624 Queen StLancaster, PA 17603

Property Details for 624 Queen St

Year built

1900

Lot size

0.63 AC

Property size (Sq ft)

12,828 SF

Property type

Residential income homes

Property subtype

Apartment buildings

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.

Location Insight

City

Lancaster

County

Lancaster

State

Pennsylvania

Latitude

40.0274

Longitude

-76.3036

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