
Courtesy of: William Clauss, Davis R. Chant - Lake Wallenpaupack, will@will.realtor
$6,000,000
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Lot: 2.96 Acres
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Other
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$6,000,000
522 Spring Street 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.
Courtesy of: William Clauss, Davis R. Chant - Lake Wallenpaupack, will@will.realtor
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