The Ramsey Rhoads Group
Berkshire Hathaway HomeServices Homesale Realty
[email protected] +1(717) 400-1045126 N MULBERRY ST Lancaster, PA 17603
871 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PALA2097166
Year Built 1890
Annual Tax Amount $5,795
Tax Year 2026
Lot Size 871 Sqft
Acres 0.02
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Looking for a multifamily with real upside in one of the most in-demand rental markets. 126 N Mulberry Street offers five 1-bedroom units in a location renters actively seek out, with current rents totaling just $2,900 per month ($34,800 annually). That's an average of $580 per unit, well below what 1-bedrooms command downtown today.
Location is the story. Tucked into the historic northwest quadrant of downtown, this property puts tenants just a short walk from everything that makes Lancaster City such a desirable place to live. Central Market, Penn Square, the Prince Street Gallery Row, the Fulton Theatre, and a long list of restaurants, coffee shops, and breweries are all close by. Franklin & Marshall College and the Lancaster Amtrak station are an easy trip, making this a natural fit for young professionals, grad students, healthcare workers, and commuters heading to Philly or Harrisburg.
Built for the value-add investor. The building itself is solid and has been well cared for, so the heavy lifting is already done. The units are ready for updating, which is exactly where the opportunity lies. Refresh the interiors as leases turn and bring rents up to market, and you'll see what this property can really do. The 1-bedroom unit mix is one of the easiest to keep filled in the city, giving you steady demand while you reposition.
Whether you're growing your portfolio or picking up your first small multifamily, downtown buildings with this kind of upside don't come along often. Rent roll available upon request. Call today to schedule your showing. 24 hour notice required.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning RESIDENTIAL
Interior
Hot Water Oil
Heating Hot Water
Cooling None
Inclusions all appliances are landlords
Heat Source Oil
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 335-35421-0-0000
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS