1225 Main StOld Forge, PA 18518
- Residential income properties
- 0.24 AC
Property Details for 1225 Main St
- Year built
- 1920
- Lot size
- 0.24 AC
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 18411010021
- APU
- 18411010021
Description
This exceptional investment opportunity presents a well-maintained six-unit apartment building located at 1225 S Main St, Old Forge, PA 18518. The property, built in 1920, boasts 5,321 square feet across three stories and sits on a spacious lot that includes an additional parcel. This presents significant potential for expansion, additional parking, or other development projects. The building is zoned CT009. Five of the six units are currently rented, generating immediate income. Each unit features individually metered electricity, simplifying tenant management. The landlord provides comprehensive services, including water, gas, sewer, taxes, insurance, snow removal, and lawn care, minimizing operational burdens. The asking price is $549,900, translating to $103.35 per square foot and $91,650 per unit. Note that flood insurance is required for this property. This turnkey investment offers a strong return and significant upside potential in a desirable location. The property's solid rental history and comprehensive landlord services make it an attractive option for investors seeking a stable and profitable venture. The inclusion of an additional lot further enhances the long-term value and development possibilities.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,256,548
- 6.5%
- $3,006,045
- 7%
- $2,791,327
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,155,465
- Geo Method
- $2,141,073
-
Alternative Use
- Use
- Valuation
- Residential
- $3,006,045
- Hospitality
- $2,753,521
- Educational
- $2,290,897
- Medical
- $2,369,684
- Retail
- $3,563,618
Location Insight
- City
- Old Forge
- County
- Lackawanna
- State
- Pennsylvania
- Latitude
- 41.359
- Longitude
- -75.7497
- CBSA code
- 42540
- CBSA name
- SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].