516 W Walnut St, Lancaster, PA 17603
- $399,900
- 1,904
- SqFt
- List Price
- $399,900
- Status
- COMING SOON
- MLS#
- PALA2092474
- Living Area
- 1,904
- Lot Size
- 3,484
- Region
- Lancaster City (10533)
- Subdivision
- Chestnut Hill
- Neighborhood
- Chestnut Hill
- Year Built
- 1900
- Acres
- 0.08
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.
Additional Information
- Style
- Traditional
- Foundation
- Stone, Concrete Perimeter
- Interior Features
- Attic, Cedar Closet(s), Combination Dining/Living, Floor Plan - Traditional, Wood Floors
- Accessibility Features
- 2+ Access Exits
- Exterior Features
- Fire Escape
- Sewer Septic
- Public Sewer
- Utilities
- Electric Available, Phone Available, Cable TV Available, Water Available
- Parking
- Public, Free
- Water
- Public
- Basement
- Yes
- Flooring
- Carpet, Ceramic Tile, Hardwood, Laminate Plank
- Roof
- Composite, Shingle
- Heating
- Radiator, Baseboard - Electric
Mortgage Calculator
Listing courtesy of Berkshire Hathaway HomeServices Homesale Realty. Contact: (800) 383-3535
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