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315 W Fornance St, Norristown, PA 19401

$524,900
: 2,630
SqFt

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List Price: $524,900
Status: ACTIVE
MLS#: PAMC2195682
Living Area: 2,630
Lot Size (Acres): 0.1
Style: Traditional
Year Built: 1920
County: Montgomery
School District: Norristown Area

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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.

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Additional Information

Area: Norristown Boro (10613)
Subdivision: Norristown
School District: Norristown Area
Elementary School: Hancock
Middle School: Eisenhower
High School: Norristown Area
Flooring: Carpet, Wood, Vinyl
Heating: Electric Baseboard
Cooling: None
Roof: Shingle
Water: Public
Sewer: Public Sewer
Basement: Full