Patterson-Schwartz Real Estate329 W Johnson Highway, Norristown, PA 19401-1992 $499,900
Interior Sq. Ft: 3,800
Acreage: 0.24
Age:94 years
Taxes: $8,112
Design/Type:
Detached
Description
Optimal investment opportunity situated in a heavily traveled and busy business district of East Norriton Township! This 3-story multi-use property has been meticulously maintained by a long-time owner. The first-floor unit houses the hair salon/clinic and is an established business in the area. The unit features a reception area, a waiting area, spacious workstations, two therapy rooms, a private office, a kitchenette, and access to a full basement with plenty of storage space. The current owner’s wife owns and operates the salon business and would like to lease the space from the new owner to continue operating the business. Move upstairs from the rear and enter the bi-level residential apartment, which is currently leased for $1,200/month until September 30th, 2024. Comparable rentals in the area have been leased in the $1700-2000 per month range. The main floor of the unit offers an updated kitchen, a comfortable living room with a gas fireplace, wall-to-wall carpeting, and access to the huge back deck. Finishing off the main floor is a convenient half bathroom. The top floor shows off a sizable bedroom with a vaulted ceiling and skylight. Two additional bedrooms also have a skylight and ample closet space, and a full bathroom completes the level. Other features of the apartment include a washer/dryer, and ceiling fans in all living spaces. Both units have all separate utilities. Parking is easy with 12 parking spaces (two parking spaces are dedicated to the residential apartment). The property is strategically located close to major shopping areas, banks, hospitals, apartment buildings, and residential areas. Easy access to Schuylkill Expressway, rt 202, and PA Turnpike. Looking to the future, the potential cash flow is significant. With the current owners leasing the salon, and the apartment being leased at current market value come September under new ownership, the cap rate stands to potentially reach an impressive 6.5-7%. This building is a cash flow machine and will be a great addition to any investor's portfolio!
Home Assoc: No
Condo Assoc: No
Buyer Agency Comp*: 2.5 % Of Gross
Basement: Y
Pool: No Pool
Features
Utilities
Forced Air Heating, Natural Gas, Central A/C, Electric, Hot Water - Natural Gas, Public Water, Public Sewer
Garage/Parking
Parking Lot
Interior
Carpet, Ceiling Fan(s), Crown Moldings, Kitchen - Eat-In, Kitchen - Island, Recessed Lighting, Full Basement
Exterior
Concrete Perimeter Foundation, Brick Exterior, Stucco Exterior, Vinyl Siding, Deck(s)
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (23 schools)
Public Middle (6 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Eisenhower Middle School | Norristown Area School District | 5–8 | Norristown | 0.36 mi |
| Colonial Middle School | Colonial School District | 6–8 | Plymouth Meeting | 1.28 mi |
| East Norriton Middle School | Norristown Area School District | 5–8 | Norristown | 1.49 mi |
| Stewart Middle School | Norristown Area School District | 5–8 | Norristown | 1.56 mi |
| Upper Merion Middle School | Upper Merion Area School District | 5–8 | King of Prussia | 3.61 mi |
| Pennsylvania Virtual Charter School | Pennsylvania Virtual Charter School | K–12 | King of Prussia | 4.99 mi |
Public High (7 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Roosevelt Campus of the Norristown Area | Norristown Area School District | 9–12 | Norristown | 0.84 mi |
| Central Montco Technical High School | Central Montco Technical High School | 9–12 | Plymouth Meeting | 1.02 mi |
| Norristown Area High School | Norristown Area School District | 9–12 | Norristown | 1.86 mi |
| Upper Merion High School | Upper Merion Area School District | 9–12 | King of Prussia | 3.68 mi |
| Plymouth-Whitemarsh Senior High School | Colonial School District | 9–12 | Plymouth Meeting | 3.98 mi |
| Methacton High School | Methacton School District | 9–12 | Eagleville | 4.65 mi |
| Pennsylvania Virtual Charter School | Pennsylvania Virtual Charter School | K–12 | King of Prussia | 4.99 mi |
Private (22 schools)
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This report is a detailed community overview for Norristown (19401), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 27
- Average salary of people in this community: $46,885
Community Summary
- Population Density (ppl / mile): 6,839
- Household Size (ppl): 2.48
- Households w/ Children: 60%
Housing Inventory
- Owned: 7,150 (38.5%)
- Rented: 9,259 (49.9%)
- Vacant: 2,161 (11.6%)
- Total: 18,570
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 6.7%
- Some High School: 10.5%
- High School Graduate: 34.1%
- Some College: 15.3%
- Associate Degree: 6.2%
- Bachelor's Degree: 16.3%
- Graduate Degree: 10.9%
Income by dollar range
Median Income: $53,696
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $909
- One Bedroom: $913
- Two Bedroom: $1,208
- Three Bedroom: $1,241
- Four Bedroom: $1,569
© 2024 LiveBy. All Rights Reserved.
Contact Information
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Listing Courtesy of: Keller Williams Real Estate-Blue Bell , (215) 646-2900
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
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Listing data as of 5/19/2024.
