401 Smith Street, Dunmore, PA 18512 (MLS# SC-2659)

401 Smith Street, Dunmore, PA 18512

$365,000
Property Type: Residential Income Bedrooms: 8 Baths: 4 Lot Size (sq. ft.): 3,920 Status: Closed
Current Price: $365,000 List Date: 5/22/2024 Last Modified: 9/11/2024

Description

HIGHEST AND BEST BY 5/29 12 NOON. Clean and Spacious DUNMORE 4 UNIT- INSIDE IS BEAUTIFUL! *Great Investment opportunity! Mo. to Mo. Tenants. Separate Electric. 10.8% cap rate when fully occupied. Nestled in a prime location in Dunmore! Don't let the outside fool you! This four-unit is a hidden gem that is a golden opportunity! Two beautifully remodeled apartments and the two others in great condition. Ensuring both value and quality, this property promises steady returns and potential for growth. Currently two of the four units are rented on a month-to-month lease. Separate electric meters for each unit and a whopping 10.8% cap rate when fully rented. Ideal for investors or owner-occupiers looking to collect rent, seize this lucrative opportunity before it slips away!

More Information MLS# SC-2659

Contract Information

Current Price: $365,000 Sold Price: $365,000 Status: Closed Listing Contract Date: 2024-05-21 Property Sub Type: Quadruplex Listing Agreement: Exclusive Right To Sell Listing Service: Full Service Owner Name: Vitino Errico

Location Tax and Legal

Street Number: 401 Street Name: Smith Street Suffix: Street State: PA Postal Code: 18512 County: Lackawanna

General Property Information

Number Of Units Total: 4 Bedrooms Total: 8 Bathrooms Total: 4 Bathrooms Full: 4 Above Grade Finished Area: 3800 Above Grade Unfinished Area: 500 Living Area: 3800 Enhanced Accessible: No Year Built: 1920 Year Built Source: Owner New Construction YN: No Lot Size Acres: 0.09 Lot Size Dimensions: 37X103X37X109 Waterfront YN: No Basement YN: Yes Stories: 3 Auction YN: No List Price/SqFt: 91.84 Sold Price/SqFt: 96.05

Remarks and Miscellaneous

Public Remarks: HIGHEST AND BEST BY 5/29 12 NOON. Clean and Spacious DUNMORE 4 UNIT- INSIDE IS BEAUTIFUL! *Great Investment opportunity! Mo. to Mo. Tenants. Separate Electric. 10.8% cap rate when fully occupied. Nestled in a prime location in Dunmore! Don't let the outside fool you! This four-unit is a hidden gem that is a golden opportunity! Two beautifully remodeled apartments and the two others in great condition. Ensuring both value and quality, this property promises steady returns and potential for growth. Currently two of the four units are rented on a month-to-month lease. Separate electric meters for each unit and a whopping 10.8% cap rate when fully rented. Ideal for investors or owner-occupiers looking to collect rent, seize this lucrative opportunity before it slips away! Exclusions: All tenant owned appliances.

Status Change Information

Major Change Timestamp: 2024-07-20T04:30:30Z Major Change Type: Status Change Status Change Timestamp: 2024-07-20 Purchase Contract Date: 2024-05-29 Close Date: 2024-07-19 Close Price: 365000 Concessions: No Buyer Financing: Conventional

Income and Expenses

Annual Total Expense: 13350 Gross Income: 51060 Heat Expense: 4100 Insurance Expense: 1200 Net Operating Income: 37710 Water Expense: 4700

Unit 1

Unit #: Front lower Actual Rent: 950 SqFt Total: 780 Baths Total: 1 Beds Total: 1 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes Occupied YN: Yes

Unit 2

Unit #: Front Upper Actual Rent: 1400 SqFt Total: 1500 Baths Total: 1 Beds Total: 4 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes Occupied YN: No

Unit 3

Unit #: Rear Lower Actual Rent: 855 SqFt Total: 780 Baths Total: 1 Beds Total: 1 Dining Room YN: Yes Kitchen YN: Yes Occupied YN: Yes

Unit 4

Unit #: Rear Upper Actual Rent: 1050 SqFt Total: 780 Baths Total: 1 Beds Total: 2 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes Occupied YN: No

Meter Information

Number Of Separate Electric Meters: 4

Road Frontage Type

Road Frontage Length: 37

Property Features

Appliances: Gas Oven; Gas Range; Gas Water Heater; Refrigerator Basement: Full Community Features: None Construction Materials: Stucco Cooling: Window Unit(s) Current Financing: Conventional Current Use: Multi-Family Heating: Electric; Natural Gas Levels: Three Or More Listing Terms: Cash; Conventional; FHA Lot Features: Corner Lot; Not In Development Operating Expense Includes: Insurance; Water/Sewer Owner Pays: Gas; Taxes; Water Parking Features: Off Street; On Street; Parking Pad Possession: Close Of Escrow; Negotiable Road Frontage Type: Other Roof: Asphalt Security Features: Smoke Detector(s) Sewer: Public Sewer Showing Requirements: 24 Hour Notice; Appointment Only; Pet(s) on Premises; Show Notice Required; Text Listing Agent Structure Type: Quadruplex Tenant Pays: Electricity Utilities: Natural Gas Connected; Water Connected Water Source: Public
Listing Office: EXP Realty LLC
Last Updated: September - 11 - 2024
Information deemed reliable but not guaranteed.