Renovated Multifamily
For Sale
$595,000
35 Mallery Pl, Wilkes Barre, PA 18702
Updated multifamily property with rear parking for eight vehicles.
Property Size6,000 SF
Price / SF$99.17
Days on Market131
Property Features for 35 Mallery Pl
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multi-Family
Listing Agency:
Avanti Real Estate Group
Listed By:
Amy Spess · License #RS287386
(570) 239-0737
Source:
Nepahousehunt
Added: Jun 6
Changed: Oct 1
Last Checked: Oct 12 at 8:21PM
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 Avanti Real Estate Group
Investment Insights
Based on property information with market context.
This multifamily property offers 6,000 square feet of renovated space and has been freshly painted. The improvements include remodeling throughout the building.
Rear parking accommodates eight cars, providing on-site parking for residents or occupants. The property is located on Mallery Place in Wilkes-Barre, Pennsylvania.
Rear parking accommodates eight cars, providing on-site parking for residents or occupants. The property is located on Mallery Place in Wilkes-Barre, Pennsylvania.
Key Highlights
- 6,000 square feet of multifamily space
- Remodeled property with freshly painted interiors
- Rear parking for 8 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,909
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,180
$898.2K
Cap Rate 7%
$641,557
$641.6K
Cap Rate 9%
$498,989
$499.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$88.6K $14.76/SF
− Vacancy
−$6.9K −$1.15/SF
EGI
$81.7K $13.61/SF
− OpEx
−$36.7K −$6.12/SF
NOI
$44.9K $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%
$898,180
Cap Rate 7%
$641,557
Cap Rate 9%
$498,989
Alternative Uses
Best Use
Apartment 5plus
$641.6K
$561.4K – $748.5K
NOI $44,909 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,056 @ 7.0% cap · market cap 22.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated multifamily property with rear parking for eight vehicles.
Where is this multifamily property located?
The property is located at 35 Mallery Pl Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 6,000 square feet of multifamily space; Remodeled property with freshly painted interiors; Rear parking for 8 cars
