210 Ruby Street, LANCASTER, PA 17603 (MLS # PALA2084112)

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PRICE $372,000 BEDS 1 BATHS 0 HOME SIZE 2,042 sqft LOT SIZE 2,178 sqft Request More Info Schedule a Showing

Exceptional Investment Opportunity! Updated Two-Unit Property in Lancaster City's Coveted West End! Unlock immediate income potential with this **fully updated and meticulously maintained** multi-family property, perfectly situated in the highly sought-after West End neighborhood of Lancaster City. excellent walkability, and proximity to downtown amenities, this location ensures high tenant demand! This property has been completely refreshed, offering **turn-key readiness** for investors or owner-occupants looking for substantial rental income. Every unit has received significant updates, ensuring low initial maintenance. * **Unit 1 (First Floor):** A comfortable **1 Bedroom Apartment** featuring an eat-in kitchen, separate living area, and a fully updated bathroom. Rented at $1,350 Parking included. Unit 2 (Second Floor): A spacious **4 Bedroom Apartment** complete with a full updated bathroom, eat-in kitchen, and dedicated living area. rented at $2,400 Two Generous Bedrooms located on the top level, likely utilizing space on both floors for a unique layout. 2 off street parking, tenants pays additional for parking spaces in the back of the home, extra income generation! Complete Updates: All living spaces have been significantly upgraded, including, newly renovated bathrooms, updated kitchens, fresh flooring, new paint, and modern light fixtures. Income Generating: This property is truly ready and delivering immediate cash flow. Investment Appeal: The desirable West End location guarantees strong rental interest and high potential rental rates. Total Rental Income Unit 1: $1,300 / month Unit 2: $2,400 / month Total monthly rent: 1350 + 2400 = 3750 Annual rent: 3750 × 12 = 45,000 Total yearly rental income = $45,000 Operating Expenses Monthly expenses: $50 monthly trash/sewer 50 × 12 = 600 yearly: $1,400 (heat winter months 150$ 3 months 30$ to 40$ summer/spring/fall) Total expenses: 600 + 1,400 = 2,000 Net Operating Income (NOI) 45,000 - 2,000 = 43,000 NOI = $43,000 (mortgage is not included) mortgage: $1,800 monthly Cap Rate Property Value Cap Rate = 12%-12.5% This is a rare chance to acquire a fully renovated multi-family asset in one of Lancaster's premier residential areas. Minimize your turnover risk and maximize your returns with move-in-ready units! Don't miss the chance to own a prime, income-producing asset in Lancaster's best neighborhood!