165 Lake Street, Lancaster, OH 43130

Property Description

Attention: Property will be available for showings Sat Feb 28 and Sun Mar 1 from 1-3 pm! 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. Attention Agents: Please see ATA and the attached offer instructions document for further details