516 E Lancaster Avenue

DOWNINGTOWN, PA 19335

  • 0 Bed(s)
  • 0 Bath(s)
  • 2,824 Sqft
  • 8700
    Sqft(Lot)
$495,000

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.

  • Property Type

    Multi-Family

  • Subdivision

    Downingtown

  • County

    CHESTER

  • Style

    Craftsman

  • AD ID

    50210805

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Property Details

  • Water/Sewer

    • Water Source : Public

    Room Information

    • Patio/Porch Features: Porch(es),Deck(s)

    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
    • Roof : Shingle
    • Exterior Property Features : Sidewalks,Street Lights,Exterior Lighting
    • Basement Description: Outside Entrance,Rear Entrance,Walkout Level,Other
    • Property Appliances: Refrigerator,Dishwasher,Oven/Range - Electric

    Roofing Information

    • Shingle

    Heating & Cooling

    • Cooling: Window Unit(s)
    • Heating: Hot Water,Baseboard - Electric
    • Cooling Fuel: Electric
    • Heating Fuel: Electric,Natural Gas

    Window Information

    • Window Treatments: Replacement,Screens,Double Hung,Energy Efficient

  • Building Information

    • Exterior Features: Sidewalks,Street Lights,Exterior Lighting
    • Year Built: 1924
    • Structure: Detached
    • Fireplace: 1
    • Major Appliances: Refrigerator,Dishwasher,Oven/Range - Electric
    • New Construction: No
    • Total Units: 2
    • Built: 1924
    • Construction Material: Frame,Masonry
    • Roof: Shingle
    • Foundation/Basement: Brick/Mortar,Stone
    • Architecture: Craftsman
    • Pool/Private: No Pool
    • Roof Type: Shingle

    Pool Information

    • Pool: No Pool

    Utility Features

    • Sewer: Public Sewer

    Water

    • Water Heat: Electric

  • Lot Information

    • Lot Size: 8,700
    • Dimensions: 0.00 x 0.00
    • Lot Size (Acres): 0.20
    • Architectural Style: Craftsman
    • Main Square Feet: 8,700

    Property Information

    • SQ ft: 2,824
    • SQ ft (Living Area): 2,824
    • Total Lot SQ ft: 8,700
    • View: Garden/Lawn,Street
    • Subdivision: DOWNINGTOWN
    • Financing: Cash,Conventional,FHA,VA
    • Appx. Lot Dimensions: 0.00 x 0.00
    • Total Acreage: 0.20
    • New Construction: No
    • Type: Craftsman

  • Listing Information

    • Possession: 0-30 Days CD,31-60 Days CD
    • Days Of Market: 2

  • Tax Information

    • Annual Tax: $5,702
    • Tax Year: 2024
    • Total Taxes Payment Frequency: Annually

    Possession

    • 0-30 Days CD,31-60 Days CD

    Assessment Information

    • Taxes Assessment Amount: $128,070

  • Parking Information

    • Parking Features: Paved Parking,Crushed Stone
    • Parking Type: Parking Lot,Off Street

    Multi-Unit Information

    • Acceptable Financing: Cash,Conventional,FHA,VA
    • Roof: Shingle

    Homeowners Association Information

    • Direction: From Rte. 100, exit Rte. 30 (Lancaster Ave) to Wagner Ave, make a left and then next right onto to Sycamore Alley. Parking in rear.

  • School Information

    • Elementary School: EAST WARD
    • Middle OR Junior School: LIONVILLE
    • High School: DOWNINGTOWN HIGH SCHOOL EAST CAMPUS
    • School District: DOWNINGTOWN AREA

    Fire Place Information

    • Total Fire Place: 1

    Utility Information

    • Water Source: Public
    • Sewer: Public Sewer
    • Cooling Fuel: Electric
    • Heating Fuel: Electric,Natural Gas
    • Hot Water: Electric

    Location Information

    • Direction: From Rte. 100, exit Rte. 30 (Lancaster Ave) to Wagner Ave, make a left and then next right onto to Sycamore Alley. Parking in rear.
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BuyOwner last updated this listing 06/21/2025 @ 00:53

  • MLS: PACT2101916
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Other, with 0 bedrooms which is for sale, it has 2,824 sqft, 8,700 sized lot, and 0 parking. are nearby neighborhoods.