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221 W King Street, Lancaster, PA 17603
$2,548,500
221 W King Street, Lancaster, PA 17603View this property at 221 W King Street, Lancaster, PA 17603
221 W King StreetLancasterPA17603
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Property Description
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.
Full Property Details
Full Property Details for 221 W King St
General
- Price: $2,548,500
- Taxes: $12,100 (2022)
- Status: Active
- Type: Apartment
- MLS ID: PALA2046434
- Updated: 4/10/2024
- Added to Site: 86 day(s) ago
Business
- Business Type: Apartment Building
Parking
- Total Spaces: 16
- Parking Type: Parking Lot
Location
- Area: Lancaster City (10533)
- Municipality: LANCASTER CITY
- County: Lancaster
- Driving Directions: 221 S King St, Lancaster PA 17603
Heating & Cooling
- Cooling Type: Ductless/Mini-Split
- Cooling Fuel: Electric
- Heating Type: Forced Air
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick
- Stories/Levels: 0
- Year Built: 1920
- Year Built Source: Assessor
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.22
- Lot Size (Sq. Ft.): 9,583
- Lot Size Source: Assessor
- Lot Dimensions: 0.00 x 0.00
- Zoning: CB WITH CRIZ
Financial Considerations
- Price Per Sq. Ft.: $294.08
- Assessment Year: 2023
- School Tax: $7,344
- City/TownTax: $3,865
- City/TownTax Freq: Annually
- County Tax: $890
- County Tax Freq: Annually
- Tax w/Assessment: $305,800
- Tax Amount: $12,100
- Tax Year: 2022
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Ownership: Fee Simple
- Investment: Yes
Listed by Capstone Commercial, Naomi E Brown
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Schools
Schools serving 221 W King St
School District:School District Of Lancaster
Rating | Name | Grades | Distance |
---|---|---|---|
225 W Orange St, Lancaster, PA 17603 | PK-5 | 0.1 mi | |
605 W Walnut St, Lancaster, PA 17603 | 6-8 | 0.6 mi | |
445 N Reservoir St, Lancaster, PA 17602 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 221 W King St
Date
Details
Price
Change
Source
4/10/2024
Price Reduced
$2,548,500
-0.02%
MLS
3/08/2024
Price Reduced
$2,549,000
-1.96%
MLS
2/01/2024
Listed
$2,600,000
333.33%
MLS
1/18/2018
Sold
$600,000
—
Public Record
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
Tax History for 221 W King St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$12,100
6%
$305,800
—
2023
$11,401
—
$305,800
—
2022
$11,401
1%
$305,800
—
2021
$11,282
1%
$305,800
—
2020
$11,157
2%
$305,800
—
2019
$10,990
-14%
$305,800
—
2018
$12,803
45%
$305,800
60%
2017
$8,801
2%
$191,600
—
2016
$8,616
1%
$191,600
—
2015
$8,514
4%
$191,600
—
2014
$8,181
—
$191,600
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 221 W King St
221 W King Street, Lancaster, PA 17603 (MLS# PALA2046434) is a Apartment property. 221 W King Street is currently listed for $2,548,500 and was received on February 01, 2024. Want to learn more about 221 W King Street? 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.