522 Spring Street, Hawley, PA 18428
sale
$6,000,000
|
Other
Courtesy Of Davis R. Chant Real Estate, Inc.
Presented exclusively for qualified investors, this offering represents a rare opportunity to acquire a 34-unit multifamily residential portfolio located in Hawley, Pennsylvania, the commercial hub of Wayne County and gateway community to the Pocono Mountains region. The portfolio comprises two distinct residential components: Eagle Village Apartments, a concentrated multifamily complex at 516, 520, and 522 Spring St; and The Heights at Bellemonte / School Avenue, a collection of residential apartment buildings at 141-147 Bellemonte Avenue and 155 School Avenue.Together, these properties generate $593,940 in annual gross scheduled rent from 34 well-maintained residential units, supplemented by $4,200 in annual laundry income, for a total Gross Potential Income of $598,140. The portfolio is currently 91.2% occupied (31 of 34 units), with three vacant two-bedroom units representing immediate lease-up upside. The seller reports an owner's NOI of approximately $444,400, reflecting a lean expense ratio of 25.7%, significantly below the multifamily industry average of 35%-50%, driven by the portfolio's efficient cost structure and increasing tenant utility responsibility.The portfolio offers a compelling combination of current cash flow, near-term value-add opportunity, and favorable positioning in a growing Pennsylvania market. With the Pocono Mountains region attracting continued residential demand from remote workers, retirees, and tourism-adjacent renters, Hawley's majority-renter community supports a stable tenant base for sustained investment performance.
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Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Amenities: Basement
- Building Units: 34
- Cooling System: Ceiling Fan(s)
- Cooling System: Central Air
- Floors: 3
- Heating System: Electric (Heating)
- Heating System: Natural Gas
- MLSID: PW-260561
- Rooms: Basement
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