633 MANOR STREET

LANCASTER, PA17603

Fully leased 4-unit brick investment in Lancaster City — $53,280 in annual rents and an 8.8% cap rate at list price. Built in 1902 and full of classic city character, 633 Manor Street offers four 1-bedroom, 1-bath apartments with updated kitchens, modern flooring, and tall windows that fill each unit with natural light. The top-floor apartment stands out with sloped ceilings and dormer windows for a loft-style feel. With 100% occupancy and roughly $33,400 in NOI, this property delivers dependable cash flow from day one. The solid brick building features architectural shingle and rubber roofing, a stone foundation, natural gas radiator heat, and natural gas hot water, all on public water and sewer. A rear yard with an outbuilding provides useful storage. The location is a major draw: less than a mile from Penn Square, Lancaster Central Market, and downtown’s restaurants, shops, and galleries, with easy access to Routes 222 and 30. Lancaster City’s steady rental demand keeps units leasing quickly. At under $95K per door with a 7.1 GRM, this is a strong add for a seasoned investor or an ideal start for an owner-occupant looking to house-hack a 4-unit. Rent roll and expense summary available to qualified buyers.

Listing courtesy of Astoria Realty Advisors LLC



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.