Description
1001 Stanbridge Street is an impressive corner property with a beautiful stone facade. This is a prime opportunity for investors, or a savvy house hacker looking to live in one unit and rent the others out! Property is a fully rented 3-Unit Mixed-Use building nestled in the heart of Norristown. First floor is a commercial space, currently being used as a beauty salon (but could be an office, retail space etc.). Current tenant is long-term (over ten years). 2nd floor is a 1 bed/ 1 bath apartment that does have section 8 approval. 3rd floor is a 2 bed / 1 bath apartment (long term tenants, over 5 years, currently month-to-month). Each unit is huge... over 1,000 square feet! The property has been well cared for, and the owner has maintained the rental license & updated lead paint certifications. This puts you in the best position for a smooth and expedited settlement. All 3 units are rented, generating a total of $3,200 in monthly income. Norristown is investing so much into community improvement. The location is also very convenient to access. All units have separate electric and heat. NEW sewer line. Charming front yard space (courtyard) and a resealed front driveway. Floor plans are provided in the photos. The best part? Another wonderful income-producing property on the same street is also available for sale. 923-925 Stanbridge St is a 6-unit garden apartment building (fully rented with long term tenants, generating $6,000 in monthly income). Add both of these great properties to your portfolio for a package deal price of $1,000,000!
