Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 2309 Milford Rd, East Stroudsburg, PA. The subject property is situated on 5 acres of land and consists of 28 total units: (6) 1 Bed/1 Bath, (1) 2 Bed/1 Bath Cabin, and (21) Studios. The property is currently operating as a motel, with the option to operate as extended stay lodging. Additionally, occupancy permits from the Township have been issued, ensuring that the property is up to code and ready for use. Numerous capital expenditures and renovations have been completed over the past couple of years, which include brand new roofs, a freshly paved parking lot with 40 parking spaces, coin operated laundry, camera security systems, and PTEC heating/cooling units. Given the nature of the property’s expansive 5-acre parcel, the potential for additional units or self-storage could be a significant value-add to this investment opportunity. Flexible rental operations with extended stay option offer investors potential to cater to various tenants along with changes in market demand - Current rents of the subject property are well below market allowing new owners to increase rents within a short timeframe. In Fact, apartment rents in the East Stroudsburg market were rising at a 3.8% annual rate during the second quarter of 2023 and have posted an average annual gain of 5.0% over the past three years.