Listed By:
Springer Realty Group; (484) 498-4000
157 W Elm Street, Norristown, PA
$ 220,000
Property Attributes
  • MLS#PAMC2036552
  • TypeMulti-Family
  • MunicipalityNORRISTOWN BORO
  • CityNorristown
  • AreaNorristown Boro
  • Zip19401
  • StyleColonial
  • Year Built1910
  • Taxes$ 2324
  • Price$ 220,000
  • Bedrooms33
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size871 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)

High School
Norristown Area High School
Price History
5/11/2022 Listed $220,000

General Features

Acceptable Financing FHA, Cash, Conventional, VA, FHA 203(k)
Accessibility None
Architectural Style Colonial
Construction Materials Brick, Masonry
Cool Fuel Electric
Cooling Ceiling Fan(s)
Days on Market 145
Garage Y/N No
Heating Forced Air
Lot Size Square Feet 791.00
MLS Area Norristown Boro (10613)
New Construction No
Other Structures Above Grade, Below Grade
Percent Ownership Fee Simple
Pool Y/N No Pool
Possession 0-30 Days CD, Settlement
Price Per Sq Ft 122.02
Property SubType Triplex
Property Type Multi-Family
School District 300200397035
Sewer Public Sewer
Structure Type End of Row/Townhouse
Subdivision Name NONE AVAILABLE
Tax Annual Amount 2324.0
Tax Lot 44
Tax Year 2022
Total Units 3
Vacation Rental Y/N No
Water Access Y/N No
Waterfront Y/N No
Zoning R2

Interior Features

Central Air Y/N No
Heating Fuel Natural Gas
Heating Y/N Yes
Hot Water Natural Gas
Three Bedroom Units Count 11

Exterior Features

Living Area 1803
Foundation Details Stone
Lot Dimensions 17.00 x 106.00
Lot Features Additional Lot(s)
Lot Size Acres 0.02
Lot Size Source Assessor
Navigable Water Y/N No
Off Street - # Of Spaces 1
Total Parking Spaces 1
Type of Parking Off Street, On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No


  • 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

AVG $1.32M
AVG $5,502
AVG 49
Year Built
AVG 1905
AVG 85
Data Provided by Walkscore ® not using MLS data

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