Patterson-Schwartz Real Estate772 Marietta Avenue, Lancaster, PA 17603-3438 $495,000
Interior Sq. Ft: 1,844
Acreage: 0.04
Age:150 years
Taxes: $6,137
Design/Type:
End of Row/Townhouse
Description
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 available and could be an owner occupied unit, Owner's Lancaster pad, or you have the opportunity to choose your tenant. The unit is a beautiful 1 bed, 1 bath apartment and has historically rented quickly for $1,395/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%. Gross Income $36,840 at the rents stated herein. Est. NOI $30,072. 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!
Home Assoc: No
Condo Assoc: No
Basement:
Pool: No Pool
Features
Utilities
Central Heating, Electric, Natural Gas, Central A/C, Electric, Hot Water - Electric, Public Water, Public Sewer
Garage/Parking
On Street
Exterior
Brick/Mortar Foundation, Brick Exterior, Masonry
Lot
Urban, City View
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-429-7348
Listing Courtesy of: PPM Real Estate, Inc. , (717) 394-3374, corinn@ppmproperties.com
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Listing data as of 4/11/2025.
