342 346 W King Street
Lancaster, PA 17603
- – beds
- – baths
- 5,408 sqft
- 3,049 sqft lot
- $92 per sqft
- 1925 build
Investor Alert - Lancaster City Cash Cow! Fully rented large detached 4 unit apartment building just three blocks from the downtown Lancaster City square! Building consists of two duplexes (separate tax IDs), totaling a whopping 5,408 square feet. The two duplexes have a combined basement, currently operating as a quadruplex with 4 large apartments. One duplex consists of a 4 bedroom, 1 bath apartment and a 1 bedroom, 1 bath apartment. The other duplex is a 3 bedroom, 1 bath apartment and a 3 bedroom, 1.5 bath apartment (with potential to split one of these huge apartments in half to make a 5th unit!). The two second floor units have been recently updated throughout, potential to continue upgrading first floor units and increase cash flow! Each apartment has two private entry doors, second floor units have a walk-up entry door AND a private street-level entrance (second-floor units can also enter through rear of building off of Strawberry St.) More to love: Custom craftsman features, hardwood floors, upgraded luxury vinyl tile and luxury vinyl plank flooring, high ceilings and tons of natural light give these apartments classic charm with durability in mind. Each apartment has a landlord-owned fridge and stove. Tenants are responsible for electric, heat (electric) & gas, Landlord pays trash, water & sewer. Located in an area experiencing large-scale investment and redevelopment, this freshly painted and well-maintained investment will become a top-producer in your portfolio for years to come! New rubber roof - 342 W King St. - 2022, new mansard roof - 342 W King St. - 2022, new rubber roof - 346 W King St. - Corner Unit (blue building) - 2024. Long term tenants and stable cash flow history with professional property manager in place. Mark your calendar! - Two upcoming showing options: Wednesday, April 2nd from 4pm-6pm and Saturday, April 5th from 1pm - 3pm. Showings will be open-house style, please call to register. Separate, private showings cannot be accommodated at this time. Please plan to come to one of the above-mentioned group showing times.
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Last updated May 6, 2025
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MLS# PALA2066358 —
The Building
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Year Built:1925
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Year Built Source:Assessor
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Roof:Architectural Shingle, Asphalt, Flat, Pitched, Rubber, Shingle
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New Construction:No
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Construction Materials:Masonry
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Building Units Total:4
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Structure Type:Detached
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Architectural Style:Traditional
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Door Features:Six Panel
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Security Features:Main Entrance Lock, Smoke Detector
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Window Features:Bay/Bow, Double Hung, Replacement, Sliding, Transom, Vinyl Clad, Wood Frame
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Accessibility Features:None
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Foundation Details:Crawl Space, Permanent
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Basement:Yes
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Basement Type:Partial, Outside Entrance, Interior Access, Unfinished
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Building Winterized:No
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Total SqFt Source:Estimated
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Total Below Grade SqFt:936
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Total Below Grade SqFt Source:Estimated
Interior
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Interior Features:Additional Stairway, Bathroom - Stall Shower, Bathroom - Tub Shower, Built-Ins, Dining Area, Entry Level Bedroom, Floor Plan - Open, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Table Space, Upgraded Countertops
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Flooring Type:Hardwood, Luxury Vinyl Plank, Luxury Vinyl Tile, Solid Hardwood, Vinyl
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Fireplace:No
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Wall & Ceilings:High, Plaster Walls
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Living Area SqFt Source:Estimated
Room Dimensions
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Total SqFt:6384
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Living Area SqFt:5,408 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Conventional, Bank Portfolio
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Possession:Settlement, Subject to Existing Lease
Location
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Directions:From N Duke St., Turn right onto E Walnut St., Turn left onto N Charlotte St., Turn left onto W King St., Destination will be on the right.
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Cross Street:W Strawberry St.
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Latitude:40.03708267
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Longitude:-76.31204224
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Location Type:Downtown
The Property
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Property Type:Multi-Family
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Property Subtype:Quadruplex
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Property Condition:Very Good
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Lot Size Units:Square Feet
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Lot Size Acres:0.07
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Lot Size Source:Estimated
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Lot Features:Corner
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Lot SqFt:3,049 Sqft
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Inclusions:Landlord owned appliances
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Exclusions:Tenant owned appliances and personal property
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Zoning Description:R4 - Residential High Density
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Zoning:R4
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View:City, Street
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Outdoor Living Structures:Porch(es), Deck(s)
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Other Structures:Above Grade, Below Grade
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Waterview:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Land Use Code:575
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Ground Rent Exists:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (610) 413-6887
- Office phone:
- (717) 621-2672
Taxes
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Tax ID Number:338-12145-0-0000, 338-09448-0-0000
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Tax Year:2023
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Tax Annual Amount:$7,993.06
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Tax Assessed Value:$202,000
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Year Assessed:2025
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School Tax:4851.76
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County Tax:588.02
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City/Town Tax:2553.28
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Total Taxes Payment Frequency:Annually
Heating & Cooling
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Cooling Type:None
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Central Air:No
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Cooling Fuel:None
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Heating:Yes
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Heating Type:Baseboard - Electric
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Heating Fuel:Electric
Utilities
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Utilities:Cable TV Available, Electric Available, Natural Gas Available, Phone Available, Sewer Available
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Sewer/Septic:Public Sewer
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Electric Service:100 Amp Service
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Hot Water:Electric, Natural Gas
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Water Source:Public
Appliances
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Appliances:Oven - Single, Refrigerator, Water Heater
Schools
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School District Name:School District Of Lancaster
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School District Source:Listing Agent
The Community
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Subdivision Name:Downtown Lancaster
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Exterior Features:Awning(s), Bump-outs, Exterior Lighting, Sidewalks, Street Lights
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Pool:No Pool
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Spa:No
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Association Recreation Fee:No
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Municipal Trash:Yes
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Transportation:Bus Stop less than 1 mile, Commuter Lots less than 5 miles, Commuter Rail Station 1 to 5 miles
Parking
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Garage:No
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Type of Parking:On Street
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Parking Features:Public, Unassigned
Extra Units
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Other Units:Unit 1,Unit 2,Unit 4,Unit 3
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Vacation Rental:No
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One Bedroom Units:1
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Three Bedroom Units:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/9/25
Apr 9, 2025
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Pending | BRIGHT | $499,900 | |
4/1/25
Apr 1, 2025
|
Listed / Active | BRIGHT | $499,900 |