which are leased separately to tenants and neighbors. The property has a detached "Carriage House" in the rear that is a complete house with a 1 car garage, 3 bedrooms, and an open living space. The ground floor front has 2 commercial spaces. One is leased on a 5-year initial term with options to Denim Coffee, a regional favorite and established brand. The second space has a tenant lined up. Located in rapidly appreciating neighborhood of Lancaster City with future benefit from CRIZ programs.
Features of 221-223 W King St
| MLS® # | PALA2046434 |
|---|---|
| Price | $2,548,500 |
| Bathrooms | 0.00 |
| Square Footage | 8,666 |
| Acres | 0.22 |
| Year Built | 1920 |
| Type | Commercial Sale |
| Sub-Type | Five Or More Units |
| Status | Active |
Community Information
| Address | 221-223 W King St |
|---|---|
| Area | Lancaster City (10533) |
| City | LANCASTER |
| County | LANCASTER-PA |
| State | PA |
| Zip Code | 17603 |
Amenities
| Is Waterfront | No |
|---|
Interior
| Heating | Forced Air |
|---|---|
| Cooling | Ductless/Mini-Split |
| Has Basement | No |
| Fireplace | No |
Exterior
| Exterior | Brick and Siding |
|---|
School Information
| District | SCHOOL DISTRICT OF LANCASTER |
|---|
Additional Information
| Date Listed | February 1st, 2024 |
|---|---|
| Days on Market | 86 |
| Zoning | CB WITH CRIZ |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Listing Agent | Naomi Brown |
|---|---|
| Listing Office | Capstone Commercial |
| Listing Office Phone | 7178192825 |