Updated Triplex With Separate
New
For Sale
$399,900
709 GEORGE STREET, Norristown, PA 19401
Three residential units include one vacancy and two occupied apartments, plus rear parking and an attached storage shed.
Property Size2,423 SF
Days on Market6
Property Features for 709 GEORGE STREET
General Information
Standard status
Active
Size
2,423 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$1,927
Building Details
Building Size
2,423 SF
Year Built
1890
Tenancy
Multi
Listing Agency:
Homestarr Realty
(267) 242-9172
Listed By:
Gerald P Hill · License #RM421402
(267) 242-9172
Source:
Lizclarkrealestate
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 4 at 8:53AM
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 Homestarr Realty
Investment Insights
Based on property information with market context.
This triplex at 709 George Street contains three residential units: two apartments with 2 bedrooms and 1 full bath each, plus a 1-bedroom, 1-full-bath apartment. The property was recently updated, and two units are occupied while the third is vacant. The open unit can support owner occupancy or a new tenancy, subject to applicable requirements. Separate metering is provided for all utilities, including a dedicated service for the owner, simplifying utility allocation and management. The property was built in 1890 and includes rear parking, an attached storage shed, and additional street parking.
The Norristown location is near shopping, restaurants, public transportation, and major commuter routes. Walkable surroundings provide convenient access to everyday services and transportation options for residents.
The Norristown location is near shopping, restaurants, public transportation, and major commuter routes. Walkable surroundings provide convenient access to everyday services and transportation options for residents.
Key Highlights
- Three‑unit residential property with two 2‑bedroom units and one 1‑bedroom unit
- Two units occupied; one unit vacant for owner occupancy or a new tenancy
- Recently updated throughout
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 | $53.8k | $22.20 |
| − Vacancy | −$3.5k | −$1.44 |
| EGI | $50.3k | $20.76 |
| − OpEx | −$15.1k | −$6.23 |
| NOI | $35.2k | $14.53 |
2,423 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$502.9K
$440.1K – $586.8K
NOI $35,206 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$467.7K
$409.2K – $545.6K
NOI $32,736 @ 7.0% cap · market cap 8.19%
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.63M
NOI $97,561 @ 7.0% cap · market cap 24.40%
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
1,722
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 - Three residential units include one vacancy and two occupied apartments, plus rear parking and an attached storage shed.
Where is this triplex located?
The property is located at 709 GEORGE STREET Norristown, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three‑unit residential property with two 2‑bedroom units and one 1‑bedroom unit; Two units occupied; one unit vacant for owner occupancy or a new tenancy; Recently updated throughout
