Description
Live in one apartment, and let the others help pay your mortgage! This 4-unit property in Lancaster's highly desirable Chestnut Hill neighborhood offers a rare opportunity for an owner-occupant to step into real estate investing while enjoying a spacious, character-filled home. With FHA and VA financing options available, this is an accessible path to building wealth through real estate. The first-floor apartment spans the entire first level and lives like a single-family home. It offers multiple bonus rooms and flexible living space-ideal for a home office, guest rooms, or extended living. For those needing single floor living, this can work beautifully. The apartments provide immediate rental income, with a strong tenant base in place. Two apartments feature month to month leases and the others under a year, offering flexibility for a buyer who may want to reconfigure or increase rents over time. Current rents bring in $5,290 per month. Each apartment has its own unique character, with a mix of modern updates and historic charm, along with a dedicated outdoor deck or balcony for each apartment. All apartments are spacious, with layouts that lend to convenience and living well. A fourth floor storage area offers additional upside, whether as an additional bedroom for apartment 3, or an additional studio apartment. The property also features spacious yard space with mature, thoughtfully designed landscaping. Major improvements have already been handled, including roof work, mechanical updates, brick repointing, and interior improvements-reducing near-term capital expense for the next owner. Located on a quiet, tree-lined street just a short walk to downtown Lancaster, you're near Franklin & Marshall College, Fulton Theatre, and a thriving mix of restaurants, cafes, and art galleries. Whether you're looking to reduce your cost of living or take a serious step into real estate investing, this property offers flexibility, stability, and long-term upside in one of Lancaster's most sought-after neighborhoods. Don't miss the opportunity!
Details
| MLS # | PALA2094530 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1890 |
| Days On Site | 54 |
| Listing Provided By | Astoria Realty Advisors LLC | Benuel Esh |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 3,513 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | RESIDENTIAL |
| Acreage | 0.13 |
| Property View | City |
Interior
| Cooling | Central A/C, Window Unit(s) |
|---|---|
| Heating Yes / No | Yes |
| Heating | Radiator, Hot Water, Forced Air |
| Interior Features | Kitchen - Eat-In, Formal/Separate Dining Room, Wood Floors |
Exterior
| Exterior Features | Exterior Lighting, Gutter System, Play Area, Sidewalks |
|---|---|
| Roof | Architectural Shingle, Rubber |
| Security Features | Carbon Monoxide Detectors, Smoke Detector |
| Construction Materials | Brick, Masonry |
| Foundation Details | Stone |
| Lot Features | Backs to Trees, Landscaping, Level, Premium, Private, Rear Yard |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Free, Unassigned |
Utilities
| Utilities | Electric Available, Natural Gas Available, Sewer Available, Water Available |
|---|
Taxes
| Tax Annual Amount | 10396 |
|---|
Area Information
| State | PA |
|---|---|
| County | LANCASTER PA |
| City | LANCASTER |
| Zip Code | 17603 |
| Area | Lancaster City (10533) |
| Community Name | CHESTNUT HILL |
| School District | SCHOOL DISTRICT OF LANCASTER |
| Elementary School | FULTON E.S. |
| High School | MCCASKEY CAMPUS |
| Listing VS Median (in CHESTNUT HILL) | |
Price: $689,000 low | high Med: $525,000 sqft: 3,513 low | high Med: 2,060 $ / sqft: $196 low | high Med: $255 On site: 54 low | high Med: 140 | |
Market Activity 17603
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Learn More About This Property
| State | PA |
|---|---|
| County | LANCASTER PA |
| City | LANCASTER |
| Zip Code | 17603 |
| Area | Lancaster City (10533) |
| Community Name | CHESTNUT HILL |
| School District | SCHOOL DISTRICT OF LANCASTER |
| Elementary School | FULTON E.S. |
| High School | MCCASKEY CAMPUS |
| Listing VS Median (in CHESTNUT HILL) | |
Price: $689,000 low | high Med: $525,000 sqft: 3,513 low | high Med: 2,060 $ / sqft: $196 low | high Med: $255 On site: 54 low | high Med: 140 | |
