Mixed-Use Multifamily Investment
507 Delaware Avenue Portland, PA 18351
For Sale
$550,000
MULTI_FAMILY - Portland, PA
Property Size5,500 SF
Lot Size0.08 Acres
Price / SF$100
Days on Market91
Property Features for 507 Delaware Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 5, Bathroom 1, Basement
Standard status
Active
APN
B11SE3C6-14
Size
5,500 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4004
Building Details
Year built
1900
Floors in Building
3
Number of units
5
Listing Agency:
Realty Solutions of PA
(610) 452-2722
Listed By:
Faith M Sarisky
(610) 452-2722
Added: Apr 30
Changed: Jul 29
Last Checked: Jul 29 at 8:06AM
MLS# PM-140888
Copyright © 2026 Pocono Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey mixed-use multifamily building includes a commercial storefront plus five total residential units: three one-bedroom apartments upstairs and one two-bedroom unit on the first floor. All units are currently rented. The building has benefited from recent upgrades, including new electrical panel boxes in the three second-floor units and updated flooring in the second-floor hall. Additional improvements include new electrical service at the meter box, basement sewer pipe conversion to PVC, upgraded lighting in the second-floor hallway, installed emergency lighting and illuminated exit signs, and added missing GFCI outlets. Exterior and safety updates include a handrail on the front steps and guard rails on the rear and basement steps. One unit was fully remodeled in 2022, and another unit was remodeled as well.
The property is located at 507 Delaware Avenue in Portland, PA. Public remarks note views of the Delaware River and walking bridge from the second floor.
For buyers seeking a ready-to-operate income asset, the building also includes a commercial storefront currently occupied by a chocolate shop, with long-term established tenants.
The property is located at 507 Delaware Avenue in Portland, PA. Public remarks note views of the Delaware River and walking bridge from the second floor.
For buyers seeking a ready-to-operate income asset, the building also includes a commercial storefront currently occupied by a chocolate shop, with long-term established tenants.
Key Highlights
- 5‑unit income‑producing property in Historic Portland with 3 one‑bedroom apartments, a two‑bedroom first‑floor unit, and an occupied commercial storefront.
- Commercial storefront is occupied by a popular chocolate shop; all units are currently rented with long‑term, well‑established tenants.
- Recent electrical and safety upgrades include new electrical panel boxes for the 3 second‑floor units and upgraded lighting in the 2nd‑floor hallway.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.0k | $12.00 |
| − Vacancy | −$5.1k | −$0.94 |
| EGI | $60.9k | $11.06 |
| − OpEx | −$18.3k | −$3.32 |
| NOI | $42.6k | $7.74 |
5,500 SF · lease $12.00/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$608.5K
$532.5K – $709.9K
NOI $42,596 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$478.1K
$418.4K – $557.8K
NOI $33,469 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.04M
$912.8K – $1.22M
NOI $73,022 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey building with three one-bedroom units, one two-bedroom unit, and an income-producing commercial storefront.
Where is this apartment building located?
The property is located at 507 Delaware Avenue Portland, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5‑unit income‑producing property in Historic Portland with 3 one‑bedroom apartments, a two‑bedroom first‑floor unit, and an occupied commercial storefront.; Commercial storefront is occupied by a popular chocolate shop; all units are currently rented with long‑term, well‑established tenants.; Recent electrical and safety upgrades include new electrical panel boxes for the 3 second‑floor units and upgraded lighting in the 2nd‑floor hallway.
