146 E Clay St, Lancaster, PA 17602

Property Description

Welcome to your next multi-family investment or house hack! This 4 unit building boasts 2,890 square feet and is in a prime location on the north side of Lancaster City. Units 1&2 are currently mid-term rentals, usually to traveling nurses or medical personnel looking for 1-6 month stays. The combination of updated condition and location close to LGH and only a short drive to Penn State Health makes these units desirable midterm rentals. Units 3&4 are long term rentals. 3 out of 4 units have been fully updated including vinyl plank flooring, kitchens and bathrooms. This is your opportunity to purchase a performing asset, current 11.3% cap rate! Monthly rental income averaged $5,667 in 2025 and $5,613 in 2026. The heating for each unit is separate and the electric is metered individually with a landlord meter for common areas. Here is the unit breakdown. Unit #1 is a one bed, one bath MTR at $1650 monthly rent. Unit #2 is a studio at $1650 monthly rent. Unit #3 is a 2 bed 1 bath LTR (with a spiral staircase!) at $1500 monthly rent. Unit #4 is a studio LTR at $955 monthly rent. The garage is rented at $150 monthly rent to a neighbor for storage. Their is a fenced-in backyard for the tenants to enjoy. Additional updates/maintenance include new hot water heaters for units 1&3, new heating element for unit 2, mini-splits for cooling in units 1&2, furnace serviced in December, 2025, brick was resealed May, 2025, new dryer November, 2025, repainted the siding red April, 2025, and quarterly pest control by Terminix. Whether you want to live in one unit and have the others cover your payment or purchase a performing rental asset, this is your opportunity. Schedule a showing today!