Lancaster, PA 17603 322 W James Street

322 W James Street Lancaster, PA - Image 1
Presented By: RE/MAX Pinnacle
  • MLS# PALA2069126
  • 05/01/2025
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  • Beds • 5
  • Garage • 1

Home Details

Turnkey 3-Unit Investment Property in Prime Location Welcome to 322 W. James Street, a beautifully renovated three-unit investment property ideally located in the heart of Lancaster City. Built in 1900 and thoughtfully updated from basement to roof, this exceptional property offers the perfect blend of historic charm and modern conveniencemaking it an outstanding opportunity for investors or owner-occupants seeking rental income. This well-maintained property features two spacious 1-bedroom apartments and one 2-bedroom apartment, offering strong rental appeal and excellent tenant retention. Each unit has been upgraded with modern kitchens and baths, gleaming wood floors, and attractive finishes that retain the character of the original structure. Updated Systems & Smart Investment Design One of the most valuable features of this property is the separated electric and gas utilitiesa major convenience for both landlords and tenants. Each unit operates independently for efficiency and ease of management. The spacious basement provides ample storage space for tenants, along with a coin-operated washer and dryer, creating an added source of income and convenience. These thoughtful upgrades demonstrate a clear attention to detail and an understanding of long-term investment strategies. Added Bonus: Oversized Garage & Private Rear Yard Unlike many multi-unit city properties, 322 W. James Street includes an oversized garageperfect for parking, storage, or potential additional rental income. The private rear yard offers green space for tenants to enjoy and adds to the overall appeal of the property. Ideal Walkable Location Located in a highly desirable neighborhood, this property is just a short walk to Franklin & Marshall College, Lancaster General Hospital, and beloved local favorites like LUCA Restaurant, The Fridge, Mean Cup, and the Lancaster Barnstormers ballpark. The area is also home to numerous boutiques, coffee shops, galleries, and brew pubsmaking this a highly rentable location for professionals, students, and city dwellers alike. With easy access to major roads, public transportation, and vibrant downtown Lancaster, this property offers everything savvy investors look for: location, updates, income potential, and long-term growth. Dont miss this rare opportunity to own a fully renovated, income-generating 3-unit property in one of Lancasters most sought-after neighborhoods. Whether youre building your portfolio or looking for a live-in investment, 322 W. James Street is a property you wont want to miss. Schedule your private showing today!
Presented By: RE/MAX Pinnacle

Interior Features for 322 W James Street

Bedrooms

Three Bedroom Units Count1

Other Interior Features

LivingAreaSourceAssessor
Central Air Y/NNo
Fireplace Y/NNo
Furnished UnitsNone
Heating FuelElectric
Heating Y/NYes
Hot WaterNatural Gas, Multi-tank
Window FeaturesInsulated

General for 322 W James Street

Acceptable FinancingCash, Conventional
AccessibilityNone
Architectural StyleColonial
Cap Rate6.90
CityLANCASTER
Construction MaterialsBrick, Masonry
Cool FuelNone
CoolingNone
CountyLANCASTER
DirectionsW.James Street between N. Concord and N. Mulberry St.
DisclosuresOff-site Required, Prop Disclosure, Lead Inspection Certificate Available, Use and Occupancy Permit
ElectricCircuit Breakers
Exclusionstenants belongings
Garage Spaces1.00
Garage Y/NYes
Gross Income51471.00
HeatingBaseboard - Electric, Heat Pump - Electric BackUp
Home Warranty Y/NNo
Lease TypeYearly
Lot Size Square Feet2178.00
Lot Size UnitsSquare Feet
MLS AreaLancaster City (10533)
ModificationTimestamp2025-05-01T21:19:38
MunicipalityLANCASTER CITY
Net Operating Income36007.00
New ConstructionNo
Number Of Units Total3
Number of Units Leased3
NumberOfUnitsVacant
One Bedroom Units Count2
Other StructuresAbove Grade, Below Grade
OwnerPaysInsurance, Pest Control, Sewer, Water, Trash Collection, Taxes - Real Estate, Gas, Electricity
OwnershipFee Simple
PossessionNegotiable, Settlement, Immediate, 0-30 Days CD, 31-60 Days CD
Price Per Sq Ft Total AG198.71
Property SubtypeTriplex
Property TypeMulti-Family
Rent Control Y/NNo
School DistrictSCHOOL DISTRICT OF LANCASTER
Security FeaturesSmoke Detector, Main Entrance Lock
SewerPublic Sewer
Single Room Units Count0
Standard StatusActive
StatusACTIVE
Structure TypeInterior Row/Townhouse
Subdivision NameCHESTNUT HILL
Tax Annual Amount7668.0
Tax Assessed Value193800.0
Tax Year2024
Total Actual Rent54180.00
Total SQFT2642
TransportationAirport less than 10 miles, Bus Stop less than 1 mile, Commuter Rail Station less than 1 mile
Two Bedroom0
UtilitiesCable TV Available, Electric Available, Natural Gas Available, Phone, Sewer Available, Water Available
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1900
Year Built SourceAssessor
ZoningR-3

Exterior for 322 W James Street

# of Detached Garage Spaces1
Foundation DetailsPillar/Post/Pier, Stone
Garage FeaturesGarage - Rear Entry, Oversized, Inside Access, Additional Storage Area
Inclusionsapartment appliances, coin-operated washer and dryer
Land Assessed Value33200.00
Land Use Code115
Lot Dimensions0.00 x 0.00
Lot FeaturesRear Yard
Lot Size Acres0.05
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Total Parking Spaces1
Type of ParkingOff Street, Detached Garage
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Schools

High School Mccaskey Campus High School
Middle School John F Reynolds Middle School
Elementary School Wharton Elementary School

Rachel Shepherd

Price $525,000
MLS#PALA2069126
List Date 05/01/2025
Property Type Multi-Family
Phone 703.929.4729
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