212 Pearl Street

Norristown, PA 19401

$550,000
Price
Beds
2,106 Sq. Ft.
$261 / Sq. Ft.
2,106
Sq. Ft.
$261
per Sq. Ft.

Description

A unicorn turn key property in Norristown bringing in excellent rental income for any investor. RARE, 7 BEDROOM, updated rooming house, fully occupied with clean U&O. Due to the local zoning regulations it is almost impossible to obtain a license for a new rooming house, or group home unless you find one that is already licensed and grandfathered in. This is your chance to own one of the few legal rooming houses in Norristown. The house can be kept as-is, fully rented and already bringing in great...A unicorn turn key property in Norristown bringing in excellent rental income for any investor. RARE, 7 BEDROOM, updated rooming house, fully occupied with clean U&O. Due to the local zoning regulations it is almost impossible to obtain a license for a new rooming house, or group home unless you find one that is already licensed and grandfathered in. This is your chance to own one of the few legal rooming houses in Norristown. The house can be kept as-is, fully rented and already bringing in great monthly income, or use as a group home, veteran home, the opportunities are endless. Seller will take full responsibility for all use and occupancy requirements. Certificate of occupancy to be provided at closing. Building is fully occupied and already bringing in $5,600 per month at over a 9% CAP rate! This is your chance to own this turn key, one of a kind property and start collecting rent checks immediately!
  1. Listed by Michael J Marchese • Coldwell Banker Realty
    P: (610)-476-4651 mmarchese@cbrealty.com

Property Details for 212 Pearl Street

Tax ID Number
13-00-29572-007
Ownership
Fee Simple
Structure Type
Twin/Semi-Detached
Style
Side-by-Side
Waterfront
No
Garage
No
Subdivision
NORRISTOWN
Subdivision
NORRISTOWN (MONTGOMERY PA)
LISTING UPDATED: 11/20/2024 11:56 AM

Property Details for 212 Pearl Street

StatusActive
MLS #PAMC2117474
Days on Market68
Taxes$2,327 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1900
Lot Size0.05 AC / 2,106 SF
CountyMontgomery County

Virtual Tour

Building Information for 212 Pearl Street

Stories-Residences4Year Built1900Building Size-Lot Size0.05 AC / 2,106 SF

Property Information for 212 Pearl Street

Location
Location
  • School District Name: NORRISTOWN AREA
  • School District County ID: 300200397035
  • SchoolDistrictSource: Listing Agent
  • County: MONTGOMERY
  • MLS Area: Norristown Boro (10613)
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
Association / Community Info
Association / Community Info
  • Association Recreation Fee Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $38,000
  • Year Assessed: 2024
  • County Tax: $181
  • Improvement Assessed Value: $0
  • City Town Tax: $655
  • Land Assessed Value: $0
  • Clean Green Assessed: No
  • Land Use Code: 1145
  • Agricultural Tax Due: No
  • Historic: No
  • Zoning: R2
  • Tax Lot: 053
  • School Tax: $1,489
  • Automatically Update Tax Values Y/N: Yes
Unit Information
Unit Information
  • Single Room Units Count: 7
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
Financial Information
Financial Information
  • Annual Rental Income: $67,200
  • Cap Rate: 9.00
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: 2,106.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 20.00 x 0.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 620476
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Spa: No
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Radiant
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office

Property History for 212 Pearl 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 212 Pearl Street

Taxable ValueLand$22,430Additions$15,570Total$38,000
Tax Record2023$2,333 ($194 / month)
Home Facts
Total Finished SqFt2,364 SqFtAbove Grade Finished SqFt2,364 SqFtStories3Lot Size2,106 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningR2CountyMONTGOMERYAPN13-00-29572-00-7

Schools near 212 Pearl Street

This home is within Norristown Area School District.
Rating
School
Type
Grades
Distance
Public - 1 to 4
Public - 5 to 8
Public - 5 to 8
Public - 9 to 12
Rating
School
Distance
Gotwals El School
Public1 to 4

East Norriton Middle School
Public5 to 8

Stewart Middle School
Public5 to 8

Norristown Area High School
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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212 Pearl Street is a multi-family home for sale in Norristown, PA 19401. This property was listed for sale on September 17, 2024 by Coldwell Banker Realty, it's currently listed at $550,000. It has been on the market for a total of 68 days and was last sold on November 11, 2022. This listing's school district is Norristown Area School District. Nearby schools include Gotwals El School, East Norriton Middle School and Stewart Middle School. 212 Pearl Street is a 0-bed, 0-bath, 2,106 sqft multi-family home built in 1900.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty

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.