112 Wheat Lane, East Stroudsburg, PA 18301

$750,000
Property Type: Residential Income Square Footage: 8,336 Lot Size (sq. ft.): 174,676 Status: Closed
Current Price: $750,000 List Date: 10/13/2023 Last Modified: 3/03/2025

Description

Introducing an unparalleled investment chance in a highly sought-after location.Set on a sprawling 4 acres, this property ensures ample space for potential expansion, landscaping, or other endeavors.Situated at a strategic position minutes away from Route 80 & DWG, accessibility & connectivity are at their peak.The property boasts a diverse set of living spaces Large single family home tailored for comfort and luxury.A Two-Story Dwelling 4 bedrooms, 2 baths, with garage.Two One-Bedroom Apartments blending functionality with style.Two One-Bedroom Cottages.All units are occupied with excellent ROI at 7.75 Cap rate.Don't miss out on this exclusive investment opportunity that combines strategic location, diverse residences, and stable income.

More Information MLS# PM-110176

Contract Information

Listing Service: Full Service Property Sub Type: Multi Family Sold Price: $750,000 Current Price: $750,000 Status: Closed Listing Contract Date: 2023-10-12

Location, Tax, and Legal

Parcel Number: 16.8.1.39-1 Municipality: Smithfield Township High School District: East Stroudsburg Area Cnty&Muni Taxes (Legacy): 628.44 School Tax Amount: 4683 Tax Annual Amount: 5311.44 Tax Assessed Value: 149760 Tax Book Number: 2539/6421 Zoning Description: Multi-Family

General Property Information

Building Area Source: Estimated Stories: 2 Number Of Buildings: 5 Basement YN: No Garage YN: Yes Lot Size Acres: 4.01 List Price/SqFt: 104.97 Sold Price/SqFt: 89.97 Building Area Total: 8336 Year Built: 1970

Currently Not Used

Number Of Units Total: 6

Remarks and Miscellaneous

Public Historical Remarks: Utility Billing: Separate Electric, Type: Single, Type: Complex, Roof: Pitched, Kitchens: SemiMod, Bathrooms: Modern, Unit 6 Floor #: 1, Unit 5 Floor #: 1, Unit 2 Floor #: 1, Miscellaneous: Zoning Code R-2, Miscellaneous: Cert of Occ Req'd No. Unit 2 Floor #: 1. Unit 5 Floor #: 1. Unit 6 Floor #: 1 Public Remarks: Introducing an unparalleled investment chance in a highly sought-after location.Set on a sprawling 4 acres, this property ensures ample space for potential expansion, landscaping, or other endeavors.Situated at a strategic position minutes away from Route 80 & DWG, accessibility & connectivity are at their peak.The property boasts a diverse set of living spaces Large single family home tailored for comfort and luxury.A Two-Story Dwelling 4 bedrooms, 2 baths, with garage.Two One-Bedroom Apartments blending functionality with style.Two One-Bedroom Cottages.All units are occupied with excellent ROI at 7.75 Cap rate.Don't miss out on this exclusive investment opportunity that combines strategic location, diverse residences, and stable income.

Income and Expenses

Gross Income: 98820 Net Operating Income: 69739 Insurance Expense: 6800 New Taxes Expense: 13900.53 Trash Expense: 1200 Maintenance Expense: 3600

Listing Terms

Cash: 1 Conventional: 1

Tenant Pays

Electricity: 1

Possession

Close Of Escrow: 1

Unit 1

Unit #: 112 Wheat Lane Occupied YN: Y Actual Rent: 2150 SqFt Total: 2506 Rooms Total: 6 Beds Total: 3 Baths Total: 2 Unit Remarks: Appliances: Ref, Stov,W/D, Dishw

Unit 2

Unit #: 111A Wheat Lane Occupied YN: Y Actual Rent: 1045 SqFt Total: 780 Rooms Total: 3 Beds Total: 1 Baths Total: 1

Unit 3

Unit #: 111B Wheat Lane Occupied YN: Y Actual Rent: 700 SqFt Total: 780 Beds Total: 1 Baths Total: 1

Unit 4

Unit #: 109 Wheat Lane Occupied YN: Y Actual Rent: 1850 SqFt Total: 1840 Rooms Total: 6 Beds Total: 3 Baths Total: 2

Unit 5

Unit #: 1133 Old Mill Occupied YN: Y Actual Rent: 1350 SqFt Total: 704 Rooms Total: 3 Beds Total: 1 Baths Total: 1

Unit 6

Unit #: 1131 Old Mill Rd Actual Rent: 990 SqFt Total: 704 Rooms Total: 3 Beds Total: 1 Baths Total: 1

Laundry Features

Electric Dryer Hookup: 1 Gas Dryer Hookup: 1 Washer Hookup: 1

Construction Materials

Aluminum Siding: 1 Vinyl Siding: 1

Roof

Other: 1

Cooling

Wall/Window Unit(s): 1 Separate Meters: 1

Heating

Baseboard: 1 Electric: 1 Oil: 1

Water Heater

Electric: 1 Oil: 1

Appliances

Water Heater: 1

Water Source

Well: 1

Sewer

Septic Tank: 1 Cesspool: 1

Parking Features

Paved: 1

Road Surface Type

Paved: 1

Location Tax and Legal

County: Monroe Street Number: 112 Street Name: Wheat Street Suffix: Lane City (Post Office): East Stroudsburg State: PA Postal Code: 18301 Subdivision Name: None

Status Change Information

Purchase Contract Date: 2023-11-15 Close Date: 2024-01-04 Close Price: 750000

Property Features

Listing Terms: Cash; Conventional Tenant Pays: Electricity Possession: Close Of Escrow Laundry Features: Electric Dryer Hookup; Gas Dryer Hookup; Washer Hookup Construction Materials: Aluminum Siding; Vinyl Siding Roof: Other Cooling: Wall/Window Unit(s); Separate Meters Heating: Baseboard; Electric; Oil Water Heater: Electric; Oil Appliances: Water Heater Water Source: Well Sewer: Septic Tank; Cesspool Parking Features: Paved Road Surface Type: Paved
Listing Office: The Collective Real Estate Agency
IDX
Last Updated: March - 03 - 2025
Information deemed reliable but not guaranteed.
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