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Claire Davis

[email protected] +1(410) 991-0380

Listed by David Petersheim • Astoria Realty Advisors LLC

$ 659,500

Est. payment -/mo

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Price Dropped by $30K

508 W CHESTNUT ST Lancaster, PA 17603

2,722 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 2,722 sqft

Price per Sqft $242

MLS Listing ID PALA2091552

Style Other

Abv Grd Liv Area 2,722

Year Built 1900

Available Date 2026-07-20

Annual Tax Amount $9,817

Tax Year 2025

Lot Size 2,178 Sqft

Acres 0.05

Lot Dimensions 0.00 x 0.00

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

Five apartments, established rental income, and a desirable Chestnut Hill location, 508 W. Chestnut Street offers a practical opportunity to build your rental portfolio in Lancaster City. Now offered at $659,500, this well-maintained property brings in $5,660 per month in current rents, totaling $67,920 in annualized gross rental income. Property is fully leased.

For investors looking to purchase several units in one location, this property is worth a closer look. The asking price works out to $131,900 per unit, with an existing rent roll that allows you to evaluate the investment based on current income. Whether you're purchasing your first multifamily building or adding to an established portfolio, the five-unit layout gives you multiple sources of rental income within a single property.

Location matters when owning rentals, and Chestnut Hill puts residents close to much of what Lancaster has to offer. Downtown restaurants, shopping, Central Market, and entertainment are just minutes away, giving tenants convenient access to the city while living in an established neighborhood.

With a well-maintained building and rental income already in place, buyers have a foundation to build on through ongoing management and improvements over time. Review the rent roll and operating expenses, schedule a showing, and take a closer look at what 508 W. Chestnut Street could bring to your portfolio.

Location

State PA

County Lancaster

Area Lancaster City (10533)

Zoning 117

Interior

Hot Water 60+ Gallon Tank

Heating Radiator

Cooling Other

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Rubber

Accessibility None

Garage N

Private Pool No

Building

Foundation Permanent

Above Ground Finished SqFt 2722

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District School District Of Lancaster

Others

Tax ID 335-14073-0-0000

Ownership Fee Simple

SqFt Source 2722

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

Financing Conventional,Cash

Special Listing Condition Standard

NEARBY SCHOOLS & PROPERTIES

Claire Davis

Advisor License ID: 676497

+1(410) 991-0380

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