201 Chestnut StNorristown, PA 19401

Property Details for 201 Chestnut St

Year built

1899

Lot size

0.04 AC

Property size (Sq ft)

2,272 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a meticulously maintained five-unit apartment building situated in Norristown, Pennsylvania. The property, located at 201 E Chestnut St, 19401, comprises two buildings on a 0.04-acre lot, totaling 2,272 square feet. Built in 1899 and extensively renovated in 2023, this property boasts a strong financial performance, with a Net Operating Income (NOI) of $46,505, resulting in a 7.15% capitalization rate. The asking price is $650,000, translating to $130,000 per unit. The property features four units within a newly painted building and an attached house, all situated on a single tax parcel (APN: 13-00-08652-002). Four of the units have undergone recent upgrades, including updated kitchens and bathrooms with new countertops, flooring, cabinets, and backsplashes. Currently fully leased, the property generates a monthly income of $5,080. Its prime location offers convenient access to shopping, schools, parks, places of worship, and public transportation. The permitted zoning is 1108 Res, reflecting its residential use. This is a turnkey investment opportunity with significant potential for future growth and strong cash flow. All showings require 4 hours' advance notice. A lockbox with keys to each unit is located at the main entrance of the four-unit building on Green Street.

Location Insight

City

Norristown

County

Montgomery

State

Pennsylvania

Latitude

40.1172

Longitude

-75.3389

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