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Norristown Multifamily Portfolio 18 biens • À vendre 14 931 001 $ CAD • Emplacements multiples
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Value-Add Potential: Opportunity to Increase Rents 10% to 20% with Minor Upgrades to Kitchens and Baths
- Accessibility: Easy Access to King of Prussia, Plymouth Meeting, and Center City Philadelphia via U.S. Routes 202 and 422, I-476 & I-276
- Local Amenities: Einstein Medical Center Montgomery, the Montgomery County Courthouse, Elmwood Park Zoo, Numerous Community Offices, Parks & More
- Strong Unit Mix: (1) Commercial Unit, (3) Rooms, (5) Studios, (34) One-Bedroom, (16) Two-Bedroom, & (2) Three-Bedroom Apartment Units
- Public Transit: SEPTA’s Norristown Transportation Center is Nearby, Offering SEPTA Regional Rail (Manayunk/Norristown Line) & Bus Routes
RÉSUMÉ DE L'ANNONCE
Global Real Estate Advisors (GREA) is pleased to present the opportunity to acquire the fee simple interest in the Downtown Norristown Portfolio, a strategically located collection of 82 apartment units and 1 commercial unit across 20 properties concentrated in Norristown and Bridgeport, Pennsylvania. The Portfolio is currently 97% occupied, demonstrating consistent demand and stable cash flow. With strong historical occupancy and steady rental performance, the Portfolio represents an exceptional value-add investment opportunity in a growing suburban submarket of the Greater Philadelphia Region.
The Portfolio benefits from excellent proximity to Norristown’s commercial corridor, the Norristown Transportation Center (offering access to SEPTA regional rail and bus service), and major thoroughfares including Route 202, Route 422, and the Pennsylvania Turnpike. Bridgeport assets also enjoy access to nearby transit and retail amenities, and both submarkets continue to benefit from spillover demand from Conshohocken and King of Prussia, two of the Region’s strongest employment nodes.
Constructed in the early 20th century with consistent updating over the years, the Portfolio features an attractive unit mix including studios, one-, two-, and three-bedroom layouts, with over 30% of units featuring two or more bedrooms. The assets are a mix of walk-up multifamily buildings and subdivided single-family properties, most of which are situated within proximity to one another, offering efficient management and maintenance. Current ownership has kept the Properties well-maintained, with many units having received light-to-moderate renovations. Several units still offer the potential for interior upgrades, which would allow new ownership to capture rent premiums already supported by nearby comparable properties. The average in-place rent across the Portfolio is $1,372 per unit, with a notable upside across the Portfolio as the rents are currently below market.
The Downtown Norristown Portfolio presents the opportunity to acquire immediate scale in one of Suburban Philadelphia’s most supply-constrained rental markets. With operational efficiencies due to geographic clustering and proven rent growth, the Portfolio is well-positioned to benefit from continued suburban migration and constrained housing supply. This offering represents a stabilized, well-diversified, and income-producing multifamily Portfolio with clear potential for upside through interior improvements, operational streamlining, and organic rent growth in an increasingly desirable Montgomery County submarket.
The Portfolio benefits from excellent proximity to Norristown’s commercial corridor, the Norristown Transportation Center (offering access to SEPTA regional rail and bus service), and major thoroughfares including Route 202, Route 422, and the Pennsylvania Turnpike. Bridgeport assets also enjoy access to nearby transit and retail amenities, and both submarkets continue to benefit from spillover demand from Conshohocken and King of Prussia, two of the Region’s strongest employment nodes.
Constructed in the early 20th century with consistent updating over the years, the Portfolio features an attractive unit mix including studios, one-, two-, and three-bedroom layouts, with over 30% of units featuring two or more bedrooms. The assets are a mix of walk-up multifamily buildings and subdivided single-family properties, most of which are situated within proximity to one another, offering efficient management and maintenance. Current ownership has kept the Properties well-maintained, with many units having received light-to-moderate renovations. Several units still offer the potential for interior upgrades, which would allow new ownership to capture rent premiums already supported by nearby comparable properties. The average in-place rent across the Portfolio is $1,372 per unit, with a notable upside across the Portfolio as the rents are currently below market.
The Downtown Norristown Portfolio presents the opportunity to acquire immediate scale in one of Suburban Philadelphia’s most supply-constrained rental markets. With operational efficiencies due to geographic clustering and proven rent growth, the Portfolio is well-positioned to benefit from continued suburban migration and constrained housing supply. This offering represents a stabilized, well-diversified, and income-producing multifamily Portfolio with clear potential for upside through interior improvements, operational streamlining, and organic rent growth in an increasingly desirable Montgomery County submarket.
FAITS SUR LA PROPRIÉTÉ
| Prix | 14 931 001 $ CAD | Nombre de propriétés | 18 |
| Prix/pi² | 182,87 $ CAD / pi² | Individuellement en vente | 0 |
| Type de vente | Investissement | Taille totale du bâtiment | 81 650 pi² |
| Statut | Sous contrat | Superficie totale du terrain | 2,98 AC |
| Prix | 14 931 001 $ CAD |
| Prix/pi² | 182,87 $ CAD / pi² |
| Type de vente | Investissement |
| Statut | Sous contrat |
| Nombre de propriétés | 18 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 81 650 pi² |
| Superficie totale du terrain | 2,98 AC |
PROPRIÉTÉS
| NOM DE LA PROPRIÉTÉ/ADRESSE | TYPE DE PROPRIÉTÉ | TAILLE | ANNÉE DE CONSTRUCTION | PRIX INDIVIDUEL |
|---|---|---|---|---|
| 128 2nd St, Bridgeport, PA 19405 | Immeuble residentiel | 4 765 pi² | 1900 | - |
| 25-27 W Fornance St, Norristown, PA 19401 | Bureau | 5 319 pi² | 1900 | - |
| 933 W Main St, Norristown, PA 19401 | Bureau | 5 311 pi² | 1900 | - |
| 1102 Dekalb St, Norristown, PA 19401 | Bureau | 5 200 pi² | 1900 | - |
| 1405 Powell St, Norristown, PA 19401 | Bureau | 3 273 pi² | 1900 | - |
| 126-128 E Main St, Norristown, PA 19401 | Commerce de détail | 5 087 pi² | 1920 | - |
|
620 - 622 Dekalb St
620-622 Dekalb St, Norristown, PA 19401 |
Immeuble residentiel | 10 860 pi² | 1910 | - |
| 1007 DeKalb St, Norristown, PA 19401 | Immeuble residentiel | 7 532 pi² | 1900 | - |
|
1007 - 1009 Markley St
1007-1009 Markley St, Norristown, PA 19401 |
Immeuble residentiel | 5 644 pi² | 1920 | - |
|
1029 West Main St
1029 West Main St, Norristown, PA 19401 |
Immeuble residentiel | 5 000 pi² | 1900 | - |
| 920 Swede St, Norristown, PA 19401 | Immeuble residentiel | 4 510 pi² | 1900 | - |
| 1024 W Main St, Norristown, PA 19401 | Immeuble residentiel | 3 867 pi² | 1900 | - |
| 1010 W Main St, Norristown, PA 19401 | Immeuble residentiel | 3 530 pi² | 1900 | - |
| 1012 W Main St, Norristown, PA 19401 | Immeuble residentiel | 3 127 pi² | 1900 | - |
| 917 Swede St, Norristown, PA 19401 | Immeuble residentiel | 2 698 pi² | 1890 | - |
| 919 Swede St, Norristown, PA 19401 | Immeuble residentiel | 2 697 pi² | 1890 | - |
| 1413 Astor St, Norristown, PA 19401 | Immeuble residentiel | 1 656 pi² | 1926 | - |
| 404 W Fornance St, Norristown, PA 19401 | Immeuble residentiel | 1 573 pi² | 1920 | - |
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(215) 454-2879
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CONTACTS
-
Kenneth Wellar -
Corey Lonberger -
Luke DeLuca -
Robert DiPasquale -
Kiersten Mangin -
Charles Lang
-
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