A massive stone property located in Germantown’s Tulpehocken Station Historic District has hit the market for just under $900,000, but there’s plenty of potential for extra income to cover the costs.
The Queen Anne-style home at 264 W. Walnut Lane dates back to 1896 and was designed by architecture firm G.W. and W.D. Hewitt, the same designers behind many Chestnut Hill homes built in that era. Today, however, the stately 7,601-square-foot property has been converted into a six-unit property that includes an “owner’s” unit with a private entrance.
While the property has been modernized, the property as a whole has retained much of its original 19th-century character, from the ornate fireplace mantels to the stained glass windows to the intricate woodwork throughout.
There are a couple of opportunities for the future owner, says listing agent Christopher Plant. The home is large enough that a few of the apartment could be converted into one large unit while continuing to generate income from the others, or the layout could remain as is.
The asking price of the property is $899,000. Currently, it generates $65,000 in rental income each year.
- 264 W. Walnut Lane [Christopher Plant, Elfant Wissahickon Realtors]