E Lancaster Ave

5 Bedroom House has been listed for rent at 516 E Lancaster Ave in DOWNINGTOWN for $2,950. Chat with a local expert, book a tour.

Downingtown

516 E Lancaster Ave

516 E Lancaster Ave, For Rent in DOWNINGTOWN - eXp Commercial Brokerage

It's all about Location! Updated 5 bed 2 bath home with 5 parking spots and 2 decks to enjoy! This house exudes curb appeal with a nice size front porch where you can sit and enjoy your morning coffee. As you enter the first floor you'll notice the abundance of natural sunlight throughout the house. For anyone working from home there's also an office with a view to your personal deck. The nice size kitchen, formal living room, and a full bathroom completes this floor. As you go upstairs there are 5 generously sized bedrooms and one full bathroom. The primary suite has its own personal deck to sit outside and enjoy the night sky. Location is key and this house is walking distance to shops and restaurants and minutes to major highways for your travel needs. The popular Handel's Homemade Ice Cream shop is your next-door neighbor. Come check out this house and make it your next home! Tenants are responsible for rent plus utilities.

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.

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 &amp; 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.

516 E Lancaster Ave, Downingtown, PA

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