CHARIS REALTY GROUP

Traditional

516 W WALNUT STREET

LANCASTER, PA 17603

MLS#: PALA2092474

$399,900

Status: Active
Listing number: PALA2092474
Listing provided by: Berkshire Hathaway HomeServices Homesale Realty
Listing agent phone: None
Last update: 3 days ago
New on site 3 days ago
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CHESTNUT HILL - Residential Income

Property

Beds

7

Full Baths

None

1/2 Baths

None

Year Built

1900

Sq.Footage

1,904

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.

Features & Amenities

Interior

  • Other Interior Features

    Cedar Closet(s)

  • Total Bedrooms

    7

  • Bathrooms

    N/A

  • Above Grade Finished Area

    1904.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s), Window Unit(s), Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Exhaust Fan, Electric, Baseboard, Radiant

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Frame, Metal Siding

  • Parking

    On Street

  • Patio and Porch Features

    Porch

  • Pool

    No

  • Waterfront YN

    NO

  • View

    City, Street

Area & Lot

  • Lot Size(acres)

    0.08

  • Lot Size(square feet)

    3,485

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

  • Architectural Style

    Traditional

Price

  • Sales Price

    $399,900

  • Tax Amount

    $9,520

  • Financing Options

    Cash, Conventional, FHA 203(k), FHA

  • Zoning

    R3 - medium-density residential neighborhoods characterized by attached homes, multifamily dwellings, and smaller lots.

  • Sq. Footage

    1,904

  • Price/SqFt

    $210

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    3

  • New Construction

    NO

  • Foundation Details

    Stone, Concrete Perimeter

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

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LANCASTER

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Listing Courtesy of Timothy K Shreiner , Berkshire Hathaway HomeServices Homesale Realty

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Agent Elisesha Yingling

AGENT

Elisesha Yingling

Call Elisesha today to schedule a private showing.

(814) 505-6916

elisesha@charisrealty.com


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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.

516 W WALNUT STREET

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