1. Pennsylvania
2. Lancaster
3. 772 MARIETTA AVENUE

772 MARIETTA AVENUE, 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 available and could be an owner occupied unit, Owner's Lancaster pad, or you have the opportunity to choose your tenant. The unit is a beautiful 1 bed, 1 bath apartment and has historically rented quickly for $1,395/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 6.4%. Gross Income $36,840 at the rents stated herein. Est. NOI $30,072. 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: YCentralNatural GasElectric
• Disability Feature: None

Exterior

Construction

Location

Lot

Utilities

Financial

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