1 Broad StNanticoke, PA 18634

Property Details for 1 Broad St

Lot size

0.13 AC

Property type

Investment properties

Property subtype

Live-work space

APN

42-J7SE1-017-010

APU

42J7SE1017010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $874,084

  6.5%

  $806,847

  7%

  $749,215

• Comparable approach

  Method

  Valuation

  Relative Method

  $434,236

  Geo Method

  $739,928

• Alternative Use

  Use

  Valuation

  Residential

  $1,000,490

  Hospitality

  $916,444

  Educational

  $762,470

  Medical

  $788,693

  Retail

  $1,186,065

Location Insight

City

Nanticoke

County

Luzerne

State

Pennsylvania

Latitude

41.2023

Longitude

-76.0035

CBSA code

42540

CBSA name

SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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