Multifamily Property with High
New
For Sale
$4,919,400
1321 REDWOOD LANE, Norristown, PA 19401
A 12,000-square-foot multifamily property with central air, natural gas, and electric water heating.
Property Size12,000 SF
Price / SF$409.95
Days on Market4
Property Features for 1321 REDWOOD LANE
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Residential Income
Zoning
R
Net Operating Income
$412,101
Taxes and HOA fees
Annual Taxes
$49,439
Amenities
Central Air, Electric
Natural Gas, Central
Electric Water Heater
High Ceilings
Other
Building Details
Building Size
12,000 SF
Year Built
1960
Listing Agency:
Springer Realty Group
Listed By:
Gregory Martire · License #RS225353L
(484) 997-8068
Source:
Evrealestate
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 25 at 1:59PM
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 Springer Realty Group
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Investment Insights
Based on property information with market context.
Built in 1960, this multifamily property contains 12,000 square feet and features high ceilings. Interior systems include central air, natural gas, and an electric water heater.
The property is located in Norristown, Montgomery County, Pennsylvania, and is zoned R.
The property is located in Norristown, Montgomery County, Pennsylvania, and is zoned R.
Key Highlights
- 12,000 square feet of multifamily property
- Built in 1960
- High ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,124
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,242,480
$3.2M
Cap Rate 7%
$2,316,057
$2.3M
Cap Rate 9%
$1,801,378
$1.8M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$313.9K $26.16/SF
− Vacancy
−$19.1K −$1.60/SF
EGI
$294.8K $24.56/SF
− OpEx
−$132.6K −$11.05/SF
NOI
$162.1K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,242,480
Cap Rate 7%
$2,316,057
Cap Rate 9%
$1,801,378
Alternative Uses
Best Use
Apartment 5plus
$2.32M
$2.03M – $2.70M
NOI $162,124 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.90M
$6.04M – $8.05M
NOI $483,177 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A 12,000-square-foot multifamily property with central air, natural gas, and electric water heating.
Where is this multifamily property located?
The property is located at 1321 REDWOOD LANE Norristown, PA.
What is the asking price?
The asking price for this property is $4,919,400.
What are key features of this property?
This property features: 12,000 square feet of multifamily property; Built in 1960; High ceilings
