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508 W Chestnut St, Lancaster, PA 17603

Lancaster
Local realty services provided by:CENTURY 21 New Millennium
508 W Chestnut St,Lancaster, PA 17603
$659,500
  • 4 Beds
  • - Baths
  • 2,722 sq. ft.
  • Multi-family
  • Active
Listed by: david k petersheim
Office: astoria realty advisors llc.
MLS#:PALA2091552
Source:BRIGHTMLS

Price summary

  • Price:$659,500
  • Price per sq. ft.:$242.29

About this home

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...

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Home facts

  • Year built:1900
  • Listing ID #:PALA2091552
  • Added:100 day(s) ago
  • Updated:October 23, 2026 at 01:40 PM

Rooms and interior

  • Bedrooms:4
  • Living area:2,722 sq. ft.

Heating and cooling

  • Heating:Natural Gas, Radiator

Structure and exterior

  • Roof:Rubber
  • Year built:1900
  • Building area:2,722 sq. ft.
  • Lot area:0.05 Acres
  • Construction Materials:Brick, Masonry
  • Foundation Description:Permanent

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$659,500
  • Price per sq. ft.:$242.29
  • Tax amount:$9,817 (2025)

Parking

  • Parking description:On Street

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