44 High StPottstown, PA 19464

Property Details for 44 High St

Year built

1900

Lot size

0.29 AC

Property size (Sq ft)

16,262 SF

Zone code

D

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

16-00-13792-00-7

APU

160013792007

Description

This fee-simple, 24-unit apartment building presents a compelling value-add opportunity in Pottstown, Pennsylvania. Located at 44 E High St, in Montgomery County, this two-story, 16,262 square foot building sits on a 12,480 square foot lot in a permitted Downtown zoning area. Currently boasting 100% occupancy, the property offers a mix of studio, one-bedroom, and two-bedroom units, each individually metered for utilities. The current Net Operating Income (NOI) is $161,001, yielding a 7.32% cap rate. However, a pro-forma NOI of $185,745 projects an 8.44% cap rate, reflecting significant upside potential through rent increases. The asking price is $2,200,000, translating to $91,667 per unit and $135.28 per square foot. This property benefits from Pottstown's ongoing revitalization, attracting new residents and businesses, and creating strong demand for rental housing. The strategic location and potential for rent growth make this a prime investment in a rapidly improving market. The building's solid construction and efficient management structure contribute to healthy cash flow and long-term appreciation potential.

• CAP approach

  CAP return

  Valuation

  6%

  $5,564,197

  6.5%

  $5,136,182

  7%

  $4,769,312

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,458,041

  Geo Method

  $3,293,429

• Alternative Use

  Use

  Valuation

  Residential

  $5,136,182

  Hospitality

  $4,704,715

  Educational

  $3,914,268

  Medical

  $4,048,885

  Retail

  $6,088,860

Location Insight

City

Pottstown

County

Montgomery

State

Pennsylvania

Latitude

40.2458

Longitude

-75.6541

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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