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
Style:
Craftsman
Subdivision: Downingtown
Design/Type:
Detached
Description
Looking for that perfect combination of a character-filled home and a smart investment opportunity? Step into the charm and versatility of this Craftsman-style 2,800+ SF home, ideally located in the Downingtown Borough. Offering 5 spacious bedrooms and 2 full baths, this residence is rich with character and modern potential. A standout feature is the 700 SF lower level space with its own private entrance—perfect for a small business, in-law suite, or an efficiency 1-bed 1-bath rental. Enjoy special touches like the primary bedroom’s private deck, a cozy office with its own deck accessed through French doors, and a stunning wood-burning fireplace with stone surround and wood mantel. The walk-out basement offers generous storage and houses a current tenant running a small private laundry business—providing an option for continued rental income. The backyard includes eight off-street convenient parking spots and a stone-covered area that can be converted into a grassy yard if desired for outdoor enjoyment. Zoned R4, this property presents a wealth of possibilities—utilize the full square footage as a multi-unit rental, a combination of personal residence and investment space, or simply enjoy it as a unique and spacious single-family home. Just steps from the East Ward E1 elementary school and great shopping, minutes from Kerr Park, Struble Trail and Marsh Creek State Park, and the charm of Downingtown’s vibrant borough with restaurants, breweries and artisan shops. Easy access to major routes (30, 100 & 202), this home is also located within the highly rated Downingtown Area School District. A rare opportunity with flexibility, location, and charm—all in one. This is a must see - schedule your showing today.
Bedroom 2: 11 X 13 - Upper 1
Bedroom 3: 10 X 10 - Upper 1
Bedroom 4: Upper 1
Bedroom 5: Upper 1
Bathroom 1: Upper 1
Kitchen: Main
Dining Room: 12 X 16 - Main
Office: Main
Full Bath: Main
Basement: Lower 1
Efficiency (Additional): Lower 1
Office: Lower 1
Commercial/Retail Space: Lower 1
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, Hookup Laundry
Garage/Parking
Off Street, Parking Lot, Paved Parking
Interior
Attic, Breakfast Area, Carpet, Ceiling Fan(s), Combination Basement, Full Basement, Improved Basement, Interior Access Basement, Outside Entrance Basement, Rear Entrance Basement, Ceramic Tile Flooring, Hardwood Flooring, Partially Carpeted Flooring, Luxury Vinyl Plank Flooring, Mantel(s), Stone Fireplace, Wood Fireplace, 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 302-285-0977
Listing Courtesy of: Keller Williams Real Estate - West Chester , (610) 399-5100, klrw472@kw.com
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Listing data as of 7/04/2025.
