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

Investment properties

Property subtype

Multifamily properties

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

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].