Tenant-Occupied
For Sale
$350,000
Pending
1105 W AIRY STREET, Norristown, PA 19401
Each residence is occupied and has separate gas and electric utilities.
Property Size2,203 SF
Days on Market52
Property Features for 1105 W AIRY STREET
General Information
Standard status
Pending
Size
2,203 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,982
Building Details
Building Size
2,203 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Michael Marchese · License #RS306072
(610) 476-4651
Source:
Lizclarkrealestate
Added: Aug 20
Changed: Oct 3
Last Checked: Oct 10 at 2:38AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This three-unit residential property was built in 1900 and is currently fully tenant occupied. The units are described as being in good condition, with separate utilities for gas and electric service. The triplex is located in Norristown, near local transportation and major roadways, providing access to established regional routes and transit options.
Key Highlights
- Triplex with all 3 units currently tenant occupied
- All units reported in good condition
- Separate gas utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,009
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,180
$640.2K
Cap Rate 7%
$457,271
$457.3K
Cap Rate 9%
$355,656
$355.7K
Market Conditions
NOI Build-Up for 2,203 SF
Gross rent
$48.9K $22.20/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$45.7K $20.76/SF
− OpEx
−$13.7K −$6.23/SF
NOI
$32.0K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,180
Cap Rate 7%
$457,271
Cap Rate 9%
$355,656
Alternative Uses
Best Use
Multifamily LT 5
$457.3K
$400.1K – $533.5K
NOI $32,009 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$425.2K
$372.0K – $496.1K
NOI $29,763 @ 7.0% cap · market cap 8.50%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,703 @ 7.0% cap · market cap 25.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
755
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence is occupied and has separate gas and electric utilities.
Where is this triplex located?
The property is located at 1105 W AIRY STREET Norristown, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex with all 3 units currently tenant occupied; All units reported in good condition; Separate gas utilities for each unit
