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Key Details
Sold Price $240,000
Property Type Single Family Home
Sub Type Twin/Semi-Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,936 sqft
Price per Sqft $123
Subdivision Brandywine River
MLS Listing ID PAMC2016190
Sold Date 01/10/22
Style Other
Abv Grd Liv Area 1,936
Originating Board BRIGHT
Year Built 1860
Annual Tax Amount $3,713
Tax Year 2021
Lot Size 2,261 Sqft
Acres 0.05
Lot Dimensions 19.00 x 0.00
Property Description
OFFERS DUE Tues the 16th at Noon! Incredible, reliable ROI from clean Norristown duplex. Higher rent than many triplex properties but with minimal maintenance. Unit 1 - 1st floor is 1 bed, 1 bath apartment that was just renovated. Rear entrance. Sunny front bedroom with two closets, living room, large eat-in kitchen and full bath - all just redone. Unit 2 - Second and third floors make up the second unit with front and rear entrance. Second floor has large living room, middle bedroom with closet, full bathroom, and rear kitchen. Top floor has three additional bedrooms. This unit is currently occupied by a long term, Section 8 tenant (guaranteed rent) who has a fabulous rental history. $1651 a month, currently month to month. Downstairs unit used to be rented by another long term tenant for $950, also Section 8. After renovation, this unit could easily rent for $1000 through the same program. A clean sizeable yard out back leading to well-sized garage. The garage is currently rented for $60/mo, on a month-to-month basis but could also be rented for more. Assumed monthly rent of at least $2700 and minimal expenses means this property could easily get a cap rate of 10 or 11. Fully rented, this could potentially provide a 20-22% annual ROI! Could also be a good “house-hacking” opportunity for someone to live in the downstairs unit and have the upstairs one pay to cover the mortgage. What's more, the seller has done numerous repairs on the property and will take care of all Use and Occupancy requirements before settlement. Amazing opportunity!
Location
State PA
County Montgomery
Area Norristown Boro (10613)
Zoning R2
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Radiant, Steam
Cooling None
Flooring Carpet, Engineered Wood, Vinyl
Fireplace N
Window Features Replacement
Heat Source Oil
Exterior
Parking Features Additional Storage Area
Garage Spaces 1.0
Water Access N
Roof Type Flat
Accessibility None
Total Parking Spaces 1
Garage Y
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Norristown Area
Others
Tax ID 13-00-18932-009
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Elena C Groves • Advantage Real Estate Services
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Nathan Labish
Real Estate Agent | License ID: 0225271116
Real Estate Agent License ID: 0225271116