Three-Unit
New
For Sale
$549,000
1020 W MAIN STREET, Norristown, PA 19401
Residential income property near shopping, dining, and major commuter routes.
Property Size2,974 SF
Days on Market3
Property Features for 1020 W MAIN STREET
General Information
Standard status
Active
Size
2,974 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,255
Building Details
Building Size
2,974 SF
Year Built
1889
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Blue Bell
(215) 480-2665
Listed By:
Cindy Marcinkowski · License #RS347703
(215) 480-2665
Source:
Lizclarkrealestate
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 4 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach-Blue Bell
Investment Insights
Based on property information with market context.
This multifamily property contains three separate residential units and was built in 1889. The configuration provides distinct living spaces within a single residential income property, with current tenants involved in an ownership transition process.
Located at 1020 W Main Street in Norristown, Pennsylvania, the property is near shopping, dining, and major commuter routes. The buyer will be responsible for U&O, while the owner will provide guidance during tenant onboarding and the transfer of ownership.
Located at 1020 W Main Street in Norristown, Pennsylvania, the property is near shopping, dining, and major commuter routes. The buyer will be responsible for U&O, while the owner will provide guidance during tenant onboarding and the transfer of ownership.
Key Highlights
- Three‑unit multifamily property
- Built in 1889
- Located at 1020 W Main Street, Norristown, PA 19401
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.0k | $22.20 |
| − Vacancy | −$4.3k | −$1.44 |
| EGI | $61.7k | $20.76 |
| − OpEx | −$18.5k | −$6.23 |
| NOI | $43.2k | $14.53 |
2,974 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.2K – $720.2K
NOI $43,212 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$574.0K
$502.3K – $669.7K
NOI $40,180 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,747 @ 7.0% cap · market cap 21.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property near shopping, dining, and major commuter routes.
Where is this triplex located?
The property is located at 1020 W MAIN STREET Norristown, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Built in 1889; Located at 1020 W Main Street, Norristown, PA 19401
