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Jessica Evans

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$ 495,000

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772 MARIETTA AVE Lancaster, PA 17603

1,844 SqFt

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Key Details

Property Type Multi-Family, Townhouse

Sub Type End of Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 1,844 sqft

Price per Sqft $268

MLS Listing ID PALA2065742

Style Other

Abv Grd Liv Area 1,844

Originating Board BRIGHT

Year Built 1875

Annual Tax Amount $6,137

Tax Year 2024

Lot Size 1,742 Sqft

Acres 0.04

Lot Dimensions 0.00 x 0.00

Property Sub-Type End of Row/Townhouse

Property Description

Stunningly gorgeous 2 unit property located next to the cafe and ice cream shop called *College Treats* in desirable Chestnut Hill neighborhood! This property was renovated top to bottom in 2020 and as a result is in a LERTA tax savings program through 2029! The first floor apartment is available and could be an owner occupied unit, Owner's Lancaster pad, or you have the opportunity to choose your tenant. The unit is a beautiful 1 bed, 1 bath apartment and has historically rented quickly for $1,395/month (gas heat and central air; gas and electric paid by Tenant). Apt #2 is the 2nd and 3rd floors of the property and is a 2 bed, 2 bath apartment on a new one year lease for $1,675/month (mini split systems for heat + cooling; Tenant pays electric). Both apartments offer high end finishes including granite counters, wood floors, exposed brick walls, drywall ceilings with recessed lighting, central air, dishwasher, built-in microwave, all vinyl windows & more! There is shared laundry and a shared yard. Easy, non-metered street parking readily available on Marietta, College Ave & Chestnut Streets. All mechanicals, roof, appliances and finishes are only 5 years old. Landlord pays water/sewer, trash, house electric. LERTA Tax savings: 2025: 50% discount on tax bill. Each year the discount decreases by 10% through 2029. CURRENT CAP RATE 6%. Gross Income $36,840 at the rents stated herein. Est. NOI $30,072. Income/Expense Proforma with LERTA tax savings details available. Note: The new one year lease on apartment 2 is the tenant who was in apartment one. Tenant took the larger apartment when it became available - this is a testament to the excellent location, conditions, marketability and livability of this property!

Location

State PA

County Lancaster

Area Lancaster City (10533)

Zoning R4; HIGH DENSITY

Interior

Hot Water Electric

Heating Central

Cooling Central A/C

Fireplace N

Heat Source Natural Gas, Electric

Exterior

Water Access N

View City

Accessibility None

Garage N

Building

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District School District Of Lancaster

Others

Tax ID 335-71547-0-0000

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Listed by Corinn E. Kirchner • PPM Real Estate, Inc.

Jessica Evans

+1(301) 832-5105

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Jessica Evans

772 MARIETTA AVE Lancaster, PA 17603

Key Details

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Interior

Exterior

Building

Schools

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772 MARIETTA AVE