For Sale
$2,200,000

44 High StPottstown, PA 19464

High-yield multifamily investment in revitalizing Pottstown.

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple, 24-unit apartment building presents a compelling value-add opportunity in Pottstown, Pennsylvania. Located at 44 E High St, in Montgomery County, this two-story, 16,262 square foot building sits on a 12,480 square foot lot in a permitted Downtown zoning area. Currently boasting 100% occupancy, the property offers a mix of studio, one-bedroom, and two-bedroom units, each individually metered for utilities. The current Net Operating Income (NOI) is $161,001, yielding a 7.32% cap rate. However, a pro-forma NOI of $185,745 projects an 8.44% cap rate, reflecting significant upside potential through rent increases. The asking price is $2,200,000, translating to $91,667 per unit and $135.28 per square foot. This property benefits from Pottstown's ongoing revitalization, attracting new residents and businesses, and creating strong demand for rental housing. The strategic location and potential for rent growth make this a prime investment in a rapidly improving market. The building's solid construction and efficient management structure contribute to healthy cash flow and long-term appreciation potential.

Highlights

  • 24-unit apartment building with a mix of studio, one-bedroom, and two-bedroom units.
  • Fee-simple ownership in a permitted Downtown zoning area of Pottstown, PA.
  • 16,262 square feet on a 12,480 square foot lot; currently 100% occupied.
  • $2,200,000 asking price ($91,667 per unit, $135.28 per square foot).
  • Current NOI of $161,001 (7.32% cap rate); pro-forma NOI of $185,745 (8.44% cap rate) with rent increase potential.

Property Details for 44 High St

Property type
Apartment buildings
Square Feet
16,262 SF
Class
C
Buildings
1
Stories
2
Units
24

Location Insight

City
Pottstown
County
Montgomery
State
Pennsylvania
Latitude
40.2456878
Longitude
-75.6541178
44 High St, Pottstown, Pennsylvania

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44 High St
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