8-Unit Townhouse
For Sale
$1,099,000
23 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 Market9
Property Features for 23 Garnet Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
24
Bathrooms
16
Full bathrooms
16
Rooms
Bedroom 3, Bedroom 7, Bathroom 11, Bathroom 2, Bathroom 12, Bathroom 4, Bedroom 20, Bedroom 11, Bathroom 6, Bathroom 7, Bedroom 14, Bedroom 10, Bedroom 21, Bathroom 8, Bedroom 1, Bedroom 22, Bathroom 15, Bathroom 1, Bathroom 16, Bedroom 15, Bedroom 18, Bathroom 5, Bedroom 5, Bathroom 14, Bedroom 6, Bedroom 9, Bedroom 12, Bedroom 16, Bathroom 13, Bedroom 2, Bathroom 9, Bathroom 3, Bedroom 23, Bathroom 10, Bedroom 13, Bedroom 4, Bedroom 24, Bedroom 8, Bedroom 19, Bedroom 17
Parking features
Garage
Elementary school district
Wilkes-Barre
Middle school district
Wilkes-Barre
High school district
Wilkes-Barre
Directions
E. Northampton Street to S. Grant, left on Garnet
Standard status
Active
APN
73-H10SW4-024-02B-000
Size
10,400 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
18684
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 - Lake Ariel · ERA Real Estate
(570) 698-0700
Listed By:
Sunita Arora · License #RM061605A
(570) 510-5840
Added: Oct 7
Changed: Oct 15
Last Checked: Oct 15 at 2:06AM
MLS# PW-263597
Copyright © 2026 Pike/Wayne Association 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 eight-unit apartment portfolio comprises townhouse-style residences across four parcels under common ownership. Each home has three bedrooms and two bathrooms, a private entrance, and garage parking. The buildings contain 10,400 square feet on a 0.5-acre site and were built in 1989. Electric heat and wall-unit cooling serve the residences, with public water and sewer available. All utilities are individually metered, and the units are tenant-occupied.
The properties are located on S. Hancock Street and Garnet Lane in Wilkes-Barre, within Luzerne County.
The properties are located on S. Hancock Street and Garnet Lane in Wilkes-Barre, within Luzerne County.
Key Highlights
- Eight townhouse‑style units, each with 3 bedrooms and 2 bathrooms
- 10,400 square feet across four parcels totaling 0.5 acres
- Individually metered utilities; all residences are tenant‑occupied
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.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Residents have private entrances, garage parking, and separate utility meters.
Where is this apartment building located?
The property is located at 23 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‑style units, each with 3 bedrooms and 2 bathrooms; 10,400 square feet across four parcels totaling 0.5 acres; Individually metered utilities; all residences are tenant‑occupied
