Log In/Sign Up
Your email has been sent.
Norristown Multifamily Portfolio 18 Properties Offered at $10,800,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- 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
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
| Price | $10,800,000 | Number of Properties | 18 |
| Price / SF | $132.27 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 81,650 SF |
| Status | Under Contract | Total Land Area | 2.98 AC |
| Price | $10,800,000 |
| Price / SF | $132.27 / SF |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 18 |
| Individually For Sale | 0 |
| Total Building Size | 81,650 SF |
| Total Land Area | 2.98 AC |
PROPERTIES
Show More > < Show Less
1 1
(215) 454-2879
x1002
CONTACTS
-
Kenneth Wellar -
Corey Lonberger -
Luke DeLuca -
Robert DiPasquale -
Kiersten Mangin -
Charles Lang
-
GREA
1 of 11
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Norristown Multifamily Portfolio
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.