Five Or More Units For Sale - 315 W FORNANCE ST, NORRISTOWN, PA 19401

315 W FORNANCE ST, NORRISTOWN, 19401, PA

Explore this Property

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.

MLS# PAMC2196844

Springer Realty Group

Active For Sale Commercial

$524,900

Five Or More Units

1920 Year built

15 days on market

Property Features

Roof

Shingle

Type

CRE

Acres

0.1

Style

Apartment Building

Cooling

Window Unit(s)

Heating

Baseboard - Electric

Flooring

Carpet,Wood,Vinyl

Foundation

Concrete Perimeter,Brick/Mortar

Sub Type Text

Five Or More Units

Subdivision

NORRISTOWN

Construction

Aluminum Siding,Brick

Accessibility

None

Lot Size Area Units

Square Feet

Location

Directions: To get to 315 W Fornance St from central Norristown, start by heading north on Powell Street toward West Wood Street. From Powell Street, make a left turn onto West Wood Street, then take your next right onto North Markley Street (PA-202 North) Continue briefly on North Markley Street and turn right onto West Fornance Street. Proceed down W Fornance Street for approximately one block, and the destination at 315 W Fornance Street will be located on your left.

Market Area: Norristown Boro (10613)