516 W Walnut Street • Lancaster, PA 17603

$399,900 Beds: 0 • Baths:Sq. Feet: 1904 • MLS ID: PALA2092474 • Subdivision: CHESTNUT HILL • School Dist: SCHOOL DISTRICT OF LANCASTER
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. View this listing at: http://shreinergroup.com/mls=PALA2092474

Property Features

  • Taxes: $9,520
  • Basement: Yes
  • Roof Type: Composite,Shingle
  • Exterior: Frame,Metal Siding
  • Parking Notes: Public,Free
  • Special View Info: City,Street
  • Lot Size: 0.08 Acres
  • Lot Dimensions: 0.08 Acre(S)
  • Heating: Radiator,Baseboard - Electric
  • Fuel Type: Electric
  • Cooling: Ceiling Fan(s),Window Unit(s)
  • Year Built: 1900
  • Water: Public
  • Sewer: Public Sewer
  • Units: 3
  • Number of Rooms: 13
  • Two Bedroom Units: 2
  • Three Bedroom Units: 1
  • Municipality: LANCASTER CITY
  • Accessibility: 2+ Access Exits
  • Additional Structures: Above Grade,Below Grade
  • Location Description: Downtown
  • Structure Type: Detached
  • Appliances: Dishwasher,Exhaust Fan,Microwave,Oven/Range - Electric,Refrigerator,Stove,Water Heater,Water Heater - Tankless
  • Basement: Outside Entrance,Sump Pump,Unfinished
  • Exterior: Fire Escape
  • Interior: Attic,Cedar Closet(s),Combination Dining/Living,Floor Plan - Traditional,Wood Floors
  • Flooring: Carpet,Ceramic Tile,Hardwood,Laminate Plank
  • Electric Description: 200+ Amp Service
  • Utilities: Electric Available,Phone Available,Cable TV Available,Water Available

School Information

  • School District: SCHOOL DISTRICT OF LANCASTER
Printed August 01, 2026


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Agent License Information: 
Licensed in Pennsylvania
The Tim Shreiner Group
Tim Shreiner, Joel Leaman, Kristine (Kris) Lundquist, Jamie Haynes, Karl Fisher, Jensen King, George Zagas, Corey Shank, Trent Petersheim, Tori Weaver, Josh Glessner 

150 North Pointe Boulevard, Lancaster, PA 17601
717-560-9100