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$689,500 -$10,000 (-1.43%) Price Reduced

  • For Sale
  • Active
  • Apartment
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Exceptional 5-unit investment opportunity in Lancaster City's highly desirable Chestnut Hill neighborhood. Ideally situated just minutes from downtown Lancaster's restaurants, shopping, Central Market, and entertainment, this well-maintained property offers immediate income potential with room for future growth.

Full Property Details for 508 W Chestnut St

General

  • Price: $689,500
  • Taxes: $10,102 (2026)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSPhilly
  • MLS ID: PALA2092738
  • Updated: 8/26/2026
  • Added to Site: 31 day(s) ago

Business

  • Business Type: Apartment Building

Rooms

Bathrooms

  • Restrooms: 5

Parking

  • Parking Type: On Street

Location

  • Area: Lancaster City (10533)
  • Municipality: LANCASTER CITY
  • County: LANCASTER
  • Driving Directions: From US-30: Take the Harrisburg Pike exit toward Lancaster. Continue onto Harrisburg Pike, then turn right onto N Mulberry St. Turn left onto W Chestnut St. Property will be on the left.
  • Location Details: Downtown

Heating & Cooling

  • Cooling Type: Window Unit(s), Ductless/Mini-Split
  • Cooling Fuel: Electric
  • Heating Type: Radiator
  • Heating Fuel: Natural Gas
  • Water Heater: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Brick, Masonry
  • Roof: Flat, Rubber
  • Stories/Levels: 3
  • Building Size: 3692
  • Year Built: 1900
  • Year Built Source: Assessor
  • Property Condition: Good

Unit Information

  • # Tenants: Multiple
  • Other Units: Unit 1, Unit 2, Unit 4, Unit 5, Unit 3

Lot Features

  • Lot Size (Acres): 0.05
  • Lot Size (Sq. Ft.): 2,178
  • Lot Size Source: Assessor
  • Zoning: RESIDENTIAL HIGH DENSITY

Financial Considerations

  • Price Per Sq. Ft.: $186.76
  • Assessment Year: 2026
  • School Tax: $6,338
  • City/TownTax: $3,003
  • City/TownTax Freq: Annually
  • County Tax: $761
  • County Tax Freq: Annually
  • Tax w/Assessment: $237,600
  • Tax Amount: $10,102
  • Tax Year: 2026

Disclosures and Reports

  • Ownership: Fee Simple
  • Investment: Yes

Listed by Astoria Realty Advisors LLC, David K Petersheim

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Listing agent

— 508 W Chestnut St —

  • David K Petersheim

    Astoria Realty Advisors LLC

Listing Office Email: chris@thechrisgoodteam.com

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 508 W Chestnut St

School District:Lancaster School District
NameGradesDistance
Fulton El School, Lancaster, PA
225 West Orange Street, Lancaster, PA 17603
PK-50.3 mi
Reynolds Middle School
605 West Walnut Street, Lancaster, PA 17603
6-80.2 mi
Mccaskey Campus
445 North Reservoir Street, Lancaster, PA 17602
9-121.4 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 508 W Chestnut St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/26/2026
Price Reduced
$689,500
-1.43%
MLS
7/28/2026
Listed
$699,500
12.82%
MLS
1/07/2025
Sold
$620,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 508 W Chestnut St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,502
1%
$237,600
—
2024
$9,402
6%
$237,600
—
2023
$8,859
—
$237,600
—
2022
$8,859
1%
$237,600
—
2021
$8,766
1%
$237,600
—
2020
$8,669
2%
$237,600
—
2019
$8,539
-14%
$237,600
—
2018
$9,948
75%
$237,600
92%
2017
$5,677
2%
$123,600
—
2016
$5,558
1%
$123,600
—
2015
$5,492
4%
$123,600
—
2014
$5,277
—
$123,600
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 508 W Chestnut St

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Astoria Realty Advisors LLC, David K Petersheim

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508 W Chestnut Street, Lancaster, PA 17603 (MLS# PALA2092738) is a Apartment property. 508 W Chestnut Street is currently listed for $689,500 and was received on July 28, 2026. Want to learn more about 508 W Chestnut Street? Do you have questions about finding other Apartment real estate for sale in Lancaster? You can browse all Lancaster real estate or contact a Coldwell Banker agent to request more information.

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