Eight-Unit Townhouse Multifamily
For Sale
$1,200,000
40 S Hancock Street, Wilkes Barre, PA 18702
MULTI_FAMILY - Wilkes-Barre, PA
Property Size10,400 SF
Lot Size0.56 Acres
Price / SF$115.38
Days on Market94
Property Features for 40 S Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF
Bedrooms
24
Bathrooms
40
Full bathrooms
24
Half bathrooms
16
Rooms
Bathroom 1, Bathroom 40, Bathroom 27, Bathroom 31, Bathroom 37, Bedroom 9, Bedroom 21, Bathroom 6, Bathroom 18, Bathroom 10, Bedroom 12, Bathroom 22, Bathroom 30, Bedroom 19, Bedroom 4, Bedroom 22, Bathroom 19, Bathroom 12, Bathroom 32, Bedroom 17, Bedroom 7, Bathroom 3, Bathroom 20, Bathroom 24, Bathroom 21, Bathroom 17, Bedroom 13, Bedroom 16, Bedroom 5, Bathroom 4, Bedroom 23, Bathroom 7, Bathroom 15, Bathroom 29, Bedroom 20, Bathroom 23, Bathroom 5, Bathroom 16, Bedroom 2, Bedroom 10, Bedroom 15, Bathroom 36, Bathroom 38, Bedroom 3, Bathroom 26, Bedroom 24, Bathroom 9, Bathroom 8, Bathroom 14, Bathroom 35, Bathroom 25, Bathroom 11, Bedroom 8, Bathroom 13, Bathroom 2, Bathroom 39, Bathroom 28, Bathroom 33, Bathroom 34, Bedroom 14, Bedroom 1, Bedroom 11, Bedroom 18, Bedroom 6
Exterior features
Balcony
Appliances
Electric Water Heater
Elementary school district
Wilkes-Barre Area
Middle school district
Wilkes-Barre Area
High school district
Wilkes-Barre Area
Directions
Go down Wilkesbarre Blvd and then take left by Mcdonalds
Standard status
Active
APN
73-H10SW4-024-003
Size
10,400 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
18684
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
private entrances
Building Details
Year built
1970
Floors in Building
2
Number of units
8
Building materials
Brick, Vinyl Siding, Wood Siding
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Jacob W. Rosenstein · License #RS369738
(570) 955-7338
Added: May 7
Changed: Aug 6
Last Checked: Aug 8 at 11:06AM
MLS# SC262055
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
An eight-unit townhouse-style multifamily portfolio spanning four parcels in Wilkes-Barre. Each unit offers a 3 bed / 2 bath layout with townhouse-style configuration and private entrances, with garage parking included. The units are individually metered for all utilities and are currently tenant-occupied, with an electric water heater serving the property. Exterior features include balcony space, and construction materials include brick with vinyl and wood siding. Heating is electric, and cooling is provided by wall unit(s). The property was built in 1970.
The portfolio is distributed across S. Hancock Street and Garnet Lane and is held under common ownership. The asset sits on a 0.56-acre lot and totals 10,400 square feet.
Zoned MF, this tenant-occupied townhouse portfolio may appeal to buyers seeking an established multifamily setup with individually metered utilities and private entrance living.
The portfolio is distributed across S. Hancock Street and Garnet Lane and is held under common ownership. The asset sits on a 0.56-acre lot and totals 10,400 square feet.
Zoned MF, this tenant-occupied townhouse portfolio may appeal to buyers seeking an established multifamily setup with individually metered utilities and private entrance living.
Key Highlights
- Eight townhouse‑style units across four parcels
- 3 bed / 2 bath unit mix, all tenant‑occupied
- Individually metered for all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,842
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,840
$1.6M
Cap Rate 7%
$1,112,029
$1.1M
Cap Rate 9%
$864,911
$864.9K
Market Conditions
NOI Build-Up for 10,400 SF
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.
Gross rent
$153.5K $14.76/SF
− Vacancy
−$12.0K −$1.15/SF
EGI
$141.5K $13.61/SF
− OpEx
−$63.7K −$6.12/SF
NOI
$77.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,840
Cap Rate 7%
$1,112,029
Cap Rate 9%
$864,911
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.0K – $1.30M
NOI $77,842 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,630 @ 7.0% cap · market cap 19.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,529
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight townhouse-style units on four parcels, each with private entrances and garage parking, tenant-occupied and individually metered.
Where is this apartment building located?
The property is located at 40 S Hancock Street Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Eight townhouse‑style units across four parcels; 3 bed / 2 bath unit mix, all tenant‑occupied; Individually metered for all utilities
