39
See all 39 photos
$6,000,000
Est. payment /mo
2.96 Acres Lot
Active
522 Spring ST Hawley, PA 18428
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PWBPW260561
Year Built 1940
Annual Tax Amount $38,447
Tax Year 2026
Lot Size 2.960 Acres
Acres 2.96
Property Sub-Type Multi Family
Source pikewayne
Property Description
Presented exclusively for qualified investors, this offering represents a rare opportunity to acquire a 34-unit multifamily residential portfolio located in Hawley, Pennsylvania, the commercial hub of Wayne County and gateway community to the Pocono Mountains region. The portfolio comprises two distinct residential components: Eagle Village Apartments, a concentrated multifamily complex at 516, 520, and 522 Spring St; and The Heights at Bellemonte / School Avenue, a collection of residential apartment buildings at 141-147 Bellemonte Avenue and 155 School Avenue.Together, these properties generate $593,940 in annual gross scheduled rent from 34 well-maintained residential units, supplemented by $4,200 in annual laundry income, for a total Gross Potential Income of $598,140. The portfolio is currently 91.2% occupied (31 of 34 units), with three vacant two-bedroom units representing immediate lease-up upside. The seller reports an owner's NOI of approximately $444,400, reflecting a lean expense ratio of 25.7%, significantly below the multifamily industry average of 35%-50%, driven by the portfolio's efficient cost structure and increasing tenant utility responsibility.The portfolio offers a compelling combination of current cash flow, near-term value-add opportunity, and favorable positioning in a growing Pennsylvania market. With the Pocono Mountains region attracting continued residential demand from remote workers, retirees, and tourism-adjacent renters, Hawley's majority-renter community supports a stable tenant base for sustained investment performance.
Location
State PA
County Wayne
Rooms
Basement Unfinished
Interior
Heating Electric, Natural Gas
Cooling Ceiling Fan(s), Other, Central Air
Exterior
Community Features Airport/Runway, Playground, Tennis Court(s), Street Lights, Sidewalks, Restaurant, Park, Lake, Fishing, Fitness Center
View Y/N No
Building
Story 3
Sewer Public Sewer
Schools
High Schools Wallenpaupack School District
Listed by Davis R. Chant - Lake Wallenpaupack
NEARBY SCHOOL & BUSINESS
Thomas Olsewski
Agent | License ID: PA# RS376466 and NJ# 2561002
+1(570) 526-2800 | tom@discoverpahomes.com