Patterson-Schwartz Real Estate534 W James Street, Lancaster, PA 17603-2843 $1,650,000
Acreage: 0.06
Age:134 years
Taxes: $8,246
Subdivision: College Hill
Design/Type:
Other
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.
Home Assoc: No
Condo Assoc: No
Buyer Agency Comp*: 3 % Of Gross
Basement: Y
Pool: No Pool
Elem. School: WhartonMid. School: John F ReynoldsHigh School: Mccaskey Campus
Features
Utilities
Baseboard - Electric Heating, Electric, Window Unit(s) Cooling, Multi Units, Electric, Hot Water - Natural Gas, Public Water, Public Sewer, 200+ Amp Service, Circuit Breakers, Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Garage/Parking
None
Interior
Additional Stairway, Unfinished Basement
Exterior
Stone Foundation, Brick Exterior, Fire Escape, Sidewalks, Street Lights
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (24 schools)
Public Middle (8 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Reynolds Middle School | Lancaster School District | 6–8 | Lancaster | 0.2 mi |
| Wheatland Middle School | Lancaster School District | 6–8 | Lancaster | 1.03 mi |
| Jackson Middle School | Lancaster School District | 6–8 | Lancaster | 1.52 mi |
| Lincoln Middle School | Lancaster School District | 6–8 | Lancaster | 1.7 mi |
| Landis Run Intermediate School | Manheim Township School District | 5–6 | Lancaster | 3.93 mi |
| Manor Middle School | Penn Manor School District | 7–8 | Lancaster | 4.05 mi |
| Manheim Township Middle School | Manheim Township School District | 7–8 | Lancaster | 4.25 mi |
| Centerville Middle School | Hempfield School District | 7–8 | Lancaster | 4.35 mi |
Public High (6 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| La Academia Partnership Charter School | La Academia Partnership Charter School | 6–12 | Lancaster | 1.2 mi |
| Phoenix Academy | Lancaster School District | 6–12 | Lancaster | 1.38 mi |
| McCaskey Campus | Lancaster School District | 9–12 | Lancaster | 1.44 mi |
| Penn Manor High School | Penn Manor School District | 9–12 | Millersville | 3.45 mi |
| Manheim Township High School | Manheim Township School District | 9–12 | Lancaster | 4.12 mi |
| Lancaster County CTC-Willow St Campus | Lancaster County CTC | 9–12 | Willow Street | 4.93 mi |
Private (19 schools)
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This report is a detailed community overview for Lancaster (17603), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 23
- Average salary of people in this community: $41,417
Community Summary
- Population Density (ppl / mile): 2,128
- Household Size (ppl): 2.47
- Households w/ Children: 58%
Housing Inventory
- Owned: 14,354 (53.7%)
- Rented: 10,900 (40.8%)
- Vacant: 1,453 (5.4%)
- Total: 26,707
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 4.0%
- Some High School: 9.7%
- High School Graduate: 32.2%
- Some College: 16.2%
- Associate Degree: 7.8%
- Bachelor's Degree: 19.2%
- Graduate Degree: 10.8%
Income by dollar range
Median Income: $55,067
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $654
- One Bedroom: $765
- Two Bedroom: $1,039
- Three Bedroom: $1,177
- Four Bedroom: $1,282
© 2024 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-545-5356
Listing Courtesy of: RE/MAX Pinnacle , (717) 569-2222, remaxlancaster@comcast.net
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
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Listing data as of 4/30/2024.
