1 Broad StNanticoke, PA 18634
- Mixed-use properties
- 0.13 AC
Property Details for 1 Broad St
- Lot size
- 0.13 AC
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
FAQs
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