Property
Downingtown, PA 19335 516 E Lancaster Avenue
$495,000
Pending



40 more









































Presented By: Keller Williams Real Estate - West Chester
Disclaimer: The information contained in this listing has not been verified by Jhony Leyva | Your Local REALTOR® and should be verified by the buyer.
Home Details
Versatile Investment Property in Prime Downingtown Borough Location. If you're looking for a unique investment opportunity with both character and income potential, 516 E Lancaster Ave delivers. This 2,800+ SF Craftsman-style property is ideally situated in the Downingtown Borough, offering high visibility, flexible R4 zoning, and multiple revenue-generating possibilities. The layout is designed for versatility: the first floor features three rooms, a kitchen, and a full bathideal for professional office space, a small business, or residential rental. The second floor includes five additional rooms and another full bath, making it well-suited for a single home rental, business suites, or expanded workspace. Recent updates include new luxury vinyl plank flooring, upgraded lighting, two composite decks one one each level, and a striking stone fireplace as the focal point of the first-floor main room. A standout feature is the separate 700 SF unit on the lower level, complete with its own private entrance. This flexible rental space is ideal for a small business, private office, or conversion into a 1-bedroom, 1-bath efficiency apartment. In addition, the walk-out basement includes plenty of storage area. The rear of the property offers eight off-street parking spaces and a stone-covered area for overflow or guest parkingan essential feature for multi-family/tenant use. Whether you're an investor seeking multiple income streams, an entrepreneur looking for a live-work setup, or a buyer interested in combining personal residence with business use, this property offers exceptional flexibility. Located just steps from Downingtown Boroughs shops, restaurants, and train station, and minutes from Routes 30, 100, and 202this is a rare opportunity to own a character-filled property in a high-demand location. Within walking distance from vibrant Downingtown Borough, major shopping centers, restaurants, and small businesses, this property offers high visibility and easy access. Minutes from major routes (30, 100 & 202), this property is a rare opportunity with flexibility, location, and charmall in one. Flexible, functional, and full of potentialschedule your private showing today.
Presented By: Keller Williams Real Estate - West Chester
Interior Features for 516 E Lancaster Avenue
Bathrooms
Total Restrooms2
Other Interior Features
Central Air Y/NNo
FlooringCeramic Tile, Hardwood, Partially Carpeted, Luxury Vinyl Plank
Heating FuelElectric, Natural Gas
Heating Y/NYes
Hot WaterElectric
Total Stories3
Other Rooms
Entry Level1
General for 516 E Lancaster Avenue
Acceptable FinancingCash, Conventional, FHA, VA
AccessibilityNone
Avg. Electric Per Month245.0
Business TypeFlex, Hair Salon and Spa, Day Care Facility, Medical, Other/General Retail, Professional, Other
CityDOWNINGTOWN
Construction MaterialsFrame, Masonry
Cool FuelElectric
CoolingWindow Unit(s)
CountyCHESTER
DirectionsFrom Rte. 100, exit Rte. 30 (Lancaster Ave) to Wagner Ave, make a left and then next right onto to Sycamore Alley. Parking in rear.
Electric200+ Amp Service
Electric Expense2940.00
ExclusionsWashers and dryers
HeatingHot Water, Baseboard - Electric
Location TypeUrban
Lot Size Square Feet8700.00
Lot Size UnitsSquare Feet
MLS AreaDowningtown Boro (10311)
ModificationTimestamp2025-07-23T10:49:49
MunicipalityDOWNINGTOWN BORO
New ConstructionNo
Number Of Units Total1
OwnershipFee Simple
Possession0-30 Days CD, 31-60 Days CD
Possible UseBarber/Beauty, Day Care, Financial, Flex Space, Medical/Dental, Mixed Use, Multi-Family, Office, Professional Service, Residential, Retail, Other
Price Per Sq Ft Total AG176.79
Property ConditionVery Good
Property SubtypeMixed Use
Property TypeCommercial Sale
Property UseOwner User
RoofShingle
SewerPublic Sewer
Standard StatusPending
StatusPENDING
Subdivision NameDOWNINGTOWN
Tax Annual Amount5702.0
Tax Assessed Value128070.0
Tax Lot0045
Tax Year2024
TransportationCommuter Rail Station 1 to 5 miles, Bus Stop less than 1 mile
Vacation Rental Y/NNo
ViewGarden/Lawn, Street
Water Access Y/NNo
Year Built1924
Year Built SourceAssessor
ZoningR4
Exterior for 516 E Lancaster Avenue
Building Area Total2800.00
Car Parking Spaces8
Door FeaturesFrench
Foundation DetailsBrick/Mortar, Stone
InclusionsWindow AC units, kitchen refrigerator
Land Assessed Value36160.00
Land Use CodeR4
Lot Dimensions0.00 x 0.00
Lot FeaturesLevel, Front Yard
Lot Size Acres0.20
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Parking FeaturesPaved Parking
Total Loading Docks0
Total Parking Spaces8
Type of ParkingParking Lot
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo
Additional Details
Price History

Jhony Leyva
Realtor
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