534 West James Street

Lancaster, PA 17603

$1,650,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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...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.
  1. Listed by Gilbert B Lyons Jr • RE/MAX Pinnacle
    P: 7172959995 gil@gillyons.com

Property Details for 534 West James Street

Tax ID Number
339-60666-0-0000
Ownership
Fee Simple
Structure Type
Other
Style
Traditional
Waterfront
No
Garage
No
Subdivision
COLLEGE HILL
Subdivision
COLLEGE HILL (LANCASTER PA)

Location

Listing Courtesy of RE/MAX Pinnacle
Add your commute
LISTING UPDATED: 04/10/2024 09:19 AM

Property Details for 534 West James Street

StatusActive
MLS #PALA2049320
Days on Market24
Taxes$8,246 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1890
Lot Size0.06 AC / 2,614 SF
CountyLancaster County

Location

Listing Courtesy of RE/MAX Pinnacle
Add your commute

Building Information for 534 West James Street

Stories-Residences4Year Built1890Building Size-Lot Size0.06 AC / 2,614 SF

Payment Calculator

$9,692 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,005

Property Taxes

$687

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 534 West James Street

Location
Location
  • Transportation: Bus Stop less than 1 mile, Commuter Rail Station less than 1 mile
  • School District Name: SCHOOL DISTRICT OF LANCASTER
  • School District County ID: 300200397286
  • SchoolDistrictSource: Listing Agent
  • Elementary School: WHARTON (LANCASTER PA)
  • ElementarySchoolSource: Listing Agent
  • Middle Or Junior School: JOHN F REYNOLDS (LANCASTER PA)
  • MiddleSchoolSource: Listing Agent
  • High School: MCCASKEY CAMPUS (LANCASTER PA)
  • HighSchoolSource: Listing Agent
  • County: LANCASTER
  • MLS Area: Lancaster City (10533)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2022
  • Tax Assessed Value: $208,400
  • Year Assessed: 2023
  • County Tax: $606
  • Improvement Assessed Value: $181,600
  • City Town Tax: $2,634
  • Land Assessed Value: $26,800
  • Clean Green Assessed: No
  • Land Use Code: 513
  • Zoning: R-4
  • Zoning Dscrp: High Density Residential
  • School Tax: $5,005
  • School Tax Payment Frequency: Annually
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Common Area Maintenance, Gas, Insurance, Management, Pest Control, Repairs, Sewer, Snow Removal, Taxes - Real Estate, Trash Collection, Water, Advertising/Licenses and Permits
Unit Information
Unit Information
  • Single Room Units Count: 2
  • One Bedroom Units Count: 5
  • Two Bedroom Units Count: 4
  • Three Bedroom Units Count: 0
  • Units Furnished: None
  • Units Leased Count: 11
  • Number Of Units Vacant: 11
  • Vacancy Allowance Rate: 2.00%
  • Rent Control: No
Financial Information
Expenses
  • Operating Expense Includes: Insurance, Snow Removal, Trash
Financial Information
  • Net Operating Income: $115,124
  • Annual Rental Income: $151,200
  • Income Includes: Apartment Rentals
  • Cap Rate: 7.00
  • Existing Lease Type: None
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: .00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 0.00 x 0.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 4072589
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Interior Features: Additional Stairway
  • Fireplace: No
Exterior Features
Exterior Features
  • Exterior Features: Fire Escape, Sidewalks, Street Lights
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Utilities: Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
  • Heating: Yes
  • Cooling Type: Window Unit(s), Multi Units
  • Cooling Fuel: Electric
  • Heating Type: Baseboard - Electric
  • Heating Fuel: Electric
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
  • Electric Service: 200+ Amp Service, Circuit Breakers
  • Internet Services: Cable, Broadband, Fiber Optic
Confidential Data
Listing Office
  • List Agent AOR: Lancaster County Association of REALTORS
  • List Agent URL: GilLyons.com

Property History for 534 West James Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 534 West James Street

Taxable ValueLand$26,800Additions$181,600Total$208,400
Tax Record2024$8,246 ($687 / month)
Home Facts
Total Finished SqFt5,879 SqFtAbove Grade Finished SqFt5,879 SqFtStories3Lot Size2,614 SqFtStyleMulti-Family Dwelling (2-4)Year Built1890ZoningR4CountyLANCASTERAPN339-60666-0-0000

Schools near 534 West James Street

This home is within Lancaster School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Thomas Wharton El School
PublicPK to 5

Reynolds Middle School
Public6 to 8

Mccaskey Campus
Public9 to 12

Phoenix Academy
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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534 West James Street is a multi-family home for sale in Lancaster, PA 17603. This property was listed for sale on April 9, 2024 by RE/MAX Pinnacle, it's currently listed at $1,650,000. This listing's school district is Lancaster School District. Nearby schools include Thomas Wharton El School, Reynolds Middle School and Mccaskey Campus. 534 West James Street is a 0-bed, 0-bath, multi-family home built in 1890.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Pinnacle

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.