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Sold for $365,000
    • $365,000

    516 W Walnut St, Lancaster, PA 17603

    7beds
    3baths
    1,904sqft
    Triplex
    Built in 1900
    -- sqft lot
    $365,100 Zestimate®
    $192/sqft
    $1,953 Estimated rent

    Home value

    $365,100

    $347,000 - $383,000

    $1,953/mo

    Zestimate® history
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    $1,953/mo

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    $2,488/mo

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    $2,488/mo

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    What's special

    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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Timothy Shreiner 717-560-8496,

    Berkshire Hathaway HomeServices Homesale Realty,

    Co-Listing Agent: George Zagas 717-286-9790,

    Berkshire Hathaway HomeServices Homesale Realty

    Bought with:

    Catesby Gilbert, rs355709

    Mountain Realty ERA Powered

    Source: Bright MLS,MLS#: PALA2092474MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 7
    • Bathrooms: 3
    Basement
    • Area: 0
    Heating
    • Radiator, Baseboard, Electric
    Cooling
    • Ceiling Fan(s), Window Unit(s), Electric
    Appliances
    • Included: Dishwasher, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Cooktop, Water Heater, Tankless Water Heater, Electric Water Heater
    Features
    • Attic, Cedar Closet(s), Combination Dining/Living, Floor Plan - Traditional, Dry Wall
    • Flooring: Carpet, Ceramic Tile, Hardwood, Laminate, Wood
    • Basement: Exterior Entry,Sump Pump,Unfinished
    • Has fireplace: No
    Interior area
    • Total structure area: 1,904
    • Total interior livable area: 1,904 sqft

    Property

    Parking
    • Parking features: Public, Free, On Street
    • Has uncovered spaces: Yes
    Accessibility
    • Accessibility features: 2+ Access Exits
    Features
    • Patio & porch: Porch, Brick
    • Pool features: None
    • Has view: Yes
    • View description: City, Street
    Lot
    • Size: 3,485 Square Feet
    • Features: Downtown
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 3359826000000
    • Zoning: R3- MEDIUM DENSITY
    • Zoning description: R3 - medium-density residential neighborhoods characterized by attached homes, multifamily dwellings, and smaller lots.
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Traditional
    • Property subtype: Triplex
    Materials
    • Frame, Metal Siding, Masonry
    • Foundation: Stone, Concrete Perimeter
    • Roof: Composition,Shingle
    Condition
    • Average
    • New construction: No
    • Year built: 1900

    Utilities & green energy

    • Electric: 200+ Amp Service
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Available, Phone Available, Cable Available, Water Available

    Community & HOA

    Community
    • Security: Fire Escape
    • Subdivision: Chestnut Hill
    Location
    • Region: Lancaster
    • Municipality: LANCASTER CITY

    Financial & listing details

    • Price per square foot: $192/sqft
    • Tax assessed value: $230,400
    • Annual tax amount: $9,520
    • Date on market: 8/6/2026
    • Listing agreement: Exclusive Right To Sell
    • Listing terms: Cash,Conventional,1031 Exchange,FHA 203(k),FHA
    • Ownership: Fee Simple

    Price history

    DateEventPrice
    9/30/2026Sold$365,000-2.7%$192/sqft
    Source: Bright MLS #PALA2092474 Report a problem
    8/27/2026Pending sale$375,000$197/sqft
    Source: Bright MLS #PALA2092474 Report a problem
    8/13/2026Price change$375,000-6.2%$197/sqft
    Source: Bright MLS #PALA2092474 Report a problem
    8/6/2026Listed for sale$399,900$210/sqft
    Source: Bright MLS #PALA2092474 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2026$9,520 +3.3%$230,400
    2025$9,214 +1.1%$230,400
    2024$9,117 +1.7%$230,400
    2023$8,964 +4.3%$230,400
    2022$8,590 $230,400
    2021$8,590 +1180.8%$230,400
    2020$671 -91.9%$230,400
    2019$8,280 +1134.6%$230,400
    2018$671 -89.9%$230,400 +59.9%
    2017$6,619 +0.9%$144,100
    2016$6,558 +14.6%$144,100
    2015$5,724 $144,100
    2014$5,724 $144,100
    2012-- $144,100
    2011-- $144,100
    2010-- $144,100
    2009-- $144,100
    2007-- $144,100
    2006-- $144,100 +7.1%
    2004-- $134,500
    2003-- $134,500
    2002-- $134,500
    2000-- $134,500
    Find assessor info on the county website

    Neighborhood: Chestnut Hill

    Nearby homes

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • District: School District Of Lancaster

    Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

    Sell for more on Zillow
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    $365,100
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    Sell for more on Zillow
    Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
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    +$7,302
    With Zillow Showcase(estimated)
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