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Key Details
Sold Price $869,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,344 sqft
Price per Sqft $646
MLS Listing ID PALA2056674
Sold Date 11/15/24
Style Cape Cod,Ranch/Rambler
Abv Grd Liv Area 1,344
Originating Board BRIGHT
Year Built 1950
Annual Tax Amount $7,279
Tax Year 2022
Lot Size 0.920 Acres
Acres 0.92
Lot Dimensions 0.00 x 0.00
Property Description
GREAT CASH FLOW - EASY MANAGEMENT
525 Franklin Street is a nearly one-acre parcel in Columbia Pa with four separate homes and six total residential rental units. The entire property is maintained and leased by a non-profit whose mission is to serve youth who are transitioning from the various service agencies into independent living situations.
The largest home is a 1,350 sf cape cod with an attached carport. It has 3 bedrooms and 1 bath. Home number two is a 900-sf single family with 2 bedrooms and 1 bath. The 2 remaining buildings are nearly identical and have 2 efficiency apartments each. There is also a detached two car garage. The entire property has been inspected by the borough and has passed all lead paint tests. The current C/O is valid until 06/28/2025.
The lease is a 3-Year term starting March 1, 2023. It has annual escalations of 3% and starts at $84,000 annually. All buildings and apartments have separate utilities which are paid for by the tenant. In addition, the tenant is responsible for taxes, insurance, yard care and snow removal. The parcel is in the borough of Columbia and is served by public water and sewer. It is zoned Medium Density Residential, potentially allowing additional development opportunities.
Location
State PA
County Lancaster
Area Columbia Boro (10511)
Zoning MDR
Rooms
Basement Full
Interior
Hot Water Natural Gas, Electric
Cooling Window Unit(s)
Heat Source Electric, Natural Gas
Exterior
Exterior Feature Breezeway, Deck(s), Porch(es), Patio(s)
Garage Garage - Side Entry
Garage Spaces 2.0
Utilities Available Cable TV Available, Electric Available, Natural Gas Available, Phone Available, Water Available, Sewer Available
Waterfront N
Water Access N
View Creek/Stream
Roof Type Shingle
Street Surface Paved,Stone
Accessibility None
Porch Breezeway, Deck(s), Porch(es), Patio(s)
Total Parking Spaces 2
Garage Y
Building
Foundation Crawl Space
Sewer Public Sewer
Water Public
Architectural Style Cape Cod, Ranch/Rambler
Additional Building Above Grade, Below Grade
New Construction N
Schools
High Schools Columbia
School District Columbia Borough
Others
Tax ID 110-30472-0-0000
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Vanessa M Zimmerman • Keller Williams Elite