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.
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Listing Snapshot
Price
$375,000
Days On Site
44 Days
Bedrooms
7
Inside Area (SqFt)
1,904 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.08 Acres
Year Built
1900
MLS® Number
PALA2092474
Status
Pending
Property Tax
$9,520
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
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Recent Activity
3 weeks ago
Status changed to Pending
3 weeks ago
Listing updated with changes from the MLS®
a month ago
Price changed to $375,000
a month ago
Listing first seen on site
General Features
Acres
0.08
Foundation
StoneConcrete Perimeter
Number Of Stories
3
Parking
On Street
Property Sub Type
Triplex
Security
Fire Escape
Sewer
Public Sewer
Special Circumstances
Standard
SqFt Above
1904
SqFt Total
1904
Style
Traditional
Utilities
Cable AvailablePhone AvailableWater AvailableElectricity Available
Water Source
Public
Zoning
R3- MEDIUM DENSITY
Interior Features
Appliances
Electric RangeElectric OvenCooktopElectric Water HeaterDishwasherExhaust FanMicrowaveRefrigeratorWater HeaterTankless Water Heater
Basement
Exterior EntrySump PumpUnfinished
Cooling
Ceiling Fan(s)Window Unit(s)Electric
Electric
200+ Amp Service
Flooring
LaminateWoodCarpetCeramic TileHardwood
Furnished?
None
Heating
Exhaust FanElectricBaseboardRadiant
Interior
Cedar Closet(s)
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Exterior Features
Construction Details
FrameMetal Siding
Other Structures
Second Residence
Patio And Porch
Porch
Pool Features
None
Roof
CompositionShingle
View
CityStreet
Waterview
CityStreet
Community Features
MLS Area
Lancaster City (10533)
School District
SCHOOL DISTRICT OF LANCASTER
Schools
School District
SCHOOL DISTRICT OF LANCASTER
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of Berkshire Hathaway HomeServices Homesale Realty
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