1. Pennsylvania
2. Lancaster
3. 772 MARIETTA AVE

772 MARIETTA AVE, Lancaster, PA 17603

• 1,844 sqft

Property 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 leased to a tenant for $1,350/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 6.3%. Gross Income $36,300 at the rents stated herein. Est. NOI $29,532. 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!

Listing Status:

Active

Listing Office:

PPM Real Estate, Inc. : 7173943374

Listing Agent:

Corinn E. Kirchner : 7173943374

MLS ID:

PALA2065742

Interior

• A/C: Central A/C
• Heating: CentralNatural GasElectric
• Disability Feature: None

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Corinn E. Kirchner, PPM Real Estate, Inc.