1223 W MAIN ST

Sold on 11/1/2017
  • -- Beds
  • -- Baths
  • 2248 sqft
  • Residential Income | Semi-Detached
  • Closed
1223 W MAIN ST, NORRISTOWN - 40919229

Property Description for 1223 W MAIN ST, NORRISTOWN PA 19401

This great investment property is on a highly visible corner of W. Main Street across from the CVS. The property has an appealing gross rent multiplier and impressive cap rate for any investor who wants to purchases this property and rent out both the first floor storefront and apartment. The property is zoned as commercial and the first floor is currently a successful hair salon. The salon is very well maintained and would take minimal change to make it your own for a quick opening of your business. The first floor provides an open concept with plenty of windows and natural light. It has additional space in the back, which can be used for clients, customers or as a private office. There is also a waiting area and additional space for possible merchandise or a private office as well as a half bath. The exterior is well maintained and provides five off street parking spaces as well as ample on street parking. The layout could also provide many possibilities for other business such as a nail salon, offices, restaurant or many other possibilities which may be confirmed with the city. A business owner can choose to live upstairs to eliminate their commute or rent for additional cash flow. The upstairs is currently owner occupied however has been previously rented for 1,200 dollars a month. The upstairs has a private entrance with two bedrooms, two full baths, a living room, eat-in kitchen and a newly updated oversized deck. The basement is partially finished offering additional space for client meetings or an employee lounge while the unfinished portion provides a laundry area and additional storage. The business and apartment are currently sharing the utilities being owner occupied however they have separate meters and can be easily converted back eliminating any common area gas and electric expenses. The water and sewer are paid by owner as they are tied together however can be reduced drastically as the salon uses more water then average. This property has many possibilities and with low holding costs is worth a look for any investor or business owner looking for a new location on a highly visible corner in Norristown. Refer to Residential MLS 6944853 for additional information on room dimensions and potential uses.

  • Property Class: Multi-Family
  • Listing Status: Closed
  • State: PA
  • Zip: 19401
  • Area: Norristown Boro
  • Class: Residential Income
  • Property Subtype: Semi-Detached
  • Approx Lot Size: 0.090
  • Baths (F/H): -- / --
  • Living Area (SqFt): 2248 sqft
  • Lot Sq Ft Apx: 4000.00
  • Year Built: 1901
  • Listing#: 6944828
  • School District: Norristown
  • Tax Year: 2018
  • Close Date: 4/16/2018
  • List Date: 3/15/2017
  • Last updated on: 7/22/2018

Property Features for 1223 W MAIN ST, NORRISTOWN PA 19401

  • Basement Type: Full, Unfinished
  • Exterior: Vinyl Siding, Brick
  • Property Age: 117
  • Garage Spaces: Nogarage
  • Laundry Type: Washerinunit, Dryerinunit, Hookuplaundr, Yeslaundry
  • Sewer Septic: Public Sewer
  • Cooling: Central A/C
  • Entrance: Foyer, Privateentr, Commonentr, Keyedentr
  • Handicap: None
  • Hot Water: Natural Gas
  • Water: Public
  • Design: Duplex
  • Exterior Features: Sidewalks, Streetlights
  • Heating: Gas, Radiator
  • Parking: 5-7Carparkng, Street, Parkinglot, Private

Additional Information for 1223 W MAIN ST, NORRISTOWN PA 19401

  • School District: Norristown
  • High School: Norristown
  • Annual Gross Income: 29400.00
  • Annual Gross Expense: 6890.00
  • Annual Insurance Expense: 575.00
  • Annual Maint Expense: 936.00
  • Basement: True
  • Building Floors: 3.00
  • Central Air: True
  • Exclusion Remarks: All Salon Equipment Is Negotiable
  • Lot Dimensions: 25
  • Lot Number: 017
  • New Construction: False
  • Ownership: Fee Simple
  • Total Assessment: 76260.00
  • Water Front: False
  • Partial Bath Unit1: 1
  • Room Unit1: 5
  • Unit1 Lease End: Commercial Zoned
  • Unit1 Monthly Rent: 1250.00
  • Beds Unit2: 2
  • Baths Full Unit2: 2
  • Room Unit2: 4
  • Unit2 Lease End: Owner Occupied
  • Unit2 Monthly Rent: 1200.00
  • Total Taxes: $4,151
  • Listing Area: Norristown Boro
  • Subdivision: None Available
  • Listing ID: 6944828
Courtesy of Keller Williams Realty Group
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