SQUARE FEET1,904
MLS#PALA2092474
STATUSACTIVE
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONCHESTNUT HILL
SCHOOLSCHOOL DISTRICT OF LANCASTER
Property Description
Income-producing triplex in Lancaster City's desirable Chestnut Hill neighborhood, offering immediate value-add potential. With all units currently vacant, investors have the rare opportunity to lease at current market rents without waiting for tenant turnover, while owner-occupants can live in one unit and generate income from the remaining two. The property features three residential units, separate electric meters, and separate water meters, providing flexibility for utility management and tenant billing. The vacant status allows a new owner to renovate as desired, reposition the asset, and maximize rental income from day one. Conveniently located just minutes from Downtown Lancaster, Penn Square, Franklin & Marshall College, restaurants, shopping, public transportation, and major commuter routes, the property is well positioned in an area with strong and consistent rental demand. Whether you're expanding your investment portfolio, completing a value-add renovation, or looking for a house-hack opportunity, 516 W. Walnut Street offers the location, layout, and upside to create long-term value.
Property Features
Property Type: Multi Unit - Multiple
Basement: Outside Entrance, Sump Pump, Unfinished
Basement: Yes
Cooling: Ceiling Fan(s), Window Unit(s)
Fuel Type: Electric
Heating: Radiator, Baseboard - Electric
Home Style: Traditional
Lot Size: 0.08 Acres
Roof Type: Composite, Shingle
Taxes: $9,520
Year Built: 1900
Feature Descriptions
Accessibility: 2+ Access Exits
Additional Structures: Above Grade, Below Grade
Appliances: Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
Electric: 200+ Amp Service
Exterior: Frame, Metal Siding
Exterior: Fire Escape
Flooring: Carpet, Ceramic Tile, Hardwood, Laminate Plank
Interior: Attic, Cedar Closet(s), Combination Dining/Living, Floor Plan - Traditional, Wood Floors
Location: Downtown
Lot Dimensions: 0.08 Acre(S)
Municipality: LANCASTER CITY
Number of Rooms: 13
Parking Notes: Public, Free
Sewer: Public Sewer
Special View Info: City, Street
Structure Type: Detached
Three Bedroom Units: 1
Two Bedroom Units: 2
Units: 3
Utilities: Electric Available, Phone Available, Cable TV Available, Water Available
Water: Public
Local Schools
School District: SCHOOL DISTRICT OF LANCASTER
Listed By / Shown By
Listed By
Agency Name: Berkshire Hathaway HomeServices Homesale Realty
Shown By
Agent Name: Beverly Herbert
Agent Phone: Cell: (410) 808-8758
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Estimated Payment
$ 1,799.97 per month $890.00 Principal & Interest $793.33 Property Tax $116.64 Homeowner's Insurance
Corporate Office - 215 S Centerville Rd. Lancaster, PA 17603
516 W Walnut Street | MLS# PALA2092474
This multi-family property located at 516 W Walnut Street, Lancaster, PA 17603 is currently listed for sale by Berkshire Hathaway HomeServices Homesale Realty, with an asking price of $399,900. W Walnut Street is located within the SCHOOL DISTRICT OF LANCASTER school district. Search Lancaster real estate on bevherbert.homesale.com today.