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Property profile & analytics
OFF-MARKET
Estimated value
$1,855,000
Apartment buildings
1790 Locust St Norristown, PA 19401-3079
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US73-1750559
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Total area
15,870 SF
Lot
0.44 ac (19,011 SF)
Zoning code
R1A
APN
13-00-20712-00-2
UPID
US73-1750559
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tornetta Apartments Apartment Building
-
Norris Hills at Locust Street Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.86M
Owner & transaction history
Norris Hills Apts Ltd Ptshp · 8 yrs held
Norris Hills Apts Ltd Ptshp
since 2018
7 recorded transactions
Zoning & alternative use
R1A · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+20.7%
Medical building
$2.5M
+9.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,290,000
Current use
OFFICE BUILDING
$2,765,000
Change: +21% · Conversion: Moderate
MEDICAL BUILDING
$2,500,000
Change: +9% · Conversion: Moderate
RESTAURANT
$2,230,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,070,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.86M
Range $1.67M – $2.04M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$117 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$34,955
Tax year 2023
Assessed value
$569,450
Assessed 2024
Previous assessed
$569,450
+0.0% YoY
Effective rate
6.14%
On assessed value
Assessed land
$65,500
Assessed improvement
$503,950
Land market value
$65,500
Improvement market value
$503,950
Total market value
$569,450
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1965
Heating
HOT WATER
Cooling
WINDOW A/C
Stories
3
Units
18
Total area
15,870 SF
Lot
0.44 ac (19,011 SF)
Zoning code
R1A
APN
13-00-20712-00-2
UPID
US73-1750559
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
R1A · Norristown, PA
Zoning R1A · permitted uses
R1A · Norristown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.5M
RESTAURANT
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
18
Lot
0.44 ac
Current owner
From public records · entity-resolved
Norris Hills Apts Ltd Ptshp
Individual
Mailing address
PO BOX 609, SOUTHEASTERN, PA 19399-0609
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2018
—
Norris Hills Apts Ltd Ptshp
Norris Hills Apartments Ltd
Quit Claim Deed
related
$2,700,000 · Santander Bk NA
Dec 5, 2012
—
Norris Hills Apartments Ltd Pt
—
Deed Of Trust
related
$14,475,000 · Sovereign Bank
Jun 1, 2012
$844,720
Norris Hills Apt LP
Keeney,robert L & Patricia A
Grant Deed
—
—
—
Robert L Keeney
—
Deed Of Trust
related
$400,000 · Pnc Bank
—
—
Robert L Keeney
—
Deed Of Trust
related
$385,434 · First Niagara Bank
—
—
Robert L Kenney
—
Deed Of Trust
related
$400,000 · Progress Bank
—
—
Robert Kenney
—
Deed Of Trust
related
$50,000 · Progress Bank
—
—
Robert L Keeney
—
Deed Of Trust
related
$400,000 · Pnc Bank
—
—
Robert Keeney
—
Deed Of Trust
related
$25,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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