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$495,000
27 Days On Site

516 E LANCASTER AVENUE
DOWNINGTOWN, PA 19335

For Sale|Multi Family|Active Under Contract
1
Bed
0
Total Baths
2,824
SqFt
$175
/SqFt
1924
Built
Subdivision:
DOWNINGTOWN
County:
CHESTER
Listing courtesy of Keller Williams Real Estate - West Chester
Call Now: 717-298-8040
Is this the listing for you? We can help make it yours.
717-298-8040
516 E LANCASTER AVENUE516 E LANCASTER AVENUE516 E LANCASTER AVENUE516 E LANCASTER AVENUE
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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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Listing Snapshot
Price 
$495,000
Days On Site 
27 Days
Bedrooms 
1
Inside Area (SqFt) 
2,824 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.2 Acres
Year Built 
1924
MLS® Number 
PACT2101916
Status 
Active Under Contract
Property Tax 
$5,702
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
3 weeks agoStatus changed to Active Under Contract
3 weeks agoListing updated with changes from the MLS®
4 weeks agoListing first seen on site
General Features
Acres 
0.2
Cross Street 
CHESTNUT
Foundation 
Brick/MortarStone
Parking 
Off StreetGravelPavedParking Lot
Parking Spaces 
8
Property Sub Type 
Multi Family
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Above 
2124
SqFt Below 
700
SqFt Total 
2824
Style 
Craftsman
Water Source 
Public
Zoning 
R4
Interior Features
Appliances 
Electric RangeElectric OvenElectric Water HeaterRefrigeratorDishwasher
Basement 
Exterior EntryWalk-Out AccessOther
Cooling 
Ceiling Fan(s)Window Unit(s)Electric
Electric 
200+ Amp Service
Fireplace 
Yes
Fireplaces 
1
Flooring 
CarpetWoodCeramic TileHardwoodVinyl
Heating 
ElectricNatural GasHot WaterBaseboard
Interior 
Ceiling Fan(s)Other
Window Features 
Screens
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Exterior Features
Construction Details 
Frame
Exterior 
Lighting
Lot Features 
LevelFront Yard
Patio And Porch 
PorchDeck
Pool Features 
None
Roof 
Shingle
View 
StreetGarden
Waterview 
StreetGarden
Windows/Doors 
Screens
Community Features
Community Features 
SidewalksStreet Lights
MLS Area 
Downingtown Boro (10311)
School District 
DOWNINGTOWN AREA
Schools
School District
DOWNINGTOWN AREA
Elementary School
EAST WARD
Middle School
LIONVILLE
High School
DOWNINGTOWN HIGH SCHOOL EAST CAMPUS
Listing courtesy of Keller Williams Real Estate - West Chester



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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