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5-Unit Value-Add Opportunity in the Heart of Lancaster City Looking for a multifamily with real upside in one of the most in-demand rental markets. 126 N Mulberry Street offers five 1-bedroom units in a location renters actively seek out, with current rents totaling just $2,900 per month ($34,800 annually). That's an average of $580 per unit, well below what 1-bedrooms command downtown today. Location is the story. Tucked into the historic northwest quadrant of downtown, this property puts tenants just a short walk from everything that makes Lancaster City such a desirable place to live. Central Market, Penn Square, the Prince Street Gallery Row, the Fulton Theatre, and a long list of restaurants, coffee shops, and breweries are all close by. Franklin & Marshall College and the Lancaster Amtrak station are an easy trip, making this a natural fit for young professionals, grad students, healthcare workers, and commuters heading to Philly or Harrisburg. Built for the value-add investor. The building itself is solid and has been well cared for, so the heavy lifting is already done. The units are ready for updating, which is exactly where the opportunity lies. Refresh the interiors as leases turn and bring rents up to market, and you'll see what this property can really do. The 1-bedroom unit mix is one of the easiest to keep filled in the city, giving you steady demand while you reposition. Whether you're growing your portfolio or picking up your first small multifamily, downtown buildings with this kind of upside don't come along often. Rent roll available upon request. Call today to schedule your showing. 24 hour notice required.
| DAYS ON MARKET | 1 | LAST UPDATED | 10/20/2026 |
|---|---|---|---|
| YEAR BUILT | 1890 | COMMUNITY | Lancaster City (10533) |
| COUNTY | LANCASTER | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | SCHOOL DISTRICT OF LANCASTER |
|---|
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Lancaster City (10533) |
| CONSTRUCTION | Brick |
| HEAT | Hot Water, Oil |
| LOT | 871 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 5795 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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