37
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$225,900
Est. payment /mo
6,969 Sqft Lot
Active
165 Lake Street Lancaster, OH 43130
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Raineys Add
MLS Listing ID 226000230
Year Built 1900
Annual Tax Amount $890
Lot Size 6,969 Sqft
Lot Dimensions 0.16
Property Sub-Type Duplex
Source Columbus and Central Ohio Regional MLS
Property Description
Premier Investment Opportunity: Income-Producing Duplex
Unlock the potential of this versatile 1,523 sq. ft. duplex in a high-demand Lancaster location! Whether you are looking for a reliable addition to your portfolio or an 'owner-occupant' opportunity to live in one side and let the other pay your mortgage, this property delivers.
This well-maintained two-unit building features a spacious layout designed for long-term tenant comfort:
Unit 1 (First Floor): A generous 3-bedroom, 1-bathroom residence.
Unit 2 (Second Floor): A cozy 1-bedroom, 1-bathroom unit.
Amenities: Both units feature large living areas, kitchens equipped with refrigerators and stoves, and dedicated laundry hookups (tenant-owned washers/dryers).
Utilities: Units are individually metered, and tenants pay all utilities.
Financial Highlights
Strong Cash Flow: Currently generating $1,795 per month in total rent.
Tenant Mix: One unit is self-pay and the other is Section 8; both are currently on month-to-month leases.
Growth Potential: Rents are currently below market value, offering immediate upside for the next owner.
Seamless Transfer: All deposits will be credited to the buyer at closing.
Exterior & Location
Situated on an oversized lot with convenient alley access, the property offers rare flexibility. There is ample space to build a garage or additional outbuildings to further increase value.
The location is unbeatable for tenants, sitting within easy walking distance of Mt. Pleasant Elementary, Rising Park, and the Fairfield County Fairgrounds. It is also just minutes from the shops, dining, and culture of Historic Downtown Lancaster.
Showing Instructions
Please do not disturb the tenants. All offers are to be curb offers only. The property will be made available for interior viewing once in contract for inspection purposes.
Attention Agents: Please see ATA and the attached offer instructions document for further details.
Unlock the potential of this versatile 1,523 sq. ft. duplex in a high-demand Lancaster location! Whether you are looking for a reliable addition to your portfolio or an 'owner-occupant' opportunity to live in one side and let the other pay your mortgage, this property delivers.
This well-maintained two-unit building features a spacious layout designed for long-term tenant comfort:
Unit 1 (First Floor): A generous 3-bedroom, 1-bathroom residence.
Unit 2 (Second Floor): A cozy 1-bedroom, 1-bathroom unit.
Amenities: Both units feature large living areas, kitchens equipped with refrigerators and stoves, and dedicated laundry hookups (tenant-owned washers/dryers).
Utilities: Units are individually metered, and tenants pay all utilities.
Financial Highlights
Strong Cash Flow: Currently generating $1,795 per month in total rent.
Tenant Mix: One unit is self-pay and the other is Section 8; both are currently on month-to-month leases.
Growth Potential: Rents are currently below market value, offering immediate upside for the next owner.
Seamless Transfer: All deposits will be credited to the buyer at closing.
Exterior & Location
Situated on an oversized lot with convenient alley access, the property offers rare flexibility. There is ample space to build a garage or additional outbuildings to further increase value.
The location is unbeatable for tenants, sitting within easy walking distance of Mt. Pleasant Elementary, Rising Park, and the Fairfield County Fairgrounds. It is also just minutes from the shops, dining, and culture of Historic Downtown Lancaster.
Showing Instructions
Please do not disturb the tenants. All offers are to be curb offers only. The property will be made available for interior viewing once in contract for inspection purposes.
Attention Agents: Please see ATA and the attached offer instructions document for further details.
Location
State OH
County Fairfield
Community Raineys Add
Area 0.16
Rooms
Other Rooms None
Dining Room No
Interior
Heating Forced Air
Cooling Central Air
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Lancaster Csd 2305 Fai Co.
School District Lancaster Csd 2305 Fai Co.
Others
Tax ID 05-32095-400
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Donald E Shaffer Howard HannaRealEstateServices
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