Lancaster, PA 17603,348 W ORANGE ST
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Lancaster, PA 17603,348 W ORANGE ST
Lancaster, PA 17603,348 W ORANGE ST
Lancaster, PA 17603,348 W ORANGE ST
Lancaster, PA 17603,348 W ORANGE ST

$270,000

Est. payment /mo

$285,000

5.3%
Est.Price: ?

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348 W ORANGE ST Lancaster, PA 17603

1,920 SqFt

SOLD DATE : 06/30/2022

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

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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Bright MLS (BMLS)
Listed by Corinn E. Kirchner • PPM Real Estate, Inc.
Bought with Ralphy A Louis • RE/MAX Patriots

Nancy Gowan

Advisor | License ID: 669926

+1(858) 603-2774

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