325 1st St Hazleton, PA 18201-5085
- Apartment buildings
- 0.10 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 325 1st St
- Lot size
- 0.10 lot acres
- Property type
- Apartment buildings
- APN
- 71-T8SW12-015-006
- APU
- 71T8SW12015006
Description
This well-maintained, four-unit apartment building in Hazleton, Pennsylvania, presents a compelling investment opportunity. Located at 325 W 1st St, 18201, this 1930-built, two-story brick structure underwent renovations in 2021, boasting a new roof, windows, furnace, and hot water heaters. The 4,742 square foot building sits on a 4,480 square foot lot and is zoned for apartment residential use. Each of the four units comprises two bedrooms and one bathroom, currently operating at 75% occupancy with month-to-month tenants. The property offers a strong net operating income (NOI) of $39,096, translating to an attractive 8.89% capitalization rate. Individual unit pricing is $110,000, with an overall asking price of $440,000 ($92.78 per square foot). Separate electric and hot water meters for each unit provide efficient utility management and potential for increased income through future upgrades. The building's long-term tenants and recent renovations contribute to its stability and potential for growth. This property is ideal for investors seeking a solid return in a stable market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $320,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $380,000
- 6.5%
- $360,000
- 7%
- $385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $340,000
- Geo Method
- $365,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $415,000
- Retail
- $410,000
- Mixed-Use
- $390,000
- Hospitality
- $305,000
- Educational
- $305,000
- Residential Income
- $320,000
- Energy
- $335,000
- Income-Based Land
- $385,000
- Food Service
- $325,000
Location Insight
- Map
- Local Demand
- City
- Hazleton
- County
- Luzerne
- State
- Pennsylvania
- Longitude
- -75.9772
- Latitude
- 40.9603
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA