279 N Main Street, Wilkes-Barre, PA 18702 (MLS# 24-4466)

279 N Main Street, Wilkes-Barre, PA 18702

$624,999

Property Type: Residential Income Square Footage: 5,227 Status: Closed

Current Price: $624,999 List Date: 9/09/2024 Last Modified: 11/03/2024

Overview

Description

Exciting Investment Opportunity! This 5+ unit commercial-zoned property is perfect for investors seeking strong rental income. Located in a prime area with high foot traffic, this property offers endless possibilities for mixed-use development. With 5 units currently rented, this is a turn-key solution for savvy buyers. College and university rentals could be a potential opportunity.

Supplements: The owner pays for water across the entire building. At 281, three units have all utilities included, while tenants at 279 cover gas and electricity. The first floor of 281 is vacant, previously used as a beauty salon. Four units are rented month-to-month, and one was recently rented.

Listing Details MLS# 24-4466

Location, Tax & Legal

Street Number: 279
Street Direction Prefix: N
Street Name: Main
Street Suffix: Street
State: PA
Postal Code: 18702
County: Luzerne
MLS Area Major: Wilkes Barre
SchoolDistrict: Wilkes-Barre
Township: Wilkes Barre City
Subdivision Name: None
Zoning: Commercial
PIN #: 73-H10NW4-023-025
DB/Record Book: 3019
Page: 62775
Total County Assmnt: 122200
Est County Tax: 776.46
Est Total Tax: 3029

Listing Information

Listing Contract Date: 2024-09-09
Limited Service: No

Property Information

Property Sub Type: Multi Family
Building Area Total: 5227
Est Age Range: 41 - 50 Yrs
Parking: Off-Street
Realtor.COM Type: Multi-Family
Style: 3 or More Units
Garage Stalls: 1.5
Garage Type: Detached

Remarks Directions

Directions: From Pierce St, Turn left onto N Main St. corner of Beaumont. Please use GPS From your Location.

Status Change Information

Purchase Contract Date: 2024-10-08
Close Date: 2024-11-01

Expenses

Annual Gross Income: 72000
Annual Electric Exp: 1050
Annual Gas Exp: 1100
Annual Water Exp: 960
Annual Sewer Exp: 490
Annual Real Est Tax: 2453
Total Annl Expenses: 7513
Annual Othr Fuel Exp: 0
Annual Fire/Liabilty: 1080
Annual Flood Ins: 0
Annual Lawn Maint.: 380
Annual Snow Removal: 0
Annual Other Misc: 0
Anl Net Inc b/4 Debt: 64487

More Information

Unit 1 Info

Unit #: Yes
# Rooms: 4
# Bedrooms: Yes
# Baths: Yes
Heat in Rent: N
Hot Water in Rent: Y
Monthly Rent: 900
Kitchen Style: Semi-Modern
Lease: N
Electric in Rent: N
Water in Rent: Y
Sewer in Rent: Y

Unit 2 Info

Unit #: 2
# Rooms: 8
Monthly Rent: 1100
# Bedrooms: 4
Kitchen Style: Semi-Modern
# Baths: 2
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: Y
Sewer in Rent: Y

Unit 3 Info

Unit #: 3
# Rooms: 4
Monthly Rent: 900
# Bedrooms: Yes
Kitchen Style: Semi-Modern
# Baths: Yes
Lease: N
Heat in Rent: Y
Hot Water in Rent: Y
Electric in Rent: Y
Water in Rent: Y
Sewer in Rent: Y

Unit 4 Info

Unit #: 4
# Rooms: 4
Monthly Rent: 900
# Bedrooms: Yes
Kitchen Style: Semi-Modern
# Baths: Yes
Lease: N
Heat in Rent: Y
Hot Water in Rent: Y
Electric in Rent: Y
Water in Rent: Y
Sewer in Rent: Y

Unit 5 Info

Unit #: 5
# Rooms: 6
Monthly Rent: 1100
# Bedrooms: 3
Kitchen Style: Semi-Modern
# Baths: Yes
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: Y
Sewer in Rent: Y

Unit 6 Info

Unit #: 6
# Rooms: 4
Monthly Rent: 900
# Bedrooms: Yes
Kitchen Style: Semi-Modern
# Baths: Yes
Lease: N
Heat in Rent: Y
Hot Water in Rent: Y
Electric in Rent: Y
Water in Rent: Y
Sewer in Rent: Y

Remarks & Directions

Include: Stove. Refrigerator
Exclude: Seller Personal Items
Hot Sheet Comment: new

Showing Instructions

Contact Showing Service - See Remarks: Yes

Heat Fuel Type

Gas: Yes

Interior Finish

Drywall: Yes

Heat Type

Radiant: Yes

Condition

Excellent: Yes

AC Type

None: Yes

Water

Public: Yes

Exterior

Wood: Yes

Sewer

Public: Yes

Roof

Comp Shingle: Yes

Hot Water Heater

Gas: Yes

Basement

Concrete Floor: Yes

Property Features

Showing Instructions: Contact Showing Service - See Remarks Heat Fuel Type: Gas Heat Type: Radiant AC Type: None Condition: Excellent Exterior: Wood Hot Water Heater: Gas

Listing Office: Simplicity Realty

Listing Agent: Falconieri Lima de Jesus

Last Updated: November - 03 - 2024

Broker Attribution: 570-855-6480

Information deemed reliable but not guaranteed.

One home for you!

MLS Listing