03
OCT
OCT
$755,000
Wilkes-Barre, PA 18705
MLS# 26-397
Status: Closed
6000 sqft
1 / 8
Property Description
Solid 10.9 CAP ! INVESTOR OPPORTUNITY Wilkes-Barre. Close to downtown, this 8-unit property ALSO includes 4 rented garages and coin-operated laundry, providing consistent extra revenue. Most tenants are on month-to-month leases, allowing flexibility to adjust rents to market value.
Details
Listing Information
Current Price: $695,000
Sold Price: $695,000
Listing Contract Date: 2026-02-03
Limited Service: No
Property Information
Property Sub Type: Multi Family
Building Area Total: 6000
Est Age Range: 76 - 100 Yrs
Parking: On-Street
Location Legal Taxes
Street Number: 50
Street Direction Prefix: E
Street Name: Chestnut
Street Suffix: Street
State: PA
Postal Code: 18705
County: Luzerne
MLS Area Major: Wilkes Barre
SchoolDistrict: Wilkes-Barre
Township: Wilkes Barre City
Subdivision Name: None
Remarks Directions
Directions: From N Main St WB turn onto E Chestnut go 2 blocks property is on the left
Status Change Information
Status: Closed
Purchase Contract Date: 2026-02-08
Close Date: 2026-05-22
Close Price: 695000
Expenses
Annual Gross Income: 99708
Annual Electric Exp: 2010
Annual Gas Exp: 3500
Annual Water Exp: 4447
Annual Sewer Exp: 1500
Annual Real Est Tax: 2697.72
Total Annl Expenses: 17654.72
Appliances
# Ranges: 8
# Refrigerators: 8
Unit 1 Info
Unit #: 1
# Rooms: 5
# Bedrooms: 2
# Baths: 1
Heat in Rent: N
Hot Water in Rent: Y
Unit 2 Info
Unit #: 2
Unit 3 Info
Unit #: 3
Unit 4 Info
Unit #: 4
Unit 5 Info
Unit #: 5
Unit 6 Info
Unit #: 6
Unit 7 Info
Unit #: 7
Unit 8 Info
Unit #: 8
Property Features
Heat Fuel Type: Electric; Gas
Heat Type: Hot Water Baseboard
AC Type: None
Condition: Fair
Basement: Full
MF Amenities: Dumpster
Supplements
The landlord pays water, sewer, and heat on 2 units, while other tenants handle their own utilities. A dry basement offers extra storage space for tenants or management use.
With a current gross income of $99,708 and net income of $82,053 this well-maintained property provides solid returns today with clear upside potential. Conveniently located near downtown, shopping, and public transportation.
Highlights:
8-unit building with 10 cap rate
4 garages rented generating $400 pr month $4 ,800 pr year
Coin-operated laundry $120 pr mth
Dry basement with storage
Most tenants month-to-month - easy rent increases
Easy location for public transit
Seller has a second property for sale 10 unit fully renovated at 135 E. Main St Plymouth take a look for a package deal !
Tenant-occupied building 24-hour notice required for all showings.
Contact Candice today for your private showing!
Listing Office: eXp Realty- Scranton/Wilkes-Barre
Listing Agent: Candice Nulton-Farrell
Last Updated: July - 25 - 2026
Information deemed reliable but not guaranteed.
