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$1,390,000 Just Listed

  • For Sale
  • Active
  • Apartment
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Historic three-story downtown investment property full of charm and character, featuring 10 apartments in a prime location within walking distance to Franklin & Marshall College. This well-maintained building showcases original hardwood floors, timeless architectural details, and the classic appeal of a solidly built historic structure. Owner-managed for over 20 years, the property offers gas heat, separate electric meters for each unit, and on-site coin-op laundry. One vacant unit is currently being renovated, creating immediate upside potential. Low operating expenses contribute to a strong return, making this a rare opportunity to own a stable multifamily asset with solid income and enduring character in the heart of downtown.

Full Property Details for 135- 137 College Ave

General

  • Price: $1,390,000
  • Taxes: $12,214 (2025)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSPhilly
  • MLS ID: PALA2087588
  • Updated: Today (5/5/2026)
  • Added to Site: Today

Business

  • Business Type: Apartment Building

Interior

  • Flooring: Hardwood, Vinyl

Rooms

Bathrooms

  • Restrooms: 10

Parking

  • Parking Type: On Street

Location

  • Area: Lancaster City (10533)
  • Municipality: LANCASTER CITY
  • County: LANCASTER
  • Driving Directions: Refer to GPS.
  • Location Details: Downtown

Heating & Cooling

  • Cooling Type: Ceiling Fan(s), Window Unit(s)
  • Heating Type: Radiator
  • Heating Fuel: Natural Gas
  • Water Heater: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Brick
  • Roof: Rubber
  • Stories/Levels: 3
  • Year Built: 1890
  • Year Built Source: Assessor

Unit Information

  • # Tenants: Multiple
  • Other Units: Unit 1, Unit 2, Unit 4, Unit 5, Unit 8, Unit 3, Unit 6, Unit 7, Unit 9, Unit 10

Lot Features

  • Property View: City, Street
  • Lot Size (Acres): 0.1
  • Lot Size (Sq. Ft.): 4,356
  • Lot Size Source: Assessor
  • Zoning: MULTI- FAMILY

Financial Considerations

  • Operating Expenses: $33,239
  • Assessment Year: 2026
  • School Tax: $7,531
  • City/TownTax: $3,736
  • City/TownTax Freq: Annually
  • County Tax: $946
  • County Tax Freq: Annually
  • Tax w/Assessment: $295,600
  • Tax Amount: $12,214
  • Tax Year: 2025
  • Owner Pays: Water, Sewer, Trash Collection, Gas

Disclosures and Reports

  • Ownership: Fee Simple
  • Inclusions: Coin Op Washer& Dryer; Appliances in each unit.
  • Investment: Yes
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 135- 137 College Ave —

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 135- 137 College Ave

School District:Lancaster School District
NameGradesDistance
Thomas Wharton El School
705 North Mary Street, Lancaster, PA 17603
K-50.7 mi
Reynolds Middle School
605 West Walnut Street, Lancaster, PA 17603
6-80.2 mi
Mccaskey Campus
445 North Reservoir Street, Lancaster, PA 17602
9-121.7 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 135- 137 College Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/05/2026
Listed
$1,390,000
312.46%
MLS
11/15/2004
Sold
$337,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 135- 137 College Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$11,821
1%
$295,600
—
2024
$11,697
6%
$295,600
—
2023
$11,021
—
$295,600
—
2022
$11,021
1%
$295,600
—
2021
$10,906
1%
$295,600
—
2020
$10,785
2%
$295,600
—
2019
$10,623
-14%
$295,600
—
2018
$12,376
27%
$295,600
39%
2017
$9,733
2%
$211,900
—
2016
$9,529
1%
$211,900
—
2015
$9,416
4%
$211,900
—
2014
$9,048
—
$211,900
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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135- 137 College Avenue, Lancaster, PA 17603 (MLS# PALA2087588) is a Apartment property. 135- 137 College Avenue is currently listed for $1,390,000 and was received on May 05, 2026. This property is listed by Wendell Huyard Team from our Lancaster Office.Want to learn more about 135- 137 College Avenue? Do you have questions about finding other Apartment real estate for sale in Lancaster? You can browse all Lancaster real estate or contact a Coldwell Banker agent to request more information.

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