325 1St StHazleton, PA 18201

Property Details for 325 1St St

Lot size

0.10 AC

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.

• CAP approach

  CAP return

  Valuation

  6%

  $833,712

  6.5%

  $769,581

  7%

  $714,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $517,725

  Geo Method

  $882,190

• Alternative Use

  Use

  Valuation

  Residential

  $769,581

  Hospitality

  $704,932

  Educational

  $586,495

  Medical

  $606,665

  Retail

  $912,325

Location Insight

City

Hazleton

County

Luzerne

State

Pennsylvania

Latitude

40.9603

Longitude

-75.9772

CBSA code

42540

CBSA name

SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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