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534 W James Street, Lancaster, PA 17603
$1,650,000
534 W James Street, Lancaster, PA 17603View this property at 534 W James Street, Lancaster, PA 17603
534 W James StreetLancasterPA17603
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Property Description
Prime Investment Opportunity: 11-Unit Property at 534 W. James Street, Lancaster, PA Discover an exceptional investment opportunity in the heart of Lancaster, PA, with this impressive 11-unit property located at 534 W. James Street. Situated in a vibrant neighborhood close to prestigious institutions such as F&M College and Lancaster Theological Seminary, as well as a plethora of dining, entertainment, and recreational options, this property promises not only lucrative returns but also a desirable location for tenants seeking convenience and culture. The Location: Convenience meets culture at 534 W. James Street. Nestled within walking distance to many great restaurants, coffee shops, and brew pubs, tenants will have easy access to Lancaster's culinary and social scene. Moreover, the property's proximity to Buchanan Park offers tenants a serene retreat for outdoor leisure activities. Within a short walk, residents can explore galleries, visit the historic Central Market, or enjoy an evening out at local brew pubs, making this location highly desirable for urban living enthusiasts. The Property: Boasting a mix of studio, one-bedroom, and two-bedroom units, this investment property caters to a diverse range of tenants, ensuring high occupancy rates and steady cash flow. Each unit is thoughtfully designed to maximize comfort and functionality. Safety and Compliance: Investors can rest assured knowing that the property is fully equipped with sprinkler systems for added safety, meeting the highest standards of fire protection. Additionally, the property is licensed by the City of Lancaster, ensuring compliance with local regulations and providing peace of mind to both owners and tenants alike. Income Potential: With its prime location and attractive unit mix, 534 W. James Street presents an exceptional income-generating opportunity for savvy investors. The property's proximity to academic institutions makes it particularly appealing to students and faculty members seeking off-campus housing. Additionally, the bustling neighborhood and array of nearby amenities ensure a steady stream of potential tenants year-round. Conclusion: Don't miss out on the chance to add this lucrative investment property to your portfolio. Whether you're a seasoned investor looking to expand your holdings or a first-time investor seeking a promising opportunity, 534 W. James Street offers the perfect combination of location, income potential, and safety.
Full Property Details
Full Property Details for 534 W James St
General
- Price: $1,650,000
- Taxes: $8,246 (2023)
- Status: Active
- Type: Apartment
- MLS ID: PALA2049324
- Updated: 4/10/2024
- Added to Site: 20 day(s) ago
Business
- Business Type: Apartment Building
Parking
- Parking Type: None
Location
- Area: Lancaster City (10533)
- Municipality: LANCASTER CITY
- County: Lancaster
- Development Name: College Hill
- Subdivision: College Hill
- Cross Streets: N. Pine
- Driving Directions: Corner of W. James and N. Pine Streets
School Information
- Elementary School: Wharton
- Middle School: John F Reynolds
- High School: McCaskey Campus
Heating & Cooling
- Cooling Type: Window Unit(s), Multi Units
- Cooling Fuel: Electric
- Heating Type: Baseboard - Electric
- Heating Fuel: Electric
- Water Heater: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Structural Information
- Construction: Brick
- Foundation: Stone
- Stories/Levels: 0
- Year Built: 1890
- Year Built Source: Assessor
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.06
- Lot Size (Sq. Ft.): 2,614
- Lot Size Source: Assessor
- Lot Dimensions: 0.00 x 0.00
- Zoning: R-4
Financial Considerations
- Assessment Year: 2023
- School Tax: $5,005
- City/TownTax: $2,634
- City/TownTax Freq: Annually
- County Tax: $606
- County Tax Freq: Annually
- Tax w/Assessment: $208,400
- Tax Amount: $8,246
- Tax Year: 2023
- Owner Pays: Gas, Pest Control, Sewer, Taxes - Real Estate, Water, Advertising/Licenses and Permits, Common Area Maintenance, Insurance, Trash Collection, Snow Removal, Repairs
- Landlord Pays: Gas, Pest Control, Sewer, Taxes - Real Estate, Water, Advertising/Licenses and Permits, Common Area Maintenance, Insurance, Trash Collection, Snow Removal, Repairs
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Ownership: Fee Simple
- Exclusions: none
- Inclusions: all existing appliances
- Investment: Yes
Listed by RE/MAX Pinnacle, Gilbert B Lyons Jr
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Schools
Schools serving 534 W James St
School District:School District Of Lancaster
Rating | Name | Grades | Distance |
---|---|---|---|
705 N Mary St, Lancaster, PA 17603 | PK-5 | 0.3 mi | |
605 W Walnut St, Lancaster, PA 17603 | 6-8 | 0.2 mi | |
445 N Reservoir St, Lancaster, PA 17602 | 9-12 | 1.4 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 534 W James St
Date
Details
Price
Change
Source
4/09/2024
Listed
$1,650,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 534 W James St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,246
6%
$208,400
—
2023
$7,770
—
$208,400
—
2022
$7,770
1%
$208,400
—
2021
$7,689
1%
$208,400
—
2020
$7,603
2%
$208,400
—
2019
$7,490
-14%
$208,400
—
2018
$8,725
31%
$208,400
44%
2017
$6,660
2%
$145,000
—
2016
$6,520
1%
$145,000
—
2015
$6,443
4%
$145,000
—
2014
$6,191
—
$145,000
—
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 534 W James St
534 W James Street, Lancaster, PA 17603 (MLS# PALA2049324) is a Apartment property. 534 W James Street is currently listed for $1,650,000 and was received on April 09, 2024. Want to learn more about 534 W James 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.