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.