516 E Lancaster Avenue, Downingtown, PA 19335 - Photo 1

1/1

$495,000

Sold
Closed
Single Family
2,824 Sq. Ft.

1/1

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.

Full Property Details

Full Property Details for 516 E Lancaster Ave

General

Sold For: $495,000
Taxes: $5,702 (2024)
Status: Closed
Type: Single Family
Source: BrightMLSPhilly
MLS ID: PACT2101916
Added to Site: 251 day(s) ago

Interior

Number of Rooms: 11
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
Fireplace: Yes
Number of Fireplaces: 1
Appliances: Refrigerator, Dishwasher, Oven/Range - Electric
Flooring: CeramicTile, Hardwood, Partially Carpeted, Luxury Vinyl Plank

Exterior

Exterior Features: Sidewalks, Street Lights, Exterior Lighting
Porch/Patio/Deck: Porch, Deck

Parking

Total Spaces: 8
Parking Features: Paved Parking, Crushed Stone
Parking Type: Parking Lot, Off Street

Location

Area: Downingtown Boro (10311)
Municipality: DOWNINGTOWN BORO
County: CHESTER
Subdivision: DOWNINGTOWN
Cross Streets: Chestnut
Driving Directions: 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

School District: Downingtown Area
Elementary School: East Ward
Middle School: Lionville
High School: Downingtown High School East Campus

Heating & Cooling

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

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Architectural Style: Craftsman
Structure Type: Detached
Construction: Frame, Masonry
Basement: Yes
Basement Entrance: Yes
Basement Desc.: Outside Entrance, Rear Entrance, Walkout Level, Other
Foundation: Brick/Mortar, Stone
Roof: Shingle
Walls/Ceilings: Plaster Walls
Windows: Replacement, Screens, Double Hung, Energy Efficient
Doors: FrenchDoors
Square Feet: 2,824
Sq. Ft. Source: Assessor
Living Area: 2,824 Sq. Ft.
Finished Above Grnd: 2,124 Sq. Ft.
Finished Below Grnd: 700 Sq. Ft.
Year Built: 1924
Year Built Source: Assessor
Property Condition: Very Good

Unit Information

Other Units: Unit 1, Unit 2

Lot Features

Property View: Garden/Lawn, Street
Lot Size (Acres): 0.2
Lot Size (Sq. Ft.): 8,700
Lot Size Source: Assessor
Zoning: R4
Lot Description: Level, Front Yard

Financial Considerations

Price Per Sq. Ft.: $233.05
Assessment Year: 2025
School Tax: $3,933
City/TownTax: $1,107
City/TownTax Freq: Annually
County Tax: $661
County Tax Freq: Annually
Tax w/Assessment: $128,070
Tax Amount: $5,702
Tax Year: 2024
Terms: Standard Sale
Tax Total Finished Sq. Ft.: 2824

Disclosures and Reports

Ownership: Fee Simple
Exclusions: Washers and dryers
Inclusions: Window AC units, kitchen refrigerator
Lot Number: 45

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Meet the selling agent

— 516 E Lancaster Ave —

The Paul Graci Team

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Schools

Schools serving 516 E Lancaster Ave

School District:Downingtown Area School District

Name	Grades	Distance
East Ward El School 435 Washington Avenue, Downingtown, PA 19335	K-5	0.1 mi
Lionville Middle School 550 West Uwchlan Avenue, Exton, PA 19341	7-8	3.1 mi
Downingtown High School East Campus 50 Devon Drive, Exton, PA 19341	9-12	2.7 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 516 E Lancaster Ave

Date

Details

Price

Change

Source

9/03/2025

Sold

$495,000

—

MLS

6/19/2025

Listed

$495,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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$8,837

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Commercial Lease
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Listed by Real of Pennsylvania, Brett Furman

Price Reduced

-$377 (-16.64%)

$1,888

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Commercial Lease
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Listed by Real of Pennsylvania, Brett Furman

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-$390 (-16.65%)

$1,953

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Just Listed

$600,000

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Townhouse
Active
Updated 7 hours ago

3
Beds
3
Total Baths
1,934
Sq. Ft.

Listed by BHHS Fox & Roach-West Chester, R. Kit Anstey and BHHS Fox & Roach-West Chester, Deborah A West

Price Reduced

-$377 (-16.64%)

$1,888

80 W Welsh Pool Rd #205N Exton, PA 19341

Commercial Lease
Active

Listed by Real of Pennsylvania, Brett Furman

Price Reduced

-$390 (-16.65%)

$1,953

80 W Welsh Pool Rd #207 N Exton, PA 19341

Commercial Lease
Active

Listed by Real of Pennsylvania, Brett Furman

Price Reduced

-$1,768 (-16.67%)

$8,837

80 W Welsh Pool Rd #203 SOUTH Exton, PA 19341

Commercial Lease
Active

Listed by Real of Pennsylvania, Brett Furman

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Price Reduced

-$20,000 (-2.44%)

$799,900

1716 Frost Ln West Chester, PA 19380

Single Family
Active
Updated 5 days ago

4
Beds
4
Total Baths
3,482
Sq. Ft.

Listed by Century 21 Advantage Gold - Newtown Square, David F Joslin Jr.

516 E Lancaster Avenue, Downingtown, PA 19335 (MLS# PACT2101916) is a Single Family property that was sold at $495,000 on September 03, 2025. This property was sold by The Paul Graci Team from our Exton Office.Want to learn more about 516 E Lancaster Avenue? Do you have questions about finding other Single Family real estate for sale in Downingtown? You can browse all Downingtown real estate or contact a Coldwell Banker agent to request more information.

516 E Lancaster Ave Downingtown, PA 19335