Thank you
James J Romano
Keller Williams Real Estate-Blue Bell
215-646-2900
Optimal investment opportunity situated in a heavily traveled and busy business district of East Norriton Township! This 3-story multi-use property has been meticulously maintained by a long-time owner. The first-floor unit houses the hair salon/clinic and is an established business in the area. The unit features a reception area, a waiting area, spacious workstations, two therapy rooms, a private office, a kitchenette, and access to a full basement with plenty of storage space. The current owner’s wife owns and operates the salon business and would like to lease the space from the new owner to continue operating the business. Move upstairs from the rear and enter the bi-level residential apartment, which is currently leased for $1,200/month until September 30th, 2024. Comparable rentals in the area have been leased in the $1700-2000 per month range. The main floor of the unit offers an updated kitchen, a comfortable living room with a gas fireplace, wall-to-wall carpeting, and access to the huge back deck. Finishing off the main floor is a convenient half bathroom. The top floor shows off a sizable bedroom with a vaulted ceiling and skylight. Two additional bedrooms also have a skylight and ample closet space, and a full bathroom completes the level. Other features of the apartment include a washer/dryer, and ceiling fans in all living spaces. Both units have all separate utilities. Parking is easy with 12 parking spaces (two parking spaces are dedicated to the residential apartment). The property is strategically located close to major shopping areas, banks, hospitals, apartment buildings, and residential areas. Easy access to Schuylkill Expressway, rt 202, and PA Turnpike. Looking to the future, the potential cash flow is significant. With the current owners leasing the salon, and the apartment being leased at current market value come September under new ownership, the cap rate stands to potentially reach an impressive 6.5-7%. This building is a cash flow machine and will be a great addition to any investor's portfolio!
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Water Source : Public
Patio/Porch Features: Deck(s)
Ceiling Fan(s),Carpet,Crown Moldings,Kitchen - Eat-In,Kitchen - Island,Recessed Lighting
Basement Description: Full
Property Appliances: Washer,Dryer
Cooling: Central A/C
Heating: Forced Air
Cooling Fuel: Electric
Heating Fuel: Natural Gas
Year Built: 1930
Structure: Detached
Fireplace: 1
Major Appliances: Washer,Dryer
New Construction: No
Total Units: 2
Built: 1930
Construction Material: Brick,Stucco,Vinyl Siding
Foundation/Basement: Concrete Perimeter
Architecture: Other
Pool/Private: No Pool
Pool: No Pool
Sewer: Public Sewer
Water Heat: Natural Gas
Lot Size: 10,300
Dimensions: 69.00 x 0.00
Lot Size (Acres): 0.24
Architectural Style: Other
Stories Total: 3
Main Square Feet: 10,300
SQ ft: 3,800
SQ ft (Living Area): 3,800
Total Lot SQ ft: 10,300
Financing: Cash,Conventional,FHA,VA
Appx. Lot Dimensions: 69.00 x 0.00
Total Acreage: 0.24
New Construction: No
Type: Other
Possession: Negotiable
Days Of Market: 30
Annual Tax: $8,112
Tax Year: 2022
Total Taxes Payment Frequency: Annually
Negotiable
Taxes Assessment Amount: $174,240
Parking Type: Parking Lot
Has Garage: N
Acceptable Financing: Cash,Conventional,FHA,VA
Direction: Belvoir Rd. & Rt. 202-S, merge onto Ridge Pike, to R on Belvoir Rd., L on Plymouth Rd., follow SR 3017, to US-202S, to property on right.
School District: NORRISTOWN AREA
Total Fire Place: 1
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: Electric
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Direction: Belvoir Rd. & Rt. 202-S, merge onto Ridge Pike, to R on Belvoir Rd., L on Plymouth Rd., follow SR 3017, to US-202S, to property on right.
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1651 Markley Street , Norristown, PA,19401 | $264,900 | 2 | 2.0 | -- | -- |
THE SUMMERSIDE - Honey .., Norristown, PA,19401 | $439,990 | 3 | 2.5 | -- | 900 Sqft |
THE SUTTON - Honey Lane , Norristown, PA,19401 | $424,990 | 3 | 2.5 | -- | 900 Sqft |
THE SURREY - Honey Lane , Norristown, PA,19401 | $394,990 | 3 | 2.5 | -- | 900 Sqft |
1228 W Lafayette Street , Norristown, PA,19401 | $249,900 | 3 | 1 | -- | 1900 Sqft |
140 W Main St , Norristown, PA,19401 | $349,900 | -- | -- | -- | 2356 Sqft |
105 W Wood Street , Norristown, PA,19401 | $319,900 | 5 | 2 | -- | 2880 Sqft |
224 Honey Lane , Norristown, PA,19401 | $430,615 | 3 | 2.5 | -- | 1000 Sqft |
311 Haws Avenue , Norristown, PA,19401 | $495,000 | -- | -- | -- | 4368 Sqft |
418 W Airy Street , Norristown, PA,19401 | $250,000 | -- | -- | 2,352 | 2336 Sqft |
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ByOwner last updated this listing 04/29/2024 @ 00:07
MLS: PAMC2098244
LISTED BY: James J Romano , Keller Williams Real Estate-Blue Bell
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.