315 W Fornance Street

Welcome to 315 W Fornance St, Norristown, PA 19401! Exceptional 5-unit cash-flowing property located in the heart of Norristown. Purchase and run it as-is with immediate positive cash flow, or optimize for even higher yields. Check the numbers below for detailed investor information and financial performance. The building offers a mix of three one-bedroom units and two studios, all currently leased. The one-bedroom units rent for $1,044, $945, and $918 per month, and the studios rent for $971 and $803 per month. Leases are in place on all five units and run into 2027, which gives a buyer stable, predictable income from day one. Current monthly rents total $4,681, for annual rents of $56,172. Known expenses are $8,921, made up of $5,321 in real estate taxes, which include trash service, and $3,600 in insurance. Reserves for vacancy, management, and capital expenses are budgeted at $936 per year, broken down as $234 for vacancy, $468 for management, and $234 for capital expenses. Net income is $46,315 based on current rents. This is a strong opportunity for an investor looking to add scale to a portfolio with one closing and one property to manage. Contact us today for more details or to schedule a showing.