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$375,000

  • For Sale
  • Active
  • Single Family
  • 1,904 Sq. Ft.
  • Updated 9 days ago
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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.

Full Property Details for 516 W Walnut St

General

  • Price: $375,000
  • Taxes: $9,520 (2025)
  • Status: Active
  • Type: Single Family
  • Source: BrightMLSPhilly
  • MLS ID: PALA2092474
  • Updated: 8/13/2026
  • Added to Site: 16 day(s) ago

Interior

  • Number of Rooms: 13
  • Interior Features: Attic, Cedar Closet(s), Combination Dining/Living, Floor Plan - Traditional, Wood Floors
  • Appliances: Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Stove, Water Heater, Water Heater - Tankless
  • Flooring: Carpet, Ceramic Tile, Hardwood, Laminate Plank

Exterior

  • Exterior Features: Fire Escape
  • Porch/Patio/Deck: Porch(es), Brick

Parking

  • Parking Features: Public, Free
  • Parking Type: On Street

Location

  • Area: Lancaster City (10533)
  • Municipality: LANCASTER CITY
  • County: LANCASTER
  • Subdivision: CHESTNUT HILL
  • Driving Directions: From US-30 East or West, take the Fruitville Pike/Downtown Lancaster exit. Continue south on Fruitville Pike, which becomes N. Prince Street. Turn right onto W. Walnut Street and continue to 516 W. Walnut Street, located in the Chestnut Hill neighborhood.
  • Location Details: Downtown

School Information

  • School District: School District Of Lancaster

Heating & Cooling

  • Cooling Type: Ceiling Fan(s), Window Unit(s)
  • Cooling Fuel: Electric
  • Heating Type: Radiator, Baseboard - Electric
  • Heating Fuel: Electric
  • Water Heater: Multi-tank, Electric, Tankless

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Electric Available, Phone Available, Cable TV Available, Water Available

Structural Information

  • Architectural Style: Traditional
  • Structure Type: Detached
  • Construction: Frame, Metal Siding
  • Basement: Yes
  • Basement Entrance: Yes
  • Basement Desc.: Outside Entrance, Sump Pump, Unfinished
  • Foundation: Stone, Concrete Perimeter
  • Roof: Composite, Shingle
  • Walls/Ceilings: Masonry, Dry Wall
  • Stories/Levels: 3
  • Square Feet: 1,904
  • Sq. Ft. Source: Estimated
  • Living Area: 1,904 Sq. Ft.
  • Finished Above Grnd: 1,904 Sq. Ft.
  • Year Built: 1900
  • Year Built Source: Assessor
  • Property Condition: Average

Unit Information

  • Other Units: Unit 1, Unit 1, Unit 1

Additional Structures

  • Other Structures: 2nd House, Shed Shop

Lot Features

  • Property View: City, Street
  • Lot Size (Acres): 0.08
  • Lot Size (Sq. Ft.): 3,485
  • Lot Size Source: Assessor
  • Zoning: R3- MEDIUM DENSITY

Financial Considerations

  • Price Per Sq. Ft.: $196.95
  • Assessment Year: 2026
  • School Tax: $5,870
  • City/TownTax: $2,912
  • City/TownTax Freq: Annually
  • County Tax: $738
  • County Tax Freq: Annually
  • Tax w/Assessment: $230,400
  • Tax Amount: $9,520
  • Tax Year: 2025
  • Owner Pays: Sewer, Trash Collection, Lawn/Shrub Care
  • Tax Total Finished Sq. Ft.: 1384

Disclosures and Reports

  • Ownership: Fee Simple

Listed by Berkshire Hathaway HomeServices Homesale Realty, Timothy K Shreiner and Berkshire Hathaway HomeServices Homesale Realty, George Zagas

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Listing agents

— 516 W Walnut St —

  • Timothy K Shreiner

    Berkshire Hathaway HomeServices Homesale Realty

  • George Zagas

    Berkshire Hathaway HomeServices Homesale Realty

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 516 W Walnut 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
6-80.1 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 516 W Walnut St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/13/2026
Price Reduced
$375,000
-6.23%
MLS
8/06/2026
Listed
$399,900
—
MLS
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 516 W Walnut St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,214
1%
$230,400
—
2024
$9,117
6%
$230,400
—
2023
$8,590
—
$230,400
—
2022
$8,590
1%
$230,400
—
2021
$8,500
1%
$230,400
—
2020
$8,406
2%
$230,400
—
2019
$8,280
-14%
$230,400
—
2018
$9,646
46%
$230,400
60%
2017
$6,619
2%
$144,100
—
2016
$6,480
1%
$144,100
—
2015
$6,403
4%
$144,100
—
2014
$6,153
—
$144,100
—
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 516 W Walnut 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 Berkshire Hathaway HomeServices Homesale Realty, Timothy K Shreiner and Berkshire Hathaway HomeServices Homesale Realty, George Zagas

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516 W Walnut Street, Lancaster, PA 17603 (MLS# PALA2092474) is a Single Family property with 0 bedrooms and 0 full bathrooms. 516 W Walnut Street is currently listed for $375,000 and was received on August 06, 2026. Want to learn more about 516 W Walnut Street? Do you have questions about finding other Single Family 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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