60 Grn St Nanticoke, PA 18634-2263
- Apartment buildings
- 0.15 lot acres
Nov 07, 2024
Current Use by Public Records
- Apartment buildings
Property Details for 60 Grn St
- Lot size
- 0.15 lot acres
- Property type
- Apartment buildings
- APN
- 42-J7SE1-017-027
- APU
- 42J7SE1017027
Description
This well-maintained seven-unit apartment building presents a compelling investment opportunity in the heart of Nanticoke, Pennsylvania. Priced at $658,000, this multifamily property boasts a Net Operating Income (NOI) of $49,447, offering a strong return on investment. The building comprises three two-bedroom units and four one-bedroom units, all with tenants responsible for their own utilities. A small parking area is located at the rear of the property for tenant convenience. Currently, leases are below market value, presenting a significant opportunity to increase profitability. The property's strategic location offers easy access to Luzerne Community College, the Hanover Industrial Park, and the Chewy/Adidas Fulfillment Center, ensuring a consistent demand for rental units. This cash-flowing asset is ideally situated in a central Nanticoke location, close to local amenities and employment centers. The property's strong occupancy and below-market leases make it an attractive investment for both seasoned and new investors seeking a stable and potentially high-growth income stream. The asking price of $658,000 translates to $94,000 per unit. This is a rare opportunity to acquire a well-positioned multifamily property in a thriving Pennsylvania community.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $580,000
- ML approach
- $580,000
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Location Insight
- Map
- Local Demand
- City
- Nanticoke
- County
- Luzerne
- State
- Pennsylvania
- Longitude
- -76.0048
- Latitude
- 41.2014
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA
