15-Unit Apartment
For Sale
$1,999,999
306 Merwinsburg Road, Effort, PA 18330
Long-term tenants occupy the property, with several units recently updated and a larger building awaiting renovation.
Property Size10,546 SF
Price / SF$189.65
Days on Market276
Property Features for 306 Merwinsburg Road
General Information
Standard status
Active
Size
10,546 SF
Property subtype
Multi Family
Zoning
General Commercial (GC)
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Multifamily Units
15
Taxes and HOA fees
Annual Taxes
$18,363
Building Details
Building Size
10,546 SF
Year Built
1902
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate - Stroudsburg 637 Main
Listed By:
Bob Kelly
(570) 213-4884
Source:
Leonrossbroker
Added: Jan 31
Changed: Oct 26
Last Checked: Oct 30 at 2:07AM
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 Keller Williams Real Estate - Stroudsburg 637 Main
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Investment Insights
Based on property information with market context.
This 15-unit apartment property totals 10,546 square feet and was built in 1902. The former motel is currently occupied by long-term tenants. Approximately 75% of the units have been remodeled, while the largest building is ready for renovation. A pond, landscaped grounds, and parking serve the property. The site is zoned General Commercial (GC).
Effort, Pennsylvania, places the property within reach of Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake. The property’s existing residential configuration and former motel use are both part of its history.
Effort, Pennsylvania, places the property within reach of Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake. The property’s existing residential configuration and former motel use are both part of its history.
Key Highlights
- 15 residential units across 10,546 square feet
- Approximately 75% of units have been remodeled
- Largest building is ready for renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,510
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,890,200
$1.9M
Cap Rate 7%
$1,350,143
$1.4M
Cap Rate 9%
$1,050,111
$1.1M
Market Conditions
NOI Build-Up for 10,546 SF
Gross rent
$178.4K $16.92/SF
− Vacancy
−$6.6K −$0.63/SF
EGI
$171.8K $16.29/SF
− OpEx
−$77.3K −$7.33/SF
NOI
$94.5K $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 Rate 5%
$1,890,200
Cap Rate 7%
$1,350,143
Cap Rate 9%
$1,050,111
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,510 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.16M
$2.76M – $3.68M
NOI $220,960 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
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Business Placement
Demographics for 18330, PA
8,351
Population
3,196
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
576
Density / Sq Mi
$92,907
Median Household Income
$41,313
Median Earnings
$1,809
Median Rent
$251,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Long-term tenants occupy the property, with several units recently updated and a larger building awaiting renovation.
Where is this apartment building located?
The property is located at 306 Merwinsburg Road Effort, PA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 15 residential units across 10,546 square feet; Approximately 75% of units have been remodeled; Largest building is ready for renovation
