44 High St Pottstown, PA 19464-5427

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.