Renovated 8-Unit Apartment
For Sale
$1,295,000
255 Washington St, East Stroudsburg, PA 18301
Fully renovated in 2023 with modern kitchens, updated bathrooms, and new HVAC systems across all units.
Property Size4,806 SF
Days on Market75
Property Features for 255 Washington St
General Information
Standard status
Active
Size
4,806 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Building Size
4,806 SF
Year Built
1902
Year Renovated
2023
Tenancy
Multi
Listed By:
Dan Lichty
(570) 460-2335
Source:
Tacmcommercial
Added: Jun 25
Changed: Aug 15
Last Checked: Sep 7 at 4:42AM
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 Dan Lichty
Investment Insights
Based on property information with market context.
This is an 8-unit apartment building that was fully renovated in 2023. The property features modern kitchens and updated bathrooms, along with new HVAC in every unit. The building includes SIX 1-bedroom apartments and TWO studio apartments.
The property is located in the center of East Stroudsburg, with convenient access to nearby shopping and Historic Crystal St, as well as ESU, the hospital, and Route 80. Off-street parking is available for tenants, and the property offers public utilities.
The current unit mix provides a blend of 1-bedroom and studio layouts, supported by high-efficiency HVAC and recently updated paved off-street parking.
The property is located in the center of East Stroudsburg, with convenient access to nearby shopping and Historic Crystal St, as well as ESU, the hospital, and Route 80. Off-street parking is available for tenants, and the property offers public utilities.
The current unit mix provides a blend of 1-bedroom and studio layouts, supported by high-efficiency HVAC and recently updated paved off-street parking.
Key Highlights
- 8‑unit multi‑family building built in 1902, fully renovated in 2023
- Unit mix: six 1‑bedroom apartments and two studio apartments
- New HVAC systems in every unit (high‑efficiency HVAC)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,070
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,400
$861.4K
Cap Rate 7%
$615,286
$615.3K
Cap Rate 9%
$478,556
$478.6K
Market Conditions
NOI Build-Up for 4,806 SF
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.
Gross rent
$81.3K $16.92/SF
− Vacancy
−$3.0K −$0.63/SF
EGI
$78.3K $16.29/SF
− OpEx
−$35.2K −$7.33/SF
NOI
$43.1K $8.96/SF
Area
Monroe County, PA
Vacancy
3.70%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,400
Cap Rate 7%
$615,286
Cap Rate 9%
$478,556
Alternative Uses
Best Use
Apartment 5plus
$615.3K
$538.4K – $717.8K
NOI $43,070 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,695 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
Explore this area
Business Placement
Demographics for 18301, PA
29,184
Population
11,125
Households
2.6
Avg Household Size
37
Median Age
34%
College-Educated
89%
High-School Grad
38.1 sq mi
ZIP Area
766
Density / Sq Mi
$90,488
Median Household Income
$40,202
Median Earnings
$1,350
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated in 2023 with modern kitchens, updated bathrooms, and new HVAC systems across all units.
Where is this apartment building located?
The property is located at 255 Washington St East Stroudsburg, PA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 8‑unit multi‑family building built in 1902, fully renovated in 2023; Unit mix: six 1‑bedroom apartments and two studio apartments; New HVAC systems in every unit (high‑efficiency HVAC)
