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165 Lake Street, 
Lancaster, OH 43130

$225,900


Bed


Bath


-

Sq Ft


Multi-Family

Active

Listed by

Donald E Shaffer

Howard Hannarealestateservices

614-402-0338

Last updated:

January 5, 2026, 05:41 PM

MLS#

226000230

Source:

OH CBR

About This Home

165 Lake Street

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.

Home Facts

Multi-Family

Built in 1900

Price Summary

225,900

MLS #:

226000230

Last Updated:

January 5, 2026, 05:41 PM

Added:

10 day(s) ago


Structure

Structure

Year Built:

1900


Lot

Lot Size (Sq. Ft):

6,969


Finances & Disclosures

Finances

Price:

$225,900

Source:OH CBR
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Coldwell Banker Quest shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.