1961&1971 W Main Street, Stroudsburg, PA 18360
$1,300,000
Property Type:
Residential Income
Square Footage:
8,680
Lot Size (sq. ft.):
39,204
Status:
Closed
Current Price:
$1,300,000
List Date:
1/30/2024
Last Modified:
2/14/2025
Description
Investment Opportunity! Call Today For This 14-Unit, Fully-Occupied 'Cottage Park' Property in Stroudsburg, PA. Boasting just under $200K in gross annual rental revenues w controlled expenses, this property consists of one quadplex, one duplex and eight standalone cottages. Set on a main thoroughfare serviced by public utilities, this stabilized property is located a half-mile to major conveniences and employers at The Stroud Mall, Shoprite and Route 611's commercial corridor. Of the 14 Units, 10 have been gut renovated; 1 is a new build, while the remaining 3 still offer room to add value and revenue. Stroudsburg is the County Seat of Monroe County, which has a population of 165,000+. Property is 7 miles from the Delaware Water Gap Bridge to NJ via Route 80. Do Not Delay - Call Today!
More Information MLS# PM-112423
Contract Information
Listing Service: Full Service
Property Sub Type: Multi Family
Sold Price: $1,300,000
Current Price: $1,300,000
Status: Closed
Listing Contract Date: 2024-01-30
Location, Tax, and Legal
Parcel Number: 17.12.7.20
Municipality: Stroud Township
High School District: Stroudsburg Area
Cnty&Muni Taxes (Legacy): 2059.02
School Tax Amount: 9166.91
Tax Annual Amount: 11225.93
Tax Assessed Value: 344530
Tax Book Number: 2569/9862
Zoning Description: Commercial
General Property Information
Building Area Source: Public Records
Stories: 1
Number Of Buildings: 10
Basement YN: No
Lot Size Acres: 0.9
List Price/SqFt: 149.19
Sold Price/SqFt: 149.77
Building Area Total: 8680
Year Built: 1954
Currently Not Used
Number Of Units Total: 14
Remarks and Miscellaneous
Public Historical Remarks: Utility Billing: Separate Electric, Type: Built as Apartment, Roof: Pitched, Kitchens: Old,SemiMod, Bathrooms: Old,SemiMod, Miscellaneous: Zoning Code C-2, Current Use: Multi Family, Miscellaneous: Cert of Occ Req'd No
Public Remarks: Investment Opportunity! Call Today For This 14-Unit, Fully-Occupied 'Cottage Park' Property in Stroudsburg, PA. Boasting just under $200K in gross annual rental revenues w controlled expenses, this property consists of one quadplex, one duplex and eight standalone cottages. Set on a main thoroughfare serviced by public utilities, this stabilized property is located a half-mile to major conveniences and employers at The Stroud Mall, Shoprite and Route 611's commercial corridor. Of the 14 Units, 10 have been gut renovated; 1 is a new build, while the remaining 3 still offer room to add value and revenue. Stroudsburg is the County Seat of Monroe County, which has a population of 165,000+. Property is 7 miles from the Delaware Water Gap Bridge to NJ via Route 80. Do Not Delay - Call Today!
Unit Details
1 Bedroom: 10
2 Bedroom: 4
Income and Expenses
Gross Income: 199680
Net Operating Income: 139891
Operating Expense: 9984
Insurance Expense: 12000
New Taxes Expense: 11501
Trash Expense: 3600
Maintenance Expense: 15984
Listing Terms
Cash: 1
Conventional: 1
Owner May Carry: 1
Tenant Pays
Electricity: 1
Water: 1
Trash Collection: 1
Possession
Close Of Escrow: 1
Unit 1
Unit #: 1971 Apt 101
Occupied YN: Yes
Actual Rent: 1150
SqFt Total: 455
Beds Total: 1
Baths Total: 1
Unit 2
Unit #: 1971 Apt 102
Occupied YN: Yes
Actual Rent: 1100
SqFt Total: 455
Rooms Total: 1
Beds Total: 1
Unit 3
Unit #: 1971 Apt 103
Occupied YN: Yes
Actual Rent: 1350
SqFt Total: 455
Rooms Total: 1
Beds Total: 1
Unit 4
Unit #: 1969
Occupied YN: Yes
Actual Rent: 1100
SqFt Total: 455
Beds Total: 1
Baths Total: 1
Unit 5
Unit #: 1965
Occupied YN: Yes
Actual Rent: 720
SqFt Total: 480
Beds Total: 1
Baths Total: 1
Unit 6
Unit #: 1967
Occupied YN: Yes
Actual Rent: 1600
SqFt Total: 480
Beds Total: 2
Baths Total: 1
Unit 7
Occupied YN: Yes
Actual Rent: 1525
SqFt Total: 480
Rooms Total: 1
Beds Total: 2
Unit 8
Unit #: 1973
Occupied YN: Yes
Actual Rent: 1325
SqFt Total: 480
Beds Total: 1
Baths Total: 1
Unit 9
Unit #: 1975
Occupied YN: Yes
Actual Rent: 1325
SqFt Total: 480
Beds Total: 1
Baths Total: 1
Unit 10
Unit #: 1977
Occupied YN: Y
Actual Rent: 775
SqFt Total: 480
Beds Total: 1
Baths Total: 1
Construction Materials
Vinyl Siding: 1
Roof
Shingle: 1
Flat: 1
Other: 1
Electric
100 Amp Service: 1
Cooling
Ceiling Fan(s): 1
Separate Meters: 1
Heating
Baseboard: 1
Electric: 1
Water Heater
Electric: 1
Appliances
Water Heater: 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Parking Features
Paved: 1
Road Frontage Type
State Road: 1
Road Surface Type
Paved: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Monroe
Street Number: 1961&1971
Street Direction Prefix: W
Street Name: Main
Street Suffix: Street
City (Post Office): Stroudsburg
State: PA
Postal Code: 18360
Subdivision Name: None
Status Change Information
Purchase Contract Date: 2024-02-14
Close Date: 2024-05-07
Close Price: 1300000
Property Features
Listing Terms: Cash; Conventional; Owner May Carry
Tenant Pays: Electricity; Water; Trash Collection
Possession: Close Of Escrow
Construction Materials: Vinyl Siding
Roof: Shingle; Flat; Other
Electric: 100 Amp Service
Cooling: Ceiling Fan(s); Separate Meters
Heating: Baseboard; Electric
Appliances: Water Heater
Water Source: Public
Sewer: Public Sewer
Parking Features: Paved
Road Frontage Type: State Road
Road Surface Type: Paved
Road Responsibility: Public Maintained Road
Listing Office:
Redstone Run Realty, LLC - Stroudsburg
Last Updated: February - 14 - 2025
Information deemed reliable but not guaranteed.
