11-Unit Residential Income
For Sale
$679,000
292 S Franklin St, Wilkes Barre, PA 18701
Apartment building with a mix of studio and one-bedroom units, offered for sale as a residential income property.
Property Size6,800 SF
Price / SF$99.85
Days on Market96
Property Features for 292 S Franklin St
General Information
Standard status
Active
Size
6,800 SF
Additional Details
Multifamily Units
11
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
ERA One Source Realty
Listed By:
Sunita Arora · License #RM061605A
(570) 510-5840
Source:
Revolvepa
Added: Jul 20
Changed: Oct 4
Last Checked: Oct 5 at 10:06PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale residential income property features 11 apartment units with a mix of studio and one-bedroom layouts. The building is configured as a small multifamily asset designed to serve a range of apartment needs within the same structure.
The property is located close to downtown and near shops and schools, with the public remarks also citing proximity to Wilkes University.
As presented, the key tenant-occupancy offering is a diversified unit mix across studios and one-bedroom apartments within an 11-unit residential building.
The property is located close to downtown and near shops and schools, with the public remarks also citing proximity to Wilkes University.
As presented, the key tenant-occupancy offering is a diversified unit mix across studios and one-bedroom apartments within an 11-unit residential building.
Key Highlights
- 11‑unit apartment building offered for sale as a residential income property
- Unit mix includes studio and one‑bedroom apartments
- Located close to Wilkes University, downtown, shops, and schools
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,897
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,940
$1.0M
Cap Rate 7%
$727,100
$727.1K
Cap Rate 9%
$565,522
$565.5K
Market Conditions
NOI Build-Up for 6,800 SF
Gross rent
$100.4K $14.76/SF
− Vacancy
−$7.8K −$1.15/SF
EGI
$92.5K $13.61/SF
− OpEx
−$41.6K −$6.12/SF
NOI
$50.9K $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%
$1,017,940
Cap Rate 7%
$727,100
Cap Rate 9%
$565,522
Alternative Uses
Best Use
Apartment 5plus
$727.1K
$636.2K – $848.3K
NOI $50,897 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,797 @ 7.0% cap · market cap 22.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 18701, PA
4,658
Population
1,513
Households
3.1
Avg Household Size
27
Median Age
25%
College-Educated
87%
High-School Grad
0.5 sq mi
ZIP Area
9,316
Density / Sq Mi
$32,417
Median Household Income
$6,479
Median Earnings
$842
Median Rent
$245,700
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
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with a mix of studio and one-bedroom units, offered for sale as a residential income property.
Where is this apartment building located?
The property is located at 292 S Franklin St Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 11‑unit apartment building offered for sale as a residential income property; Unit mix includes studio and one‑bedroom apartments; Located close to Wilkes University, downtown, shops, and schools
