SQUARE FEET2,630
MLS#PAMC2195682
STATUSACTIVE
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONNORRISTOWN
SCHOOLNORRISTOWN AREA
Property Description
5 UNITS Welcome to 315 W Fornance St, Norristown, PA 19401! Exceptional 5-unit cash-flowing property located in the heart of Norristown. Purchase and run it as-is with immediate positive cash flow, or optimize for even higher yields. Check the numbers below for detailed investor information and financial performance. The building offers a mix of three one-bedroom units and two studios, all currently leased. The one-bedroom units rent for $1,044, $945, and $918 per month, and the studios rent for $971 and $803 per month. Leases are in place on all five units and run into 2027, which gives a buyer stable, predictable income from day one. Current monthly rents total $4,681, for annual rents of $56,172. Known expenses are $8,921, made up of $5,321 in real estate taxes, which include trash service, and $3,600 in insurance. This is a strong opportunity for an investor looking to add scale to a portfolio with one closing and one property to manage. Contact us today for more details or to schedule a showing.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Full
Cooling: None
Fuel Type: Natural Gas
Heating: Baseboard - Electric
Home Style: Traditional
Lot Size: 0.10 Acres
Roof Type: Shingle
Taxes: $5,321
Year Built: 1920
Feature Descriptions
Additional Structures: Above Grade, Below Grade
Electric: 200+ Amp Service
Exterior: Aluminum Siding, Brick
Flooring: Carpet, Wood, Vinyl
Lot Dimensions: 0.10 Acre(S)
Municipality: NORRISTOWN BORO
One Bedroom Units: 3
Sewer: Public Sewer
Structure Type: Detached
Studio Efficiency Units: 2
Units: 4
Water: Public
Local Schools
High School: NORRISTOWN AREA
Middle School: EISENHOWER
Elementary School: HANCOCK
School District: NORRISTOWN AREA
Listed By / Shown By
Listed By
Agency Name: Springer Realty Group
Agency Phone: 4844984000
Shown By
Agent Name: Patty Price
Agent Phone: (717) 487-4965
Agency Title: Berkshire Hathaway HomeServices Homesale Realty
First AmericanEstimate Your Payment
Estimated Payment
$ 1,764.71 per month $1,168.20 Principal & Interest $443.42 Property Tax $153.10 Homeowner's Insurance
Corporate Office - 215 S Centerville Rd. Lancaster, PA 17603
315 W Fornance Street | MLS# PAMC2195682
This multi-family property located at 315 W Fornance Street, Norristown, PA 19401 is currently listed for sale with an asking price of $524,900. W Fornance Street is located within the NORRISTOWN AREA school district. Search Norristown real estate on www.pattyaprice.com today.