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Multifamily

1733 Lakeside Dr

1733 Lakeside Dr, Harveys Lake, PA 18618

Listing Price: $900,000

Cap Rate
6.78%
Number of Units
8
Price/Unit
$112,500
Price/Gross SF
$97.83
Gross SF
9,200

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 1733 Lakeside Dr Harvey’s Lake, PA 18618. The subject property consists of 8 total units, is 100% occupied, and has been beautifully remodeled over the past three years. Each unit features a 1,150 sq ft - 2 Bed/2 Baths. Renovations include: updated bathrooms and kitchens that feature stainless steel appliances, granite countertops, modernized bathrooms, and laminate flooring throughout each of the units. Current rents of the subject property are below market - giving new ownership the ability to increase rents within a short timeframe. In fact, rents have increased by an impressive 7.6% over the past year, which significantly exceeds the average annual growth of 3.5% over the past decade. Furthermore, the vacancy rate in Luzerne county’s submarket has compressed moderately over the past four quarters, and at 1.2%, is below the long-term average. Tenants can enjoy the gorgeous view of Lake Harvey, while also having easy access to swimming, fishing, water skiing, 5-star restaurants, and much more.

Investment Highlights

  • 100% Occupied with Below Market Rents
  • Submarket Has Shown 7.6% Increase In Rents Over The Past Year
  • Fully Renovated in 2019
  • Onsite Parking
  • Lake Front Property Ideally Located in the Local Sub-Market

Exclusively Listed By

Financing By

Multifamily

1733 Lakeside Dr

Listing Price: $900,000

Cap Rate
6.78%
Number of Units
8
Price/Unit
$112,500
Price/Gross SF
$97.83
Gross SF
9,200

Investment Highlights

  • 100% Occupied with Below Market Rents
  • Submarket Has Shown 7.6% Increase In Rents Over The Past Year
  • Fully Renovated in 2019
  • Onsite Parking
  • Lake Front Property Ideally Located in the Local Sub-Market

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 1733 Lakeside Dr Harvey’s Lake, PA 18618. The subject property consists of 8 total units, is 100% occupied, and has been beautifully remodeled over the past three years. Each unit features a 1,150 sq ft - 2 Bed/2 Baths. Renovations include: updated bathrooms and kitchens that feature stainless steel appliances, granite countertops, modernized bathrooms, and laminate flooring throughout each of the units. Current rents of the subject property are below market - giving new ownership the ability to increase rents within a short timeframe. In fact, rents have increased by an impressive 7.6% over the past year, which significantly exceeds the average annual growth of 3.5% over the past decade. Furthermore, the vacancy rate in Luzerne county’s submarket has compressed moderately over the past four quarters, and at 1.2%, is below the long-term average. Tenants can enjoy the gorgeous view of Lake Harvey, while also having easy access to swimming, fishing, water skiing, 5-star restaurants, and much more.

Exclusively Listed By

Financing By

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