Bought with William Catesby Gilbert • Mountain Realty ERA Powered
$365,000
$375,000
2.7%For more information regarding the value of a property, please contact us for a free consultation.
516 W WALNUT ST Lancaster, PA 17603
1,904 SqFt
Key Details
Sold Price $365,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,904 sqft
Price per Sqft $191
Subdivision Chestnut Hill
MLS Listing ID PALA2092474
Sold Date 09/30/26
Style Traditional
Abv Grd Liv Area 1,904
Year Built 1900
Available Date 2026-08-06
Annual Tax Amount $9,520
Tax Year 2025
Lot Size 3,485 Sqft
Acres 0.08
Lot Dimensions 0.00 x 0.00
Property Sub-Type Detached
Source BRIGHT
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.
Location
State PA
County Lancaster
Area Lancaster City (10533)
Zoning R3- MEDIUM DENSITY
Rooms
Basement Outside Entrance, Sump Pump, Unfinished
Interior
Interior Features Attic, Cedar Closet(s), Combination Dining/Living, Floor Plan - Traditional, Wood Floors
Hot Water Multi-tank, Electric, Tankless
Heating Radiator, Baseboard - Electric
Cooling Ceiling Fan(s), Window Unit(s)
Flooring Carpet, Ceramic Tile, Hardwood, Laminate Plank
Equipment Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
Fireplace N
Appliance Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
Heat Source Electric
Exterior
Exterior Feature Porch(es), Brick
Utilities Available Electric Available, Phone Available, Cable TV Available, Water Available
Water Access N
View City, Street
Roof Type Composite,Shingle
Accessibility 2+ Access Exits
Porch Porch(es), Brick
Road Frontage City/County
Garage N
Private Pool No
Building
Foundation Stone, Concrete Perimeter
Above Ground Finished SqFt 1904
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
Structure Type Masonry,Dry Wall
New Construction N
Schools
School District School District Of Lancaster
Others
Tax ID 335-98260-0-0000
Ownership Fee Simple
SqFt Source 1904
Acceptable Financing Cash, Conventional, Exchange, FHA 203(k), FHA
Listing Terms Cash, Conventional, Exchange, FHA 203(k), FHA
Financing Cash,Conventional,Exchange,FHA 203(k),FHA
Special Listing Condition Standard
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