8-Unit Townhouse Apartment
New
For Sale
$1,099,000
23-29 Garnet Lane, Wilkes Barre, PA 18702
Residential Income, Wilkes-Barre, PA
Property Size10,400 SF
Lot Size0.50 Acres
Price / SF$105.67
Days on Market2
Property Features for 23-29 Garnet Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF
Bedrooms
24
Bathrooms
16
Full bathrooms
16
Rooms
Bathroom 5, Bathroom 10, Bedroom 9, Bedroom 19, Bedroom 2, Bathroom 7, Bedroom 11, Bedroom 3, Bathroom 15, Bedroom 20, Bedroom 5, Bathroom 8, Bedroom 23, Bathroom 12, Bathroom 4, Bathroom 13, Bedroom 13, Bathroom 3, Bathroom 11, Bedroom 16, Bedroom 21, Bathroom 1, Bedroom 10, Bathroom 16, Bathroom 9, Bedroom 4, Bathroom 14, Bathroom 2, Bedroom 14, Bedroom 8, Bedroom 1, Bathroom 6, Bedroom 24, Bedroom 7, Bedroom 12, Bedroom 6, Bedroom 15, Bedroom 18, Bedroom 22, Bedroom 17
Exterior features
Balcony
Appliances
Electric Water Heater
Elementary school district
Wilkes-Barre Area
Middle school district
Wilkes-Barre Area
High school district
Wilkes-Barre Area
Directions
E Northampton St to S Grant. Left on Garnet Lane.
Standard status
Active
APN
73-H10SW4-024-02B-000
Size
10,400 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
40-6 Hancock and 23-29 Garnet Ln
Tax Annual Amount
18684
Legal Description
40-6 Hancock and 23-29 Garnet Ln
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
private entrances
garage parking
Building Details
Year built
1989
Floors in Building
2
Number of units
8
Building materials
Brick, Vinyl Siding, Wood Siding
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Sunita Arora · License #RM061605A
(570) 510-5840
Added: Oct 7
Last Checked: Oct 8 at 3:06PM
MLS# SC265030
Copyright © 2026 Greater Scranton Board of Realtors MLS. 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 8-unit townhouse apartment portfolio contains 10,400 square feet across four parcels totaling 0.5 acres. Each unit has three bedrooms and two bathrooms, along with a private entrance. The properties are tenant-occupied and held under common ownership. Individual utility metering is in place for all utilities, and garage parking is provided. Built in 1989, the buildings feature balconies, electric heat, wall-unit cooling, and public water and sewer service.
The parcels are located on S. Hancock Street and Garnet Lane in Wilkes-Barre, Pennsylvania. The property is zoned MF.
The parcels are located on S. Hancock Street and Garnet Lane in Wilkes-Barre, Pennsylvania. The property is zoned MF.
Key Highlights
- Eight townhouse units, each with 3 bedrooms and 2 bathrooms
- 10,400 square feet across four parcels totaling 0.5 acres
- Tenant‑occupied units with separate metering for all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,842
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,840
$1.6M
Cap Rate 7%
$1,112,029
$1.1M
Cap Rate 9%
$864,911
$864.9K
Market Conditions
NOI Build-Up for 10,400 SF
Gross rent
$153.5K $14.76/SF
− Vacancy
−$12.0K −$1.15/SF
EGI
$141.5K $13.61/SF
− OpEx
−$63.7K −$6.12/SF
NOI
$77.8K $7.48/SF
Area
Luzerne County, PA
Vacancy
7.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,840
Cap Rate 7%
$1,112,029
Cap Rate 9%
$864,911
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.0K – $1.30M
NOI $77,842 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,630 @ 7.0% cap · market cap 20.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has three bedrooms, two bathrooms, a private entrance, and tenant occupancy.
Where is this apartment building located?
The property is located at 23-29 Garnet Lane Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Eight townhouse units, each with 3 bedrooms and 2 bathrooms; 10,400 square feet across four parcels totaling 0.5 acres; Tenant‑occupied units with separate metering for all utilities
