301 E Brown St - Apartments FOR SALE


Norristown, PA 19401
$4,000,000 USD
215-454-2879
301 E Brown St, Norristown, PA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/9
null | 8.9% Cap Rate

301 E Brown St
Norristown, PA 19401


HIGHLIGHTS

  • Value-Add Potential: Opportunity to Increase Rents 15% to 20% with Minor Upgrades to Kitchens and Baths
  • Attractive Unit Mix: Diverse Unit Mix of (28%) One Bedroom and (72%) Two-Bedroom Units
  • Accessibility: Direct Access to King of Prussia, Plymouth Meeting, and Center City Philadelphia via U.S. Route 202, I-476, and U.S. Route 422
  • Access to Public Transit: The Norristown Transportation Center is less than a mile away, offering SEPTA Regional Rail, & Norristown High Speed Line
  • Local Amenities: Montgomery County Courthouse, Einstein Medical Center Montgomery, Elmwood Park Zoo, and Numerous Community Services, Schools, & Parks

OVERVIEW

Global Real Estate Advisors (GREA) is pleased to present the opportunity to acquire the fee simple interest in Plymouth Manor, a 25-unit, garden-style multifamily community located at 301 E. Brown Street in Norristown, Montgomery County, Pennsylvania. Strategically positioned on a 0.85-acre parcel, this three-story asset comprises 27,234± square feet and features a well-balanced unit mix of (7) one-bedroom and (18) two-bedroom apartments. Originally constructed in 1965 and maintained with modest renovations, the Property offers a clear and immediate value-add opportunity through targeted interior upgrades and operational enhancements, with the potential to drive rental increases of approximately 15% to 20%. Plymouth Manor is ideally situated in a supply-constrained, high-demand rental submarket that continues to benefit from Norristown’s ongoing revitalization efforts and proximity to employment hubs. The Property’s location is less than two miles from the Norristown Transportation Center, providing tenants with direct access to SEPTA’s regional rail, multiple bus routes, and the Norristown High Speed Line, offering seamless connectivity to Center City Philadelphia, King of Prussia, and other key destinations throughout the Region. Additionally, the asset is just minutes from major thoroughfares, including U.S. Route 202, I-476 (the Blue Route), and U.S. Route 422, which reinforces its appeal to the commuter tenant base. Tenants at Plymouth Manor enjoy close proximity to a wide array of neighborhood amenities and essential services, including grocery stores such as Save-A-Lot and Giant, outdoor attractions like Elmwood Park Zoo and Norristown Farm Park, and key regional employers such as Einstein Medical Center Montgomery and the Montgomery County Courthouse. The Property’s central location and walkable surroundings contribute to high tenant retention, strong leasing velocity, and long-term occupancy stability. Operationally, the asset is configured for efficiency, with separately metered electric service and RUBs-based billing for gas and water, minimizing landlord exposure to utility costs. Additional features include 20 off-street parking spaces, pitched asphalt shingle roofing, and modern fire safety systems. Current rents remain below market for comparable products, presenting a compelling opportunity to unlock additional revenue through a light value-add program focused on modernizing unit interiors with updated kitchens, flooring, and bathroom finishes. With its desirable unit mix, strategic central location, strong connectivity, and clear path to increased net operating income, Plymouth Manor represents a rare opportunity to acquire a stabilized, income-producing multifamily asset with significant upside in one of Montgomery County’s most accessible and emerging rental markets.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

25

PRICE/UNIT

$160,000

CAP RATE

8.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Plymouth Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

GA, Norristown Boro

APN/PARCEL ID

13-00-05020-007

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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