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$527,000

  • Sold
  • Closed
  • Multi-Family
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SHOWINGS STARTING THURSDAY 1/30 . This fully-leased, 4-unit property offers a seamless blend of charm and functionality, making it a standout option for investors. Situated on a spacious corner lot by F&M College & West ART, everything tenants need is within walking distance. Recent upgrades include a newer roof (2019, per prior Seller's disclosure) & new gas furnace serving heat for the entire property. Each unit has its own private entrance which means there is no common halls. Off-street parking for 3 cars plus free street parking. Seller has kept rents low, intentionally. Market value rents in current condition would produce a 6.9% cap rate. Additional value adds include providing laundry for tenants, installing cooling systems, and renting the parking spaces. Potential to lease to college students for a higher rent and continual student base tenants. Tenants pay for electric. Landlord pays all other expenses. Agents can view the proforma under Documents or please request it. Information herein is deemed accurate however buyer shall confirm any information deemed important to them

Full Property Details for 365 College Ave

General

  • Sold For: $527,000
  • Taxes: $10,025 (2024)
  • Status: Closed
  • Type: Multi-Family
  • Source: BrightMLSPhilly
  • MLS ID: PALA2063562
  • Added to Site: 448 day(s) ago

Exterior

  • Exterior Features: Fire Escape

Parking

  • Total Spaces: 3
  • Parking Type: On Street, Off Street

Location

  • Area: Lancaster City (10533)
  • Municipality: LANCASTER CITY
  • County: Lancaster
  • Driving Directions: Take the exit for Harrisburg Pike (PA-741 East) toward Lancaster. Continue on Harrisburg Pike for approximately 2 miles. Turn right onto College Avenue. Drive for about 0.5 miles; 365 College Avenue will be on your right.

School Information

  • School District: School District Of Lancaster

Heating & Cooling

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

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Architectural Info: Other
  • Architectural Style: Other
  • Structure Type: End of Row/Townhouse
  • Construction: Brick, Masonry
  • Basement: Yes
  • Basement Desc.: Daylight, Partial
  • Foundation: Other
  • Roof: Rubber
  • Stories/Levels: 3
  • Square Feet: 3,375
  • Sq. Ft. Source: Estimated
  • Living Area: 3,375 Sq. Ft.
  • Finished Above Grnd: 3,175 Sq. Ft.
  • Year Built: 1905
  • Year Built Source: Assessor

Unit Information

  • 1 Bedroom Units: 2
  • 2 Bedroom Units: 2

Lot Features

  • Property View: City
  • Lot Size (Acres): 0.12
  • Lot Size (Sq. Ft.): 5,227
  • Lot Size Source: Assessor
  • Lot Dimensions: 0.00 x 0.00
  • Zoning: R3 - MEDIUM DENSITY

Financial Considerations

  • Price Per Sq. Ft.: $171.65
  • Assessment Year: 2024
  • School Tax: $6,126
  • City/TownTax: $3,168
  • City/TownTax Freq: Annually
  • County Tax: $729
  • County Tax Freq: Annually
  • Tax w/Assessment: $250,700
  • Tax Amount: $10,025
  • Tax Year: 2024
  • Terms: Standard Sale
  • Tax Total Finished Sq. Ft.: 3175

Disclosures and Reports

  • Ownership: Fee Simple

Listed by PPM Real Estate, Inc., Corinn E. Kirchner and PPM Real Estate, Inc., Alexandra Ebert
Sold by Alan H. Cherkin Real Estate, Alan H Cherkin

Listing agents

— 365 College Ave —

  • Corinn E. Kirchner

    PPM Real Estate, Inc.

  • Alexandra Ebert

    PPM Real Estate, Inc.

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with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 365 College Ave

School District:Lancaster School District
NameGradesDistance
Thomas Wharton El School
705 North Mary Street, Lancaster, PA 17603
K-50.4 mi
Reynolds Middle School
605 West Walnut Street, Lancaster, PA 17603
6-80.1 mi
Mccaskey Campus
445 North Reservoir Street, Lancaster, PA 17602
9-121.6 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 365 College Ave

Date
Details
Price
Change
Source
2/21/2025
Sold
$527,000
-3.3%
MLS
1/28/2025
Listed
$545,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by PPM Real Estate, Inc., Corinn E. Kirchner and PPM Real Estate, Inc., Alexandra Ebert
Sold by Alan H. Cherkin Real Estate, Alan H Cherkin

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365 College Avenue, Lancaster, PA 17603 (MLS# PALA2063562) is a Multi-Family property that was sold at $527,000 on February 21, 2025. Want to learn more about 365 College Avenue? 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.