516 W Walnut St, Lancaster, PA 17603

Lancaster
Local realty services provided by:Better Homes and Gardens Real Estate Murphy & Co.
516 W Walnut St,Lancaster, PA 17603
$375,000
  • 7 Beds
  • - Baths
  • 1,904 sq. ft.
  • Multi-family
  • Pending
Listed by: timothy k shreiner, george zagas
Office: berkshire hathaway homeservices homesale realty
MLS#:PALA2092474
Source:BRIGHTMLS

Price summary

  • Price:$375,000
  • Price per sq. ft.:$196.95

About this home

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...

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Home facts

  • Year built:1900
  • Subdivision & Development:CHESTNUT HILL
  • Listing ID #:PALA2092474
  • Added:55 day(s) ago
  • Updated:September 25, 2026 at 09:05 AM

Rooms and interior

  • Bedrooms:7
  • Rooms Total:13
  • Flooring:Carpet, Ceramic Tile, Hardwood, Laminate Plank
  • Kitchen Description:Cedar Closet(s), Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
  • Basement:Yes
  • Basement Description:Outside Entrance, Sump Pump, Unfinished
  • Living area:1,904 sq. ft.

Heating and cooling

  • Cooling:Ceiling Fan(s), Window Unit(s)
  • Heating:Baseboard - Electric, Electric, Radiator

Structure and exterior

  • Roof:Composite, Shingle
  • Year built:1900
  • Building area:1,904 sq. ft.
  • Lot area:0.08 Acres
  • Lot Features:Downtown
  • Architectural Style:Traditional
  • Construction Materials:Frame, Metal Siding
  • Exterior Features:Brick, Fire Escape, Porch(es)
  • Foundation Description:Concrete Perimeter, Stone

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$375,000
  • Price per sq. ft.:$196.95
  • Tax amount:$9,520 (2025)

Features and amenities

  • Amenities:200+ Amp Service, Attic, Cable TV Available, Cedar Closet(s), Electric Available, Phone Available

Parking

  • Parking description:Free, On Street, Public

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