279 N Main Street, Wilkes-Barre

Wilkes-Barre, PA, 18702 · MLS #24-4466

$540,000

Sold November 2024

279 N Main Street, Wilkes-Barre in Wilkes-Barre

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Approximate location · View larger map

Units

5,227

Building SF

$103

Per Sq Ft

Last List Price

$624,999

Sold For

$540,000

Against Asking

Sold 13.6% below asking

Thinking about selling in Wilkes-Barre? Find out what your home is worth, based on recent sales like this one.

About This Property

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. 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.

This property has sold and is no longer on the market. It sold for $540,000 in November 2024. Contact us for other recent sales nearby. Listed by Simplicity Realty.

Property Details

The Property

Property Type: Residential Income
Sub-Type: Multi Family
Style: 3 or More Units
Condition: Excellent

Interior

Basement: Concrete
Interior Features: Drywall
Included: Stove. Refrigerator

Systems

Heating: Natural Gas, Radiant
Water: Public
Sewer: Public Sewer

Exterior & Lot

Exterior: Wood Siding
Roof: Composition
Garage: 1.5 Car Detached
Lot Dimensions: 50x105

Location

County: Luzerne County
School District: Wilkes-Barre
Zoning: Commercial

Costs & Listing

Annual Taxes: $3,029
Gross Income: $72,000
Net Operating Income: $64,487
Cap Rate: 10.32%
MLS #: 24-4466
Listed By: Simplicity Realty

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