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Map
$223,731*
●
Multifamily -
Off Market
157 W ELM STREET
NORRISTOWN, PA 19401
Studio
0 Bath
1803 Sqft
$198,000 - $240,000
Reference Base Price*
1.74%
Since May 1, 2023
National-US
Primary Model
About This Property
Package purchase price is $1,971,579. See mls# PAMC2036110
for complete package listing. 10 single family houses and a triplex
(3 2 bedroom units each with a bathroom) with an onsite laundromat
100% occupied, being sold as a $1,971,579 package deal ONLY. Leases
are NOT month to month. 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)
The manager has listed the unit size as 1803 square feet.
The manager has listed the unit size as 1803 square feet.
Unit Size
1,803Ft²
Days on Market
-
Land Size
0.02 acres
Price per sqft
$122
Property Type
Multifamily
Property Taxes
$198
HOA Dues
-
Year Built
1910
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Apr 27, 2023 | No longer available | - | |
No longer available | |||
Jan 19, 2023 | Price Decreased |
$219,900
↓ $100
(0.1%)
|
|
Price Decreased | |||
May 11, 2022 | Listed | $220,000 | |
Listed | |||
Feb 8, 2006 | Sold | $134,500 | |
Sold |
Property Highlights
Interior Details
Basement Information
Basement
Exterior Details
Exterior Information
Brick
Masonry
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Active
Townhouse
5
Beds
1
Bath
1,770 ft²
$101/ft²
$179,000
Feb 17, 2023
-
$149/mo
In Contract
Townhouse
3
Beds
1
Bath
1,696 ft²
$141/ft²
$239,900
Jan 4, 2023
-
$362/mo
Active
Townhouse
5
Beds
1
Bath
1,450 ft²
$148/ft²
$214,900
May 12, 2022
-
$185/mo
In Contract
House
3
Beds
1
Bath
962 ft²
$197/ft²
$189,900
Feb 14, 2023
-
$378/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
04/28/2022
|
|
Studio
|
-
|
1450 ft²
|
$1,971,579
Studio
-
1450 ft²
|
-
-
|
-
|
Gregory Martire
Springer Realty Group
|