516 W Walnut Street , Lancaster, PA 17603Asking Price of: $399,900

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Primary property photo for 516 W Walnut Street

View full listing details at http://www.homesale.com/lid=188584757

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 Details

Address: 516 W Walnut Street , Lancaster, PA 17603
Bedrooms: 0
Size: 1,904 square feet
Type: Traditional
Subdivision: CHESTNUT HILL
Area: LANCASTER CITY
School District: SCHOOL DISTRICT OF LANCASTER
MLS ID: PALA2092474
Status: COMING SOON

Property School Information

School District: SCHOOL DISTRICT OF LANCASTER

Property Features

Taxes: $9,520
Basement: Yes
Roof Type: Composite,Shingle
Exterior: Frame,Metal Siding
Parking Notes: Public,Free
Special View Info: City,Street
Lot Size: 0.08 Acres
Lot Dimensions: 0.08 Acre(S)
Heating: Radiator,Baseboard - Electric
Fuel Type: Electric
Cooling: Ceiling Fan(s),Window Unit(s)
Year Built: 1900
Water: Public
Sewer: Public Sewer
Units: 3
Number of Rooms: 13
Two Bedroom Units: 2
Three Bedroom Units: 1
Municipality: LANCASTER CITY
Accessibility: 2+ Access Exits
Additional Structures: Above Grade,Below Grade
Location Description: Downtown
Structure Type: Detached
Appliances: Dishwasher,Exhaust Fan,Microwave,Oven/Range - Electric,Refrigerator,Stove,Water Heater,Water Heater - Tankless
Basement: Outside Entrance,Sump Pump,Unfinished
Exterior: Fire Escape
Interior: Attic,Cedar Closet(s),Combination Dining/Living,Floor Plan - Traditional,Wood Floors
Flooring: Carpet,Ceramic Tile,Hardwood,Laminate Plank
Electric Description: 200+ Amp Service
Utilities: Electric Available,Phone Available,Cable TV Available,Water Available

Property information as of Tuesday, August 4, 2026 at 6:10 AM America/New_York

Listed By

Agency Name: Berkshire Hathaway HomeServices Homesale Realty
Agency Phone: Direct Office: (717) 286-9605
Agent Name: Timothy Shreiner

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