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. For… Read More 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. Read Less
Courtesy of David K Petersheim, Astoria Realty Advisors LLC 717-425-6264
Listing Snapshot
Days Online
84
Last Updated
Property Type
Commercial
Square Ft.
3,692
Lot Size
0.05 Acres
Year Built
1900
MLS Number
PALA2092738
Additional Details
Building
Built in 1900, 3 stories, Construction Materials: Brick, Masonry
Cooling
Window Unit(s), Ductless/Mini-Split
Heating
Radiator
Income
Gross Income: $67,920, Apartment Rentals
Lot
0.05 acres, Dimensions: 0.00 x 0.00
Property
Good
Roof
Flat, Rubber
Sewer
Public Sewer
Taxes
Annual Amount: $10,102, Year: 2026, Zoning: RESIDENTIAL HIGH DENSITY, Zoning description: Residential High Density / R4
Utilities
Water Source: Public
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