121 Laurel St, Lancaster, PA 17603

$350,000
1,876
SqFt

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List Price
$350,000
Days on Market
25
Status
ACTIVE
MLS#
PALA2090842
Living Area
1,876
Lot Size (Acres)
0.05
Style
Converted Dwelling
Year Built
1900
County
Lancaster
School District
School District Of Lancaster

Property Description

Exceptional mixed-use investment opportunity offering immediate income with additional upside potential. This well-maintained three-unit commercial property features a street-level commercial space, currently occupied by a single-chair salon, along with two residential apartments and two detached garages. The residential units include a spacious one-bedroom apartment currently leased for $900 per month and a vacant two- to three-bedroom apartment that was previously rented for $1,500 per month, providing an excellent opportunity for an owner-occupant or the ability to increase cash flow immediately. The commercial salon space is leased for $575 per month, creating a diversified income stream. The property has seen several important updates, including nearly all replacement windows and a Lead Safe Certification obtained through the city last year, offering added value and peace of mind. Both residential units include existing washer and dryer hookups that can easily be exposed again, providing a desirable amenity for future tenants. The owner currently pays water, sewer, trash, and common area electric. With two garages providing additional storage or rental potential, stable existing tenants, and a vacant unit ready for occupancy or lease, this property presents an excellent opportunity for investors seeking both current income and future growth.

Additional Information

Area
Lancaster City (10533)
Taxes
$4590
School District
School District Of Lancaster
Garage
Yes
Garage Spaces
2
Heating
Hot Water, Radiator
Heating Fuel
Natural Gas
Cooling
None
Roof
Rubber, Shingle, Metal
Water
Public
Sewer
Public Sewer

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Listing courtesy of Keller Williams Elite. Contact: 7175532500