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About the Listing HOMESALE003 - 3234022,3331657
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.
Listing Highlights
Interior Details
- Bedrooms: 7
- Bathrooms: 3 Full
- Appliances: Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
- Air Cond: Ceiling Fan(s),Window Unit(s)
- Heating: Radiator,Baseboard - Electric
- Fireplaces:
- Floor: Carpet,Ceramic Tile,Hardwood,Laminate Plank
- Above Ground Sq Ft: 1904
- Below Ground Sq Ft: 0
- Basement: Outside Entrance,Sump Pump,Unfinished
- Other: Attic,Cedar Closet(s),Combination Dining/Living,Floor Plan - Traditional,Wood Floors
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 0.00 x 0.00
- Zoning: R3 - medium-density residential neighborhoods characterized by attached homes, multifamily dwellings, and smaller lots.
- Roof: Composite,Shingle
- Others: Fire Escape,Average
- Sewer: Public Sewer
- Parking Features: Public,Free,On Street
Financial Details
- Tax Amount: $9,520
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
516 W Walnut St Lancaster, PA 17603
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