Four-Unit Apartment
For Sale
$479,000
685 Alter St, Hazleton, PA 18201
Four apartments offer two-bedroom layouts with kitchens, living areas, and a mix of single-level and upper-floor configurations.
Property Size4,076 SF
Price / SF$117.52
Days on Market121
Property Features for 685 Alter St
General Information
Standard status
Active
Size
4,076 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Listing Agency:
Benjamin Real Estate
Listed By:
Tara Daugherty
(570) 233-2794
Source:
Nepahousehunt
Added: Jun 11
Changed: Oct 1
Last Checked: Oct 7 at 12:24PM
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 Benjamin Real Estate
Investment Insights
Based on property information with market context.
This quadplex contains four apartments, each arranged with two bedrooms, one bathroom, a living room, and a kitchen. Two first-floor units place their living spaces on one level. The two upper apartments include a bedroom on the primary living level and a second bedroom above, along with unfinished area that can serve as storage or additional living space.
The property also includes a finished area at street level, adding functional space beyond the apartment layouts. Located at 685 Alter St in Hazleton, Pennsylvania, the building is near restaurants, shopping, and schools.
The property also includes a finished area at street level, adding functional space beyond the apartment layouts. Located at 685 Alter St in Hazleton, Pennsylvania, the building is near restaurants, shopping, and schools.
Key Highlights
- Four apartment units, each with 2 bedrooms and 1 bathroom
- Two first‑floor apartments feature single‑level layouts
- Upper units place one bedroom on the main level and one upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,895
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,900
$657.9K
Cap Rate 7%
$469,929
$469.9K
Cap Rate 9%
$365,500
$365.5K
Market Conditions
NOI Build-Up for 4,076 SF
Gross rent
$51.4K $12.60/SF
− Vacancy
−$4.4K −$1.07/SF
EGI
$47.0K $11.53/SF
− OpEx
−$14.1K −$3.46/SF
NOI
$32.9K $8.07/SF
Area
Luzerne County, PA
Vacancy
8.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,900
Cap Rate 7%
$469,929
Cap Rate 9%
$365,500
Alternative Uses
Best Use
Multifamily LT 5
$469.9K
$411.2K – $548.3K
NOI $32,895 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$435.8K
$381.4K – $508.5K
NOI $30,508 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,389 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 18201, PA
31,310
Population
13,318
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
76%
High-School Grad
17.5 sq mi
ZIP Area
1,789
Density / Sq Mi
$43,983
Median Household Income
$30,463
Median Earnings
$1,019
Median Rent
$131,900
Median Home Value
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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?
Quadplex - Four apartments offer two-bedroom layouts with kitchens, living areas, and a mix of single-level and upper-floor configurations.
Where is this quadplex located?
The property is located at 685 Alter St Hazleton, PA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four apartment units, each with 2 bedrooms and 1 bathroom; Two first‑floor apartments feature single‑level layouts; Upper units place one bedroom on the main level and one upstairs
