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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 leased to a tenant for $1,350/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 6.3%. Gross Income $36,300 at the rents stated herein. Est. NOI $29,532. 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!
| DAYS ON MARKET | 253 | LAST UPDATED | 6/12/2025 |
|---|---|---|---|
| YEAR BUILT | 1875 | COMMUNITY | Lancaster City (10533) |
| COUNTY | LANCASTER | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| School District | SCHOOL DISTRICT OF LANCASTER |
|---|
| PRICE HISTORY | |
| Prior to Jun 12, '25 | $495,000 |
|---|---|
| Jun 12, '25 - Today | $469,999 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Lancaster City (10533) |
| CONSTRUCTION | Brick |
| HEAT | Central, Electric, Natural Gas |
| LOT | 1742 sq ft |
| LOT DIMENSIONS | 0.00 x 0.00 |
| PARKING | On Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | Other |
| TAXES | 6137 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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