Three-Unit Multifamily with Garage
253 W LANCASTER Avenue Downingtown, PA 19335
For Sale
$565,000
MULTI_FAMILY - Colonial - DOWNINGTOWN, PA
Property Size2,510 SF
Lot Size0.29 Acres
Price / SF$225.10
Days on Market50
Property Features for 253 W LANCASTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
8
Parking features
Garage - Detached, Driveway
Standard status
Active
Size
2,510 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
7735
Utilities
Heating system
Baseboard, Electric (Heating)
Building Details
Year built
1910
Number of units
3
Building materials
Brick
Architectural style
Colonial
Listing Agency:
RE/MAX Action Associates
(610) 363-2001
Listed By:
Jamie Wagner · License #RS218677L
(610) 656-5646
Added: Jun 10
Changed: Jul 20
Last Checked: Jul 29 at 4:06AM
MLS# PACT2126846
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
253 W. Lancaster Avenue in Downingtown, PA is a three-unit multifamily property with an included two-car garage. The building totals 2,510 square feet and sits on a 0.2893-acre lot. Unit mix includes a main-level 2-bedroom, 1-bath apartment, a second-floor 2-bedroom, 1-bath apartment, and a third unit with 2 bedrooms and 1 bath.
The property is located along Lancaster Avenue in Downingtown Borough. Public remarks note the setting offers visibility and convenient access to shopping, dining, and major roadways, and it is described as being within walking distance of the Downingtown Train Station.
For investors or owner-occupants seeking residential income, the layout provides three separate apartments within a straightforward configuration. The included garage includes a loft area with electric, which the listing describes as having potential for additional rental use. If desired, the property is also described as having flexibility to be converted into a single-family residence.
The property is located along Lancaster Avenue in Downingtown Borough. Public remarks note the setting offers visibility and convenient access to shopping, dining, and major roadways, and it is described as being within walking distance of the Downingtown Train Station.
For investors or owner-occupants seeking residential income, the layout provides three separate apartments within a straightforward configuration. The included garage includes a loft area with electric, which the listing describes as having potential for additional rental use. If desired, the property is also described as having flexibility to be converted into a single-family residence.
Key Highlights
- 3‑unit multifamily property in Downingtown Borough with income‑producing apartments
- Main level offers a 2‑bedroom, 1‑bath unit
- Second‑floor unit features a 2‑bedroom, 1‑bath layout
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.2k | $19.20 |
| − Vacancy | −$7.0k | −$2.78 |
| EGI | $41.2k | $16.42 |
| − OpEx | −$12.4k | −$4.92 |
| NOI | $28.8k | $11.49 |
2,510 SF · lease $19.20/SF/yr · vacancy 14.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$412.0K
$360.5K – $480.7K
NOI $28,843 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$388.8K
$340.2K – $453.6K
NOI $27,217 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$761.0K
$665.9K – $887.8K
NOI $53,270 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three rental units plus a garage loft with electric offers flexible income and living configurations.
Where is this triplex located?
The property is located at 253 W LANCASTER Avenue Downingtown, PA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 3‑unit multifamily property in Downingtown Borough with income‑producing apartments; Main level offers a 2‑bedroom, 1‑bath unit; Second‑floor unit features a 2‑bedroom, 1‑bath layout
