5-Unit Value-Add Opportunity in the Heart of Lancaster City Looking for a multifamily with real upside in one of the most in-demand rental markets. 126 N Mulberry Street offers five 1-bedroom units in a location renters actively seek out, with current rents totaling just $2,900 per month ($34,800 annually). That's… Read More an average of $580 per unit, well below what 1-bedrooms command downtown today. Location is the story. Tucked into the historic northwest quadrant of downtown, this property puts tenants just a short walk from everything that makes Lancaster City such a desirable place to live. Central Market, Penn Square, the Prince Street Gallery Row, the Fulton Theatre, and a long list of restaurants, coffee shops, and breweries are all close by. Franklin & Marshall College and the Lancaster Amtrak station are an easy trip, making this a natural fit for young professionals, grad students, healthcare workers, and commuters heading to Philly or Harrisburg. Built for the value-add investor. The building itself is solid and has been well cared for, so the heavy lifting is already done. The units are ready for updating, which is exactly where the opportunity lies. Refresh the interiors as leases turn and bring rents up to market, and you'll see what this property can really do. The 1-bedroom unit mix is one of the easiest to keep filled in the city, giving you steady demand while you reposition. Whether you're growing your portfolio or picking up your first small multifamily, downtown buildings with this kind of upside don't come along often. Rent roll available upon request. Call today to schedule your showing. 24 hour notice required. Read Less
Courtesy of Wendy L Stauffer, Kingsway Realty - Ephrata 717-733-4777
Listing Snapshot
Days Online
0
Last Updated
Property Type
Commercial
Square Ft.
2,568
Lot Size
0.02 Acres
Year Built
1890
MLS Number
PALA2097166
Additional Details
Building
Built in 1890, Construction Materials: Brick
Cooling
None
Accessibility Features
None
Expenses
Electric: $390, Trash: $1,124, Other Expense: $2,086
Heating
Hot Water
Income
Gross ScheduledIncome: $34,620, Apartment Rentals
Lot
0.02 acres
Owner Pays
Common Area Maintenance, Sewer, Trash Collection, Water, Heat
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
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