Property
Beds
3
Full Baths
None
1/2 Baths
None
Year Built
1920
Sq.Footage
2,630
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.
Features & Amenities
Interior
-
Other Interior Features
High Ceilings
-
Total Bedrooms
3
-
Bathrooms
N/A
-
Above Grade Finished Area
2630.0
-
Basement YN
YES
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Natural Gas, Baseboard
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Aluminum Siding, Brick
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.1
-
Lot Size(square feet)
4,436
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Traditional
Price
-
Sales Price
$524,900
-
Tax Amount
$5,321
-
Financing Options
Cash, Conventional
-
Sq. Footage
2,630
-
Price/SqFt
$199
HOA
-
Association
No
School District
-
Elementary School
HANCOCK
-
Middle School
EISENHOWER
-
High School
NORRISTOWN AREA
Property Features
-
New Construction
NO
-
Foundation Details
Concrete Perimeter, Brick/Mortar
-
Sewer
Public Sewer
-
Tax Lot
087
-
Water Source
Public
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Location
County
MONTGOMERY
Elementary School
HANCOCK
Middle School
EISENHOWER
High School
NORRISTOWN AREA
Listing Courtesy of Gregory Martire, Springer Realty Group
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Owner, President, Investment Property Advisor
Theresa Kehler
Call Theresa today to schedule a private showing.
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