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Multifamily

1218 Monroe Ave

1218 Monroe Ave, Dunmore, PA 18509

Listing Price: $1,000,000

Cap Rate
6.78%
Number of Units
9
Price/Unit
$111,111
Price/Gross SF
$116.96
Gross SF
8,550

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 1218 Monroe Ave Dunmore, PA 18509 The subject property consists of 9 total units, is 100% occupied, and has been beautifully remodeled over the past three years. The unit mix consists of eight – 2 Bed/1 Baths and one – 1 Bed/1 Bath. 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 in this submarket have increased by an impressive 11.6% over the past year, which significantly exceeds the average annual growth of 3.7% over the past decade. Furthermore, the vacancy rate in Lackawanna County has compressed moderately over the past four quarters, and at 1.7%, is below the long-term average. Tenants also benefit from being surrounded by numerous 5-star restaurants, breweries, boutique coffee shops, and is near Moses Taylor Hospital along with Scranton University.

Investment Highlights

  • 100% Occupied with Below Market Rents
  • Submarket Has Shown 11.6% Increase In Rents Over The Past Year
  • Fully Renovated in 2019
  • Onsite Parking
  • Ideally Located Within the Local Sub-Market

Exclusively Listed By

Financing By

Multifamily

1218 Monroe Ave

Listing Price: $1,000,000

Cap Rate
6.78%
Number of Units
9
Price/Unit
$111,111
Price/Gross SF
$116.96
Gross SF
8,550

Investment Highlights

  • 100% Occupied with Below Market Rents
  • Submarket Has Shown 11.6% Increase In Rents Over The Past Year
  • Fully Renovated in 2019
  • Onsite Parking
  • Ideally Located Within the Local Sub-Market

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 1218 Monroe Ave Dunmore, PA 18509 The subject property consists of 9 total units, is 100% occupied, and has been beautifully remodeled over the past three years. The unit mix consists of eight – 2 Bed/1 Baths and one – 1 Bed/1 Bath. 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 in this submarket have increased by an impressive 11.6% over the past year, which significantly exceeds the average annual growth of 3.7% over the past decade. Furthermore, the vacancy rate in Lackawanna County has compressed moderately over the past four quarters, and at 1.7%, is below the long-term average. Tenants also benefit from being surrounded by numerous 5-star restaurants, breweries, boutique coffee shops, and is near Moses Taylor Hospital along with Scranton University.

Exclusively Listed By

Financing By

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