143-159 KING #MULTIPLE
143-159 KING #MULTIPLE Lancaster, Pennsylvania 17602 United States

$1,733,400
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Meedcor Realty

$1,733,400
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Commercial
Property type
1846
Year Built
PALA2025794
Web Id
PALA2025794
MLS ID
Lancaster
School District
Abraham Lincoln
Middle
McCaskey Campus
High
1
days ago

About 143-159 KING #MULTIPLE

The $1,733,400 Investment Package includes 13 units:-7 storefronts-3 office condos with 2 of the units combined for the use by one tenant. The other condo is currently vacant and could be converted to a residential unit.-3 walk-up apartments/condominium units at 159 East King StreetThe other units not included in the investment package in the building are sold or will be sold to unit owner occupantsIt is important to note that no AirBNB units are allowed in Historic East Side CondominiumsINVESTMENT PACKAGE SUMMARYThe Historic East Side Investment at 145-159 East King Street in Lancaster, is a mixed use investment including commercial and residential condominiums at Historic East Side Condominiums. The entire property includes a total of 27 units including storefronts, offices and 17 residential units. Of the 17 residential units, 14 are designed as for sale units and 3 units in 159 East King Street are designed as apartment rentals. Historic East Side Condominiums has several parking spaces in the lot directly behind the buildings and accessed from Grant Street. The lot has a shared ownership and a cost sharing agreement in place with the other lot owners. The spaces used by the various units at Historic East Side are owned by those units as Limited Common Elements.Historic East Side Suites is owned by a partnership of executives from Wohlsen Construction Company and John Meeder of Meeder Development. Historic East Side was redeveloped in 2011 and involved a near total rebuild of all of the structure inside of the historic brick walls. Even the facade of the 145 East King Street Building had to be removed from the building and then replaced brick by brick. The units have very little unit to unit sound transfer due to the design of the redevelopment and the quality of the construction. The retail storefronts and office uses at Historic East Side have frontage on King Street that offers excellent exposure to local foot and vehicular traffic. The residential units have their primary entrance behind the buildings and benefit from the quiet neighborhood feel of Grant Street. This investment offers a well managed and stable property with exceptional construction quality. The Historic East Side Condominium Association is responsible for the facility management. This allows the Investment Package Owners to focus on maintaining occupancy. If the new owner is looking for more fee income, the Association management is available at the beginning of 2023. Both the Historic East Side Investments and the Association are managed through Buildium Property Management System, a software that enables the payment of monthly fees and rents to be paid online.

Listing Courtesy of Meedcor Realty

The data relating to real estate for sale comes in part from Keystone Multi-List. Real estate listings held by brokerage firms other than Anne Lusk Sotheby's International Realty are marked with the Broker Reciprocity logo and information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. This IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

features

Style
Flat

PROPERTY INFORMATION

Cooling
Central A/C
Heating
90% Forced Air
Parking Description
Public, Private
Sewer
Public Sewer

EXTERIOR

Roofing
Flat, Rubber

INTERIOR

Flooring
Carpet, Engineered Wood

ADDITIONAL INFORMATION

Body of Water
Public
Number of Units
MULTIPLE
This Lancaster Commercial is for Sale at $1,733,400 and was built in 1846. Has .

 

Meedcor Realty

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