1433 West Norris Street

Philadelphia, PA 19121

$809,995
Price
10
Beds
7
Baths
2,617 Sq. Ft.
$310 / Sq. Ft.
2,617
Sq. Ft.
$310
per Sq. Ft.

Description

Inquire about 3D video tours, floor plans, and video walkthroughs! Here is your opportunity to purchase a turn-key property, leased until July 31, 2025. Ideal for a 1031 Exchange, this investment features a building with a 9.77 Gross Rent Multiplier (GRM), offering tax deductions and appreciation potential. Located just a 30-second walk from the Norris & Broad St intersection, it's an excellent location for Temple University students and their parents, ensuring peace of mind and convenience. The...Inquire about 3D video tours, floor plans, and video walkthroughs! Here is your opportunity to purchase a turn-key property, leased until July 31, 2025. Ideal for a 1031 Exchange, this investment features a building with a 9.77 Gross Rent Multiplier (GRM), offering tax deductions and appreciation potential. Located just a 30-second walk from the Norris & Broad St intersection, it's an excellent location for Temple University students and their parents, ensuring peace of mind and convenience. The building was completely renovated in 2011, with Unit 1 receiving a complete renovation in Summer 2023. From August 1, 2024, to July 31, 2025, the building will generate $6,555 monthly, totaling $78,660 annually. The tenants, who are Temple University students, are in joint leases and have qualified co-signers. The landlord covers water, trash pick-up, and cleaning of common areas. An estimated 7.75% CAP rate is exceptional for this setup and location. The units are easy to rent and manage due to the proximity to the school and their setups:

Unit 1: 4 bed/4 bath, $2800 + $80 water fee
Unit 2: 3 bed/2 bath, $1800 + $75 water fee
Unit 3: 3 bed/1 bath, $1725 + $75 water fee

The owner has maintained the property well, requiring minimal upkeep from the new landlord. All units boast central AC & heating, separate washers and dryers, and electric appliances. Schedule your tour today or explore our virtual tours!

Property Details for 1433 West Norris Street

Tax ID Number
321014600
Ownership
Fee Simple
Structure Type
Interior Row/Townhouse
Style
Other
Waterfront
No
Garage
No
Expected On Market Date
05-09-2024
Cross Street
15TH STREET

Location

Listing Courtesy of RE/MAX Plus
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LISTING UPDATED: 05/09/2024 12:13 AM

Property Details for 1433 West Norris Street

StatusActive
MLS #PAPH2348100
Days on Market11
Taxes$7,879 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built2011
Lot Size0.03 AC / 1,492 SF
CountyPhiladelphia County

Location

Listing Courtesy of RE/MAX Plus
Add your commute

Virtual Tour

Building Information for 1433 West Norris Street

Stories-Residences3Year Built2011Building Size-Lot Size0.03 AC / 1,492 SF

Payment Calculator

$5,077 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,420

Property Taxes

$657

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1433 West Norris Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19121 (19121)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $562,900
  • Zoning: SPINS
  • Automatically Update Tax Values Y/N: No
Lease Information
Lease Information
  • Owner Pays: Water, Common Area Maintenance, Insurance
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 3
  • Units Furnished: None
  • Units Leased Count: 3
  • Number Of Units Vacant: 0
  • Vacancy Allowance Rate: .00%
  • Number Of Units Month To Month: 0
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Finished SQFT: 1350
  • Unit Type Lease Type: Long Term
  • Beds Total: 4
  • Full Baths Count: 4
  • Unit Type Features: backyard, new renovations
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Finished SQFT: 678
  • Unit Type Lease Type: Long Term
  • Beds Total: 3
  • Full Baths Count: 2
  • Total Rooms: 3
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Finished SQFT: 678
  • Unit Type Lease Type: Long Term
  • Beds Total: 3
  • Full Baths Count: 1
  • Total Rooms: 3
Financial Information
Expenses
  • Operating Expense: $16,152
  • Operating Expense Includes: Insurance, Trash, Snow Removal
  • Insurance Expense: $2,160
  • Trash Expense: $300
  • Maintenance Expense: $1,200
Financial Information
  • Gross Income: $78,660
  • Net Operating Income: $62,748
  • Annual Rental Income: $78,900
  • Cap Rate: 7.75
  • Existing Lease Type: Long Term
Building Info
Building Info
  • Building Units Total: 3
  • Total Finished SQFT: 2,617.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Parcel ID: 1072672
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Appliances: Dishwasher, Washer, Dryer, Intercom, Built-In Microwave, Stove, Refrigerator
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Central
  • Heating Fuel: Natural Gas
  • Hot Water: Electric
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Suburban West REALTORS Association

Property History for 1433 West Norris Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1433 West Norris Street

Taxable ValueLand$89,300Additions$473,600Total$562,900
Tax Record2023$7,879 ($657 / month)
Home Facts
Total Finished SqFt2,617 SqFtAbove Grade Finished SqFt2,617 SqFtStories3Lot Size1,492 SqFtStyleMulti-Family Res (5+ Units)Year Built1915ZoningSPINSCountyPHILADELPHIAAPN32-1-0146-00

Schools near 1433 West Norris Street

This home is within Philadelphia City School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 7 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Duckrey Tanner School
PublicK to 8

Carver High School
Public7 to 12

The U School: Innovative Lab
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1433 West Norris Street is a multi-family home for sale in Philadelphia, PA 19121. This property was listed for sale on May 9, 2024 by RE/MAX Plus, it's currently listed at $809,995. It has been on the market for a total of 11 days and was last sold on September 29, 2011. This listing's school district is Philadelphia City School District. Nearby schools include Duckrey Tanner School, Carver High School and Philadelphia Military Academy At Elverson. 1433 West Norris Street is a 10-bed, 7-bath, 2,617 sqft multi-family home built in 2011.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Plus

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.