201 E Chestnut St | 201 E Chestnut St
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201 E Chestnut St 201 E Chestnut St
5 Unit Apartment Building $650,000 ($130,000/Unit) 7.20% Cap Rate Norristown, PA 19401
Investment Highlights
- Proximity to shopping and transportation
Executive Summary
Don't miss out on this excellent opportunity to own a 5-unit investment property with tons of original detail.
The property consists of a 4 unit newly painted building and an attached house on one tax parcel. It's fully leased with current monthly income of $5080.00. Property is conveniently located only blocks from shopping, schools, parks, houses of worship, and transportation. 4 units have updated kitchens and bathrooms, including counter tops, flooring, cabinets and back splashes. CAP rate equals 7.2%.
Four hour notice required for showings to allow tenants to be notified.
The property consists of a 4 unit newly painted building and an attached house on one tax parcel. It's fully leased with current monthly income of $5080.00. Property is conveniently located only blocks from shopping, schools, parks, houses of worship, and transportation. 4 units have updated kitchens and bathrooms, including counter tops, flooring, cabinets and back splashes. CAP rate equals 7.2%.
Four hour notice required for showings to allow tenants to be notified.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$60,960
|
$26.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,960
|
$26.83
|
| Taxes |
$4,025
|
$1.77
|
| Operating Expenses |
$6,212
|
$2.73
|
| Total Expenses |
$10,237
|
$4.51
|
| Net Operating Income |
$50,723
|
$22.33
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $60,960 |
| Annual Per SF | $26.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,960 |
| Annual Per SF | $26.83 |
| Taxes | |
|---|---|
| Annual | $4,025 |
| Annual Per SF | $1.77 |
| Operating Expenses | |
|---|---|
| Annual | $6,212 |
| Annual Per SF | $2.73 |
| Total Expenses | |
|---|---|
| Annual | $10,237 |
| Annual Per SF | $4.51 |
| Net Operating Income | |
|---|---|
| Annual | $50,723 |
| Annual Per SF | $22.33 |
Property Facts Under Contract
| Price | $650,000 | Apartment Style | Low Rise |
| Price Per Unit | $130,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 7.20% | Building Size | 2,272 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1899 |
| Property Subtype | Apartment |
| Price | $650,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 2,272 SF |
| No. Stories | 3 |
| Year Built | 1899 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Range
- Freezer
Site Amenities
- 24 Hour Access
- Recycling
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $915.00 | - |
| 2+1 | 3 | $1,075 | - |
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Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 13-00-08652-002 | Total Assessment | $65,750 |
| Land Assessment | $0 | Annual Taxes | $4,025 ($1.77/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
13-00-08652-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$65,750
Annual Taxes
$4,025 ($1.77/SF)
Tax Year
2024
zoning
| Zoning Code | R2 (Land Use Code 1108) |
| R2 (Land Use Code 1108) |
-
Robert Marshall -
Cheryl Newton -
Berkshire Hathaway Fox & Roach Realtors
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201 E Chestnut St | 201 E Chestnut St
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