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Downingtown, PA 19335,516 E LANCASTER AVE
Downingtown, PA 19335,516 E LANCASTER AVE
Downingtown, PA 19335,516 E LANCASTER AVE
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Listed by Andrea Napoli • Keller Williams Real Estate - West Chester
$495,000
Est. payment /mo
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2,824 SqFt
New

516 E LANCASTER AVE Downingtown, PA 19335

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,824 sqft

Price per Sqft $175

Subdivision Downingtown

MLS Listing ID PACT2101916

Style Craftsman

Abv Grd Liv Area 2,124

Year Built 1924

Annual Tax Amount $5,702

Tax Year 2024

Lot Size 8,700 Sqft

Acres 0.2

Lot Dimensions 0.00 x 0.00

Property Sub-Type Detached

Source BRIGHT

Property Description

Looking for a high-potential investment property in a prime location? This Craftsman-style residence in the Downingtown Borough is a unique opportunity for multi-family investors. Zoned R4 and offering flexible use, the property includes two rentable spaces, making it ideal for a full investment conversion or a mixed-use portfolio asset. The main structure includes a 5-bedroom, 2-bath unit full of charm and historic character—ideal for long-term or short-term rental. A separate 700SF space with a private entrance can function as a 1-bed, 1-bath efficiency rental or a small business unit. Additional features include eight off-street parking spaces, a stone-covered rear yard (which could be converted to additional parking, green space, or tenant recreation), and multiple decks that enhance livability and appeal. French doors open to a private deck off the office space, and the primary bedroom office includes a second deck, perfect for work-from-home renters. Located within walking distance to Downingtown Borough's shops, dining, and parks, and just minutes to Routes 30, 100, and 202, this property is also in the top-rated Downingtown Area School District—an added draw for quality tenants. With its flexible zoning, strong rental history, and desirable location, this is a rare multi-family investment opportunity with built-in value and future upside.

Location

State PA

County Chester

Area Downingtown Boro (10311)

Zoning R4

Rooms

Basement Outside Entrance, Rear Entrance, Walkout Level, Other

Interior

Interior Features Attic, Bathroom - Tub Shower, Bathroom - Stall Shower, Breakfast Area, Carpet, Ceiling Fan(s), Floor Plan - Traditional, Formal/Separate Dining Room, Store/Office, Wood Floors, Efficiency, Other

Hot Water Electric

Heating Hot Water, Baseboard - Electric

Cooling Window Unit(s)

Flooring Ceramic Tile, Hardwood, Partially Carpeted, Luxury Vinyl Plank

Fireplaces Number 1

Inclusions Window AC units, kitchen refrigerator

Equipment Refrigerator, Dishwasher, Oven/Range - Electric

Fireplace Y

Window Features Replacement,Screens,Double Hung,Energy Efficient

Appliance Refrigerator, Dishwasher, Oven/Range - Electric

Heat Source Electric, Natural Gas

Exterior

Exterior Feature Porch(es), Deck(s)

Garage Spaces 8.0

Water Access N

View Garden/Lawn, Street

Roof Type Shingle

Accessibility None

Porch Porch(es), Deck(s)

Total Parking Spaces 8

Garage N

Building

Lot Description Level, Front Yard

Foundation Brick/Mortar, Stone

Sewer Public Sewer

Water Public

Architectural Style Craftsman

Additional Building Above Grade, Below Grade

Structure Type Plaster Walls

New Construction N

Schools

Elementary Schools East Ward

Middle Schools Lionville

High Schools Downingtown High School East Campus

School District Downingtown Area

Others

Tax ID 11-05 -0045

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, FHA, VA

Listing Terms Cash, Conventional, FHA, VA

Financing Cash,Conventional,FHA,VA

Special Listing Condition Standard

Bright MLS (BMLS)

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agent

Jonathan Greene

Team Leader | License ID: 1433604

+1(973) 873-0734

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