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Rare Downtown Opportunity: Restore and Reimagine 17 W 3rd Ave #1, Warren, PA

Located in the heart of downtown Warren, Pennsylvania, 17 W 3rd Ave #1 presents a rare and exciting opportunity for ambitious buyers seeking space, character, and long-term potential.

Priced at just $37,900, this expansive property offers nearly 3,500 square feet of living space on a quarter-acre lot, making it one of the most affordable large homes available in the area. With five bedrooms and three bathrooms, this residence is perfectly suited for a buyer ready to take on a rewarding restoration project.

This property is ideal for those who recognize the value of size, location, and historic charm. While the home requires renovation, its generous layout and downtown setting create a strong foundation for transformation into a stunning primary residence.

Prime Downtown Location

Situated on West 3rd Avenue, this home benefits from a central downtown location, placing shops, dining, entertainment, and community amenities within close proximity. Living downtown offers a unique lifestyle—walkability, convenience, and a sense of connection to the local community. Homes of this size in such a location are increasingly rare, making this property a standout option for owner-occupants willing to invest time and vision.

The quarter-acre lot provides breathing room not often found in downtown settings, offering space for outdoor use, landscaping, or future improvements.

Expansive Interior with Endless Possibilities

With nearly 3,500 square feet, this home offers an abundance of interior space that allows for flexible design options. The property includes five bedrooms, making it well-suited for large households, multi-generational living, or those who need dedicated space for a home office, studio, or guest accommodations.

The home features three bathrooms, including two full bathrooms and one half bath, providing a practical layout that supports a larger household. While updates are needed, the existing floor plan offers a solid starting point for modern redesign while maintaining the home’s original character.

The sheer size of the interior allows buyers to reimagine room configurations, create open-concept living areas, or restore traditional layouts that reflect the home’s historic roots.

A True Restoration Project

This property is best described as a fixer-upper with significant potential. It is ready for a buyer with ambition—someone who sees beyond current condition and recognizes the opportunity to restore a large home to its former glory. Renovations will be required, but the low purchase price provides room in the budget to invest in improvements that can dramatically increase both comfort and value.

For owner-occupants, this home offers the chance to create a customized living space tailored to personal tastes. For buyers who appreciate historic homes, the restoration process can be especially rewarding, preserving architectural details while incorporating modern updates.

First Look Program Advantage

This property is part of a First Look program, which offers a unique advantage to owner-occupant buyers. Under this program, owner occupants have the exclusive opportunity to have their offers negotiated starting on day eight of the listing, before investor offers are considered.

To qualify as an owner occupant, buyers must intend to occupy the property as their principal residence within 60 days of closing and commit to maintaining occupancy for at least one year. An Owner Occupant Certification is required as part of the purchase contract.

This program is designed to promote homeownership and neighborhood stability, giving individuals and families the chance to purchase and restore homes without immediate competition from investors.

Financing Requirements Explained

Buyers may use any lender of their choice to finance the purchase of this property. However, the seller has a specific requirement for all non-cash offers: they must be pre-qualified by NewRez Home Loan Division prior to offer acceptance.

This pre-qualification is free of charge and is required regardless of the lender the buyer ultimately chooses. Interested buyers can complete the process by contacting:

This step ensures buyers are financially prepared and helps streamline the transaction process.

Investor Restrictions

It is important to note that investors are not eligible to participate in the First Look period. Any purchase made by an investor, trust, vacation-home buyer, part-time resident, or someone purchasing on behalf of another individual will be classified as an investor offer.

These offers will only be considered after the First Look period has ended, reinforcing the program’s goal of prioritizing owner-occupant buyers.

No On-Site Parking

The property does not include designated parking, which is typical for many downtown homes. However, the central location may offer nearby street parking or alternative options depending on city regulations. Buyers should consider this factor when planning renovations or daily living arrangements.

A Smart Investment in the Right Hands

While this home is not move-in ready, it represents a strategic opportunity for the right buyer. At under $40,000, the acquisition cost is remarkably low for a home of this size and location. With thoughtful restoration, the property has the potential to become a standout residence in downtown Warren.

For owner occupants willing to invest time, effort, and creativity, this home can deliver long-term value, pride of ownership, and a unique living experience in a vibrant downtown setting.

17 W 3rd Ave #1, Warren, PA 16365 is a rare chance to purchase a large downtown home at an affordable price. With nearly 3,500 square feet, five bedrooms, three bathrooms, and a quarter-acre lot, the property offers a scale and location that are increasingly difficult to find.

FROM ZILLOW