165 Lake Street, Lancaster, OH 43130 (MLS # 226000230)
Brought to you by RE/Max Consultant Group
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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.
| DAYS ON MARKET | 2 | LAST UPDATED | 1/5/2026 |
|---|---|---|---|
| TRACT | RAINEYS ADD | YEAR BUILT | 1900 |
| COUNTY | Fairfield | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| BASEMENT | Yes |
| CONSTRUCTION | Vinyl Siding |
| HEAT | Forced Air, Natural Gas |
| LOT | 6970 sq ft |
| SEWER | Public Sewer |
| SUBDIVISION | RAINEYS ADD |
| TAXES | 890 |
| UTILITIES | Natural Gas Available, Water Available, Sewer Available, Electricity Available |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Howard HannaRealEstateServices, Donald E Shaffer
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2026.