For Sale
$609,000

1 Broad StNanticoke, PA 18634

Seven-unit apartment building, strong NOI, below-market leases.

Overview

Added:
Dec 11, 2024
Days on market:
114
This well-maintained seven-unit apartment building is ideally situated in the heart of Nanticoke, Pennsylvania, at 1 West Broad Street, zip code 18634. Offered at $609,000, this multifamily property boasts a strong net operating income (NOI) of $43,363. The unit mix includes three one-bedroom units, two two-bedroom units, one studio apartment, and one commercial space, providing diverse income streams. Each tenant is responsible for their own utilities, minimizing landlord expenses. Currently, the leases are below market value, presenting a significant opportunity for increased profitability through future rent adjustments. The property's prime location offers convenient access to Luzerne Community College, Hanover Industrial Park, and the Chewy/Adidas Fulfillment Center, ensuring a consistent demand for rental units. This presents a compelling investment opportunity with significant upside potential. The price per unit is $87,000. This property is a turnkey investment ready for a new owner.

Highlights

  • $609,000 asking price for a 7-unit apartment building.
  • $43,363 Net Operating Income (NOI).
  • $87,000 per unit price.
  • Well-maintained multifamily property in Nanticoke, PA.
  • All units have separately metered utilities.
  • Below-market leases offer upside potential.

Property Details for 1 Broad St

Property type
Apartment buildings
Units
7

Location Insight

City
Nanticoke
County
Luzerne
State
Pennsylvania
Latitude
41.20232
Longitude
-76.0035149
1 Broad St, Nanticoke, Pennsylvania

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1 Broad St
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