Investments Sales Management

Other, Traditional, Colonial

601 W MAIN STREET

NORRISTOWN , PA 19401

MLS#: PAMC2064220

$410,000

Status: Closed
Listing number: PAMC2064220
Listing provided by: RE/MAX Ready
Listing agent phone: None
Last update: 2 years ago
On site: 2 years ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1900

Sq.Footage

3,038

Welcome to 601 W Main St - a mixed-use building located in rapidly developing, red hot Downtown Norristown. Get in now and take advantage of this economic change. This large corner building currently features 4 efficiency apartments, a former dental office, a large attic space (could be a 2 bedroom or large 1 bedroom unit) and detached garage. All 4 apartments are occupied and tenants would prefer to stay if possible (3 are on a month to month basis). The detached garage is currently rented at $125/month. All the leases are below current market values. Currently the owner pays heat, water and sewer. If the office is rented as is, the building would be operating at an estimated 9% cap rate, with room for increased rents or potential conversation of office to residential. Great return in this market!! The office space has been fully rewired and does have AC. The boiler for the building is brand new (2023) and the chimney was recently certified. Two of the apartments have their own entrances. Don't hesitate on this cash cow with considerable future potential. A welcome addition to any Investment Portfolio.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Above Grade Finished Area

    3038.0

  • Cooling YN

    YES

  • Cooling

    Central Air, Window Unit(s)

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Stucco, Frame, Brick

  • Parking

    On Street, Detached

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Features

    Corner Lot

  • Lot Size(acres)

    0.13

  • Property Type

    Residential Income

  • Property Sub Type

    Quadruplex

  • Architectural Style

    Other, Traditional, Colonial

Price

  • Sales Price

    $410,000

  • Tax Amount

    6889.0

  • Zoning

    1160 Mix: Res/Comm Non-Conforming Mixed Res/Comm

  • Sq. Footage

    3, 038

  • Price/SqFt

    $134

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    NORRISTOWN

Property Features

  • Foundation Details

    Slab, Block, Stone

  • Sewer

    Public Sewer

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Location

County

MONTGOMERY

Elementary School

Middle School

High School

NORRISTOWN

Listing Courtesy of William J Howlett , RE/MAX Ready

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Agent TheresaKehler

Owner, President, Investment Property Advisor

TheresaKehler

Call Theresa today to schedule a private showing.

(215) 605-9647

theresa@tntrealestatesolutions.com


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Welcome to 601 W Main St - a mixed-use building located in rapidly developing, red hot Downtown Norristown. Get in now and take advantage of this economic change. This large corner building currently features 4 efficiency apartments, a former dental office, a large attic space (could be a 2 bedroom or large 1 bedroom unit) and detached garage. All 4 apartments are occupied and tenants would prefer to stay if possible (3 are on a month to month basis). The detached garage is currently rented at $125/month. All the leases are below current market values. Currently the owner pays heat, water and sewer. If the office is rented as is, the building would be operating at an estimated 9% cap rate, with room for increased rents or potential conversation of office to residential. Great return in this market!! The office space has been fully rewired and does have AC. The boiler for the building is brand new (2023) and the chimney was recently certified. Two of the apartments have their own entrances. Don't hesitate on this cash cow with considerable future potential. A welcome addition to any Investment Portfolio.

601 W MAIN STREET

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