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$500,000
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Property Description
Investor Alert - Lancaster City Cash Cow! Fully rented large detached 4 unit apartment building just three blocks from the downtown Lancaster City square! Building consists of two duplexes (separate tax IDs), totaling a whopping 5,408 square feet. The two duplexes have a combined basement, currently operating as a quadruplex with 4 large apartments. One duplex consists of a 4 bedroom, 1 bath apartment and a 1 bedroom, 1 bath apartment. The other duplex is a 3 bedroom, 1 bath apartment and a 3 bedroom, 1.5 bath apartment (with potential to split one of these huge apartments in half to make a 5th unit!). The two second floor units have been recently updated throughout, potential to continue upgrading first floor units and increase cash flow! Each apartment has two private entry doors, second floor units have a walk-up entry door AND a private street-level entrance (second-floor units can also enter through rear of building off of Strawberry St.) More to love: Custom craftsman features, hardwood floors, upgraded luxury vinyl tile and luxury vinyl plank flooring, high ceilings and tons of natural light give these apartments classic charm with durability in mind. Each apartment has a landlord-owned fridge and stove. Tenants are responsible for electric, heat (electric) & gas, Landlord pays trash, water & sewer. Located in an area experiencing large-scale investment and redevelopment, this freshly painted and well-maintained investment will become a top-producer in your portfolio for years to come! New rubber roof - 342 W King St. - 2022, new mansard roof - 342 W King St. - 2022, new rubber roof - 346 W King St. - Corner Unit (blue building) - 2024. Long term tenants and stable cash flow history with professional property manager in place. Mark your calendar! - Two upcoming showing options: Wednesday, April 2nd from 4pm-6pm and Saturday, April 5th from 1pm - 3pm. Showings will be open-house style, please call to register. Separate, private showings cannot be accommodated at this time. Please plan to come to one of the above-mentioned group showing times.
Full Property Details
Full Property Details for 342-346 W King St
General
- Sold For: $500,000
- Taxes: $7,993 (2023)
- Status: Closed
- Type: Multi-Family
- Source: BrightMLSPhilly
- MLS ID: PALA2066358
- Added to Site: 324 day(s) ago
Interior
- Interior Features: Additional Stairway, Bathroom - Stall Shower, Bathroom - Tub Shower, Built-Ins, Dining Area, Entry Level Bedroom, Floor Plan - Open, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Table Space, Upgraded Countertops
- Appliances: Oven - Single, Refrigerator, Water Heater
- Flooring: Hardwood, Luxury Vinyl Plank, Luxury Vinyl Tile, Solid Hardwood, Vinyl
Additional Information
- Security/Safety: Main Entrance Lock, Smoke Detector
Exterior
- Exterior Features: Awning(s), Bump-outs, Exterior Lighting, Sidewalks, Street Lights
- Porch/Patio/Deck: Porch(es), Deck(s)
Parking
- Parking Features: Public, Unassigned
- Parking Type: On Street
Location
- Area: Lancaster City (10533)
- Municipality: LANCASTER CITY
- County: Lancaster
- Development Name: Downtown Lancaster
- Subdivision: Downtown Lancaster
- Cross Streets: W Strawberry St.
- Driving Directions: From N Duke St., Turn right onto E Walnut St., Turn left onto N Charlotte St., Turn left onto W King St., Destination will be on the right.
- Location Details: Downtown
School Information
- School District: School District Of Lancaster
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard - Electric
- Heating Fuel: Electric
- Water Heater: Electric, Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable TV Available, Electric Available, Natural Gas Available, Phone Available, Sewer Available
Structural Information
- Architectural Info: Traditional
- Architectural Style: Traditional
- Structure Type: Detached
- Construction: Masonry
- Basement: Yes
- Basement Entrance: Yes
- Basement Desc.: Partial, Outside Entrance, Interior Access, Unfinished
- Foundation: Crawl Space, Permanent
- Roof: Architectural Shingle, Asphalt, Flat, Pitched, Rubber, Shingle
- Walls/Ceilings: High, Plaster Walls
- Windows: Bay/Bow, Double Hung, Replacement, Sliding, Transom, Vinyl Clad, Wood Frame
- Doors: Six Panel
- Stories/Levels: 0
- Square Feet: 6,384
- Sq. Ft. Source: Estimated
- Living Area: 5,408 Sq. Ft.
- Finished Above Grnd: 5,408 Sq. Ft.
- Unfin. Above Grnd: 40 Sq. Ft.
- Year Built: 1925
- Year Built Source: Assessor
- Property Condition: Very Good
Unit Information
- Other Units: Unit 1, Unit 2, Unit 4, Unit 3
- 1 Bedroom Units: 1
- 3 Bedroom Units: 2
Unit 1
- Unit Description: Unit 1
- Bedrooms: 1
Unit 2
- Unit Description: Unit 2
- Bedrooms: 4
Unit 3
- Unit Description: Unit 3
- Bedrooms: 3
Unit 4
- Unit Description: Unit 4
- Bedrooms: 3
Lot Features
- Property View: City, Street
- Lot Size (Acres): 0.07
- Lot Size (Sq. Ft.): 3,049
- Lot Size Source: Estimated
- Lot Features: Corner
- Zoning: R4
- Lot Description: Corner
Financial Considerations
- Price Per Sq. Ft.: $92.44
- Operating Expenses: $19,000
- Assessment Year: 2025
- School Tax: $4,851
- City/TownTax: $2,553
- City/TownTax Freq: Annually
- County Tax: $588
- County Tax Freq: Annually
- Tax w/Assessment: $202,000
- Tax Amount: $7,993
- Tax Year: 2023
- Terms: Standard Sale
- Owner Pays: Insurance, Management, Pest Control, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Water, Trash Collection
- Landlord Pays: Insurance, Management, Pest Control, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Water, Trash Collection
Disclosures and Reports
- Ownership: Fee Simple
- Exclusions: Tenant owned appliances and personal property
- Inclusions: Landlord owned appliances
Listed by Life Changes Realty Group, ERIN E STEWART
Sold by LPT Realty, LLC, Vuthy Taing
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Price & Sales History for 342-346 W King St
Date
Details
Price
Change
Source
5/20/2025
Sold
$500,000
0.02%
MLS
4/02/2025
Listed
$499,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
342-346 W King Street, Lancaster, PA 17603 (MLS# PALA2066358) is a Multi-Family property that was sold at $500,000 on May 20, 2025. Want to learn more about 342-346 W King Street? Do you have questions about finding other Multi-Family real estate for sale in Lancaster? You can browse all Lancaster real estate or contact a Coldwell Banker agent to request more information.

