Listed By:
Springer Realty Group; (484) 498-4000
Address
157 1/2 W Elm, Norristown, PA
Price
$ 1,971,579
Property Attributes
  • MLS#PAMC2036298
  • TypeMulti-Family
  • MunicipalityNORRISTOWN BORO
  • CountyMONTGOMERY
  • CityNorristown
  • AreaNorristown Boro
  • Zip19401
  • Style
  • Year Built1911
  • Taxes$ 2577
  • Price$ 1,971,579
  • Bedrooms39
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size1,307 SqFt
Data Source:
Bright MLS
Property Description

Package purchase price is $1,971,579. 10 single family houses and a triplex with an onsite laundromat being sold as a $1,971,579 package deal ONLY. Math and numbers are for all properties added up. All are legal rentals and fully occupied with well vetted tenants. Excellent CAP rate! See Profit and Loss math below and in documents section. High income producing properties with extremely low bills and great POSITIVE cash-flow. Very low maintenance with tenants in place. Rent incomes produce $11,850 positive cash-flow per month or $142k+ per year after all expenses! In the houses, the owner pays trash and sewer, tenant pays everything else. Triplex tenants pay for PECO (Gas and electric) utilities, owner pays everything else. Owner pays ONLY Water, Sewer, Trash, Common Lights, Gas to heat the laundry room ($9,112/year), Insurance ($6,681/year) and Taxes ($34,798/year). Rental Incomes: 107 Stanbridge ($15,866/year), 220 Spruce ($13,177), 657 Kohn ($17635/year), 712 Astor ($13,700/year), 808 George ($22,200/year), 828 Smith ($20,220/year), 1321 Redwood ($17,509/year), 145 Elm ($15,900/year), 151 Elm ($19,275/year), 153 Elm ($18,274/year), 157 W Elm ($36,616+6k others/year). Profit and Loss Math: Rents: $15866+$13,177+$17,635+$13,700+$22,200+$20,220+$17,509+$15,900+$19275+$18,274+$36,616+ Triplex Laundry + Other Income $5,921=$216,294 per year gross income - $9,112 (Sewer/Trash/Common Lights/Gas) - $34,798 (Property Taxes) - $6,681 (Insurance) – Repair Supplies and Services $6,726 – $1,334 (Permits and Licenses) – $5,100 (Admin Expense) – $10,307 Vacancy Allowance (5%) = $142,233 Positive Cash Flow. Properties in the package deal are: 107 Stanbridge St, Norristown, PA 19401 (Tax ID: 13-00-35232-008), 220 W Spruce St Norristown, PA 19401 (Tax ID: 13-00-34128-005), 657 Kohn St Norristown, PA 19401 (Tax ID: 13-00-18920-003), 712 Astor St Norristown, PA 19401 (Tax ID: 13-00-02816-006), 808 George St Norristown, PA 19401 (Tax ID: 13-00-13260-002), 828 Smith St, Norristown, PA 19401 (Tax ID: 13-00-33704-006), 1321 Redwood Ln, Norristown, PA 19401 (Tax ID: 13-00-31968-005), 145 W Elm St, Norristown, PA 19401 (Tax ID: 13-00-10600-007), 151 W Elm St, Norristown, PA 19401 (Tax ID: 13-00-10612-004), 153 W Elm St Norristown, PA 19401 (Tax ID: 13-00-10616-009), 157 W Elm St, Norristown, PA 19401 (Tax ID: 13-00-10624-001)

Price History
4/28/2022 Listed $1,971,579

General Features

Acceptable Financing Cash, Conventional, FHA, VA, USDA, FHA 203(k)
Accessibility None
Architectural Style Other
Construction Materials Brick, Masonry
Cool Fuel Electric
Cooling Ceiling Fan(s)
County MONTGOMERY
Days on Market 158
Garage Y/N No
Heating Baseboard - Electric, Forced Air, Radiant
Lot Size Square Feet 1451.00
MLS Area Norristown Boro (10613)
New Construction No
Other Structures Above Grade
Percent Ownership Fee Simple
Pool Y/N No Pool
Possession 0-30 Days CD, Settlement
Price Per Sq Ft 1359.71
Property Condition Excellent
Property SubType Other
Property Type Multi-Family
School District 300200397035
School District NORRISTOWN AREA
Sewer Public Sewer
Structure Type Detached
Tax Annual Amount 2577.0
Tax Year 2022
Total Units 4
Trash Expense 0.00
Vacation Rental Y/N No
Water Access Y/N No
Waterfront Y/N No
Zoning RESIDENTIAL
Zoning Description 10 single family, 1 Legal Triplex included in this package deal

Interior Features

Central Air Y/N No
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Electric, Natural Gas
Three Bedroom Units Count 13

Exterior Features

Living Area 1450
Foundation Details Other
Lot Dimensions Various sizes
Lot Features Additional Lot(s)
Lot Size Acres 0.03
Lot Size Source Estimated
Navigable Water Y/N No
Type of Parking Other
Water Oriented Y/N No
Water Source Public
Water View Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 19401

Price
AVG $1.32M
$1.97M
Taxes
AVG $5,502
$2,577
Visits
AVG 49
103
Year Built
AVG 1905
1911
Walkscore
AVG 85
85
Data Provided by Walkscore ® not using MLS data

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