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Simit Patel

simitsellsnj@gmail.com +1(856) 220-0927

$ 550,000

Est. payment | -/mo

2,106 SqFt

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$ 550,000

Est. payment | -/mo

Save Virtual Tour

2,106 SqFt

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Twin/Semi-Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,106 sqft

Price per Sqft $261

Subdivision Norristown

MLS Listing ID PAMC2117474

Style Side-by-Side

Abv Grd Liv Area 2,106

Originating Board BRIGHT

Year Built 1900

Annual Tax Amount $2,327

Tax Year 2023

Lot Size 2,106 Sqft

Acres 0.05

Lot Dimensions 20.00 x 0.00

Property Description

A unicorn turn key property in Norristown bringing in excellent rental income for any investor. RARE, 7 BEDROOM, updated rooming house, fully occupied with clean U&O. Due to the local zoning regulations it is almost impossible to obtain a license for a new rooming house, or group home unless you find one that is already licensed and grandfathered in. This is your chance to own one of the few legal rooming houses in Norristown. The house can be kept as-is, fully rented and already bringing in great monthly income, or use as a group home, veteran home, the opportunities are endless. Seller will take full responsibility for all use and occupancy requirements. Certificate of occupancy to be provided at closing. Building is fully occupied and already bringing in $5,600 per month at over a 9% CAP rate!! This is your chance to own this turn key, one of a kind property and start collecting rent checks immediately!

Location

State PA

County Montgomery

Area Norristown Boro (10613)

Zoning R2

Rooms

Basement Unfinished

Interior

Hot Water Natural Gas

Heating Radiant

Cooling None

Fireplace N

Heat Source Natural Gas

Exterior

Waterfront N

Water Access N

Accessibility None

Garage N

Building

Foundation Stone

Sewer Public Sewer

Water Public

Architectural Style Side-by-Side

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Norristown Area

Others

Tax ID 13-00-29572-007

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Financing Cash,Conventional,FHA

Special Listing Condition Standard

Listed by Michael J Marchese • Coldwell Banker Realty

+1(856) 220-0927

simitsellsnj@gmail.com

Moorestown, NJ, 08057, United States

212 PEARL ST Norristown, PA 19401