516 E Lancaster Ave, Downingtown, PA 19335
- $495,000
- 2,824
- SqFt
- Sold Price
- $495,000
- List Price
- $495,000
- Closing Date
- Sep 03, 2025
- Days on Market
- 11
- Status
- CLOSED
- MLS#
- PACT2101916
- Living Area
- 2,824
- Lot Size (Acres)
- 0.2
- Style
- Craftsman
- Year Built
- 1924
- County
- Chester
- School District
- Downingtown Area
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.
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Additional Information
- Area
- Downingtown Boro (10311)
- Subdivision
- Downingtown
- Interior Features
- Attic, Tub Shower, Shower Stall, Breakfast Area, Some Carpeting, Ceiling Fans, Traditional Floorplan, Formal Dining, Den/Library/Office, Wood Floors, Energy Efficient, Other
- School District
- Downingtown Area
- Elementary School
- East Ward
- Middle School
- Lionville
- High School
- Downingtown High School East Campus
- Fireplaces
- 1
- Flooring
- Tile, Hardwood, Partially Carpeted, Vinyl
- Exterior Features
- Sidewalk, Street Lights, Lighting
- View
- Garden, Street
- Heating
- Hot Water, Electric Baseboard
- Cooling
- Window/Wall
- Roof
- Shingle
- Water
- Public
- Sewer
- Public Sewer
- Basement
- Exterior Entry, Exterior Entry, Walkout, Other
Mortgage Calculator
Listing courtesy of Keller Williams Real Estate - West Chester. Contact:
Selling Office: Coldwell Banker Realty.
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