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Renovated Multifamily Property in Wilkes-Barre

273 New Hancock St, Wilkes Barre, PA 18702

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Five-unit property with income potential in Wilkes-Barre, Pennsylvania.

Type:Multifamily

Property size:

5,100 SF

Price / SF:

$98/SF

HighLights

Stable in‑place income from a multi‑family property.
Recent renovations enhance property value and appeal.
Tenants pay their own utilities, reducing landlord expenses.
Opportunity to increase income beyond current levels.
Mix of one, two, and three‑bedroom apartments caters to diverse tenant needs.
Four out of five units are currently leased, with the last unit being leased on 4/1.

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Matthew Nelson

For Sale

Contact for pricing

Five-unit property with income potential in Wilkes-Barre, Pennsylvania.

Type:Multifamily

Property size:

5,100 SF

Price / SF:

$98/SF

Added:: Mar 21, 2026
Days on Market:: 104
Last Refresh:: Mar 22 at 8:21 pm

Property Features for 273 New Hancock St

General Information

Standard status: Active
Size: 5,100 SF
Property subtype: Multifamily

We can help!

Contact an agent

Matthew Nelson

Listing office Jonathan J. Nelson Real Estate

Listing date Mar 21, 2026

Source Crexi

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 Jonathan J. Nelson Real Estate

HighLights

Stable in‑place income from a multi‑family property.
Recent renovations enhance property value and appeal.
Tenants pay their own utilities, reducing landlord expenses.
Opportunity to increase income beyond current levels.
Mix of one, two, and three‑bedroom apartments caters to diverse tenant needs.
Four out of five units are currently leased, with the last unit being leased on 4/1.

Overview

This five-unit multifamily property is located in Wilkes-Barre. The property has undergone recent renovations and offers stable in-place income. Currently, four units are leased, with one unit scheduled for move-in on April 1st. The unit mix includes one, two, and three-bedroom apartments. Tenants are responsible for covering their own utility expenses. The property provides existing cash flow with opportunities to increase income. This property is part of a thirteen-unit portfolio and can be purchased individually or as part of the complete portfolio. The property size is 5100 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$75.3k	$14.76
− Vacancy	−$5.9k	−$1.15
EGI	$69.4k	$13.61
− OpEx	−$31.2k	−$6.12
NOI	$38.2k	$7.48

5,100 SF · lease $14.76/SF/yr · vacancy 7.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$545.3K

$477.2K – $636.2K (±1% cap)

NOI $38,172 @ 7.0% cap · market cap 7.63%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.62M

$1.41M – $1.88M (±1% cap)

NOI $113,098 @ 7.0% cap · market cap 22.62%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

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Local Demand

City: Wilkes Barre
County: Luzerne
State: Pennsylvania
Longitude: -75.868101
Latitude: 41.24466

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For sale
Apartment buildings
PA
Wilkes Barre
18702
273 New Hancock St

What type of property is this?

Apartment building - Five-unit property with income potential in Wilkes-Barre, Pennsylvania.

Where is this apartment building located?

The property is located at 273 New Hancock St Wilkes Barre, PA.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Stable in‑place income from a multi‑family property.; Recent renovations enhance property value and appeal.; Tenants pay their own utilities, reducing landlord expenses.