2938 Ridge Pike, Norristown, PA 19403

Description

Sellers are requesting the Highest & Best for our listing at 2938 RIDGE PIKE, EAGLEVILLE by Noon, Monday, July 20th. Exceptional investment opportunity in the heart of Eagleville! This mixed-use property consists of two buildings situated on two separate tax parcels and offers a total of six income-producing units, including one commercial space and five residential apartments.


The residential unit mix includes one three-bedroom apartment, one one-bedroom apartment, two two-bedroom apartments, and two efficiency/studio apartments, providing a diverse rental portfolio. The commercial space offers excellent visibility along Ridge Pike, making it ideal for a variety of business uses.
The property is available for showings on the following days & times: Wednesdays between 1:00 & 3:00 PM, Thursdays between 5:00 & 7:00 PM, Saturdays between 1:00 & 3:00 PM


Current monthly rental income totals $7,100 ($85,200 annually). Several tenants have occupied the property for many years, resulting in rents that vary by unit and tenancy, presenting an opportunity for future income growth as units turn over. The Commercial space is vacant at the moment, normally rents for $1,500 monthly bringing your grand total up to $8,600 monthly when full.


The property features a roof that is approximately eight years old and has been well maintained. Tenants pay their own electric, gas, and heat. The owner pays water, sewer, trash, and real estate taxes.


Being sold in as-is condition. This is an outstanding opportunity for investors seeking a fully occupied mixed-use property with immediate cash flow and long-term upside in a highly desirable Montgomery County location.