Patterson-Schwartz Real Estate516 E Lancaster Avenue, Downingtown, PA 19335-2723 $495,000
With Pending Contract
Interior Sq. Ft: 2,824
Acreage: 0.2
Age:101 years
Taxes: $5,702
Subdivision: Downingtown
Design/Type:
Detached
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.
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Elem. School: East Ward Mid. School: Lionville High School: Downingtown High School East Campus
Features
Utilities
Baseboard - Electric Heating, Hot Water Heating, Electric, Natural Gas, Window Unit(s) Cooling, Electric, Hot Water - Electric, Public Water, Public Sewer, 200+ Amp Service
Garage/Parking
Off Street, Parking Lot, Paved Parking
Interior
Attic, Breakfast Area, Carpet, Ceiling Fan(s), Outside Entrance Basement, Rear Entrance Basement, Walkout Level Basement, Ceramic Tile Flooring, Hardwood Flooring, Partially Carpeted Flooring, Luxury Vinyl Plank Flooring, Plaster Walls, Energy Efficient Windows, Replacement Windows, Window Screens, Double Hung Windows, French Doors
Exterior
Brick/Mortar Foundation, Stone Foundation, Shingle Roof, Frame Exterior, Masonry, Deck(s), Porch(es), Exterior Lighting, Sidewalks, Street Lights
Lot
Front Yard, Level Lot, Garden/Lawn View, Street View
Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-285-5104
Listing Courtesy of: Keller Williams Real Estate - West Chester , (610) 399-5100, klrw472@kw.com
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Listing data as of 7/08/2025.
