Newly Renovated 30-Unit Multifamily Property

Property Highlights:

• 30 Unit Multifamily Investment Property

• Brand New Full Gut Rehab Redevelopment Project

• Granite Countertops and Stainless Steel Appliances

• Includes Adjacent Parking Lot with 14 Parking Spaces

Property Overview:

VRA Realty is pleased to exclusively offer to qualified investors this 30 UnitMultifamily Investment Property located at 611 Swede Street in Norristown, PA. This brand new redevelopment project completed construction on a full gut rehab in 2023. Almost everything about this property is new and fresh, and it's recently been fully stabilized by 100% occupancy across the apartments.

This beautiful five-story building is comprised of 30 newly renovated apartments with a unit mix of twenty-one (21) 1 bedroom 1 bath units, eight (8) studios, and one (1) 2 bedroom 1 bath unit. The ground floor level is wide open and could be utilized as a space for amenities such as a fitness center, an office or commercial space, or other uses. Currently that lower level is fit out with private storage lockers for the tenants.

Brand new kitchens throughout include granite countertops and stainless steel appliances. Washers and dryers are located on each floor. The building is serviced by an elevator and multiple stair towers. All new plumbing, all new electrical, Central Air throughout, and individual water heaters in each unit.

The purchase includes the parking lot to the rear of the property which includes 14 parking spaces. Some of the parking spaces are leased to the tenants for an extra monthly cost, and more could be leased for additional revenue. This CorePlus property is well maintained and ready for the new owner to step in and benefit from the local economic growth and new developments in the surrounding area.