8-Unit Townhouse
New
For Sale
$1,099,000
23 Garnet Ln, Wilkes Barre, PA 18702
Each residence has a private entrance, garage parking, and separate utility meters.
Property Size10,400 SF
Price / SF$105.67
Days on Market6
Property Features for 23 Garnet Ln
General Information
Standard status
Active
Size
10,400 SF
Property subtype
Residential Income
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$18,684
Listing Agency:
ERA One Source Realty - Lake Ariel
Listed By:
Sunita Arora · License #RM061605A
(570) 698-0700
Source:
Exprealty
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA One Source Realty - Lake Ariel
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Investment Insights
Based on property information with market context.
This 8-unit townhouse portfolio spans four parcels in Wilkes-Barre, Pennsylvania, with a combined property size of 10,400 square feet. Each residence offers three bedrooms and two bathrooms, a private entrance, and garage parking. All units are tenant-occupied and individually metered for utilities.
The properties are located on S. Hancock Street and Garnet Lane and are held under common ownership.
The properties are located on S. Hancock Street and Garnet Lane and are held under common ownership.
Key Highlights
- Eight townhouse units across four parcels
- 10,400 square feet total property size
- Three bedrooms and two bathrooms in each unit
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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Each residence has a private entrance, garage parking, and separate utility meters.
Where is this multifamily property located?
The property is located at 23 Garnet Ln 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 across four parcels; 10,400 square feet total property size; Three bedrooms and two bathrooms in each unit
