11-Unit Residential Income
292 S Franklin St Wilkes Barre, PA 18701
New
292 S Franklin St, Wilkes Barre, PA, 18701
$679,000
For Sale
$679,000
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 Market6
Property Features for 292 S Franklin St
General Information
- Standard status
- Active
- Size
- 6,800 SF
Listing agency
ERA One Source Realty
(570) 510-5840
Listed by
Sunita Arora · License #RM061605A
(570) 510-5840
Source
Exprealty
Added: Jul 16 Updated: Jul 21 at 6:33PM Checked: Jul 21 at 6:33PM
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.4k | $14.76 |
| − Vacancy | −$7.8k | −$1.15 |
| EGI | $92.5k | $13.61 |
| − OpEx | −$41.6k | −$6.12 |
| NOI | $50.9k | $7.48 |
6,800 SF · lease $14.76/SF/yr · vacancy 7.80% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Marts Center
Gym & Fitness Center
Similar For Sale Nearby
FAQs
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
