383 Old Route 940, Pocono Pines, PA 18350
$850,000
Property Type:
Residential Income
Square Footage:
9,948
Lot Size (sq. ft.):
80,586
Status:
Closed
Current Price:
$850,000
List Date:
4/18/2025
Last Modified:
6/02/2025
Description
What an opportunity! 10-unit apartment building in beautiful Pocono Pines, convenient to major highways and shopping for your tenants. Easy to rent, affordable housing is at a premium right now. ALL UNITS RENTED! 9 apartments in main building plus a separate building with totally renovated 2 bedroom ranch home with washer/dryer. Potential to add additional units
More Information MLS# PM-131273
Contract Information
Listing Service: Full Service
Subsurface Rights YN: No
Property Sub Type: Apartment
Sold Price: $850,000
Current Price: $850,000
Status: Closed
Listing Contract Date: 2025-04-10
Location, Tax, and Legal
Parcel Number: 19.9.2.17-2
Municipality: Tobyhanna Township
High School District: Pocono Mountain
County Tax Amount: 2317.66
Municipal Tax Amount: 846.28
School Tax Amount: 9414.87
Tax Other Annual Assessment Amount: 211.15
Tax Annual Amount: 12789.96
Tax Assessed Value: 423140
Tax Year: 2025
Tax Map Number: 19632504508459
Tax Book Number: 2662/3517
Deed Recording Date: 2024-12-19
Additional Parcels YN: Yes
Additional Parcels Description: Rear stand alone address is 385 Old Route 940. Property goes across the street.
Zoning: R1 Use apt 4+
Zoning Description: Multi-Family
Common Interest: None
Land Lease YN: No
General Property Information
Bathrooms Half: 0
Above Grade Finished Area: 8748
Below Grade Finished Area: 0
Living Area: 8748
Living Area Source: Estimated
Above Grade Unfinished Area: 0
Below Grade Unfinished Area: 1200
Building Area Source: Public Records
Stories: 3
Number Of Buildings: 3
Year Built Source: Public Records
Year Built Details: Building is historic.
Fireplace YN: No
Green Features YN: No
Units Furnished: None
Basement YN: Yes
Smart Home Features YN: No
Power Production/Storage YN: No
Pool Private YN: No
Spa YN: No
Garage YN: No
Carport YN: No
Open Parking YN: Yes
Open Parking Spaces: 10
Parking Total: 10
Lot Size Acres: 1.85
Lot Dimensions Source: Assessor
Horse YN: No
View YN: No
Water Body Access YN: No
Association YN: No
List Price/SqFt: 90.47
Sold Price/SqFt: 85.44
Bathrooms Full: 10
Building Area Total: 9948
Year Built: 1902
Currently Not Used
Number Of Units Total: 10
Remarks and Miscellaneous
Public Remarks: What an opportunity! 10-unit apartment building in beautiful Pocono Pines, convenient to major highways and shopping for your tenants. Easy to rent, affordable housing is at a premium right now. ALL UNITS RENTED! 9 apartments in main building plus a separate building with totally renovated 2 bedroom ranch home with washer/dryer. Potential to add additional units
Inclusions: Truck with plow in parking lot.
Unit Details
1 Bedroom: 3
2 Bedroom: 6
3 Bedroom: 1
Income and Expenses
Gross Income: 129900
Gross Scheduled Income: 129900
Total Actual Rent: 10825
Annual Total Expense: 31900
Insurance Expense: 9900
Electric Expense: 1500
Sewer Expense: 600
Trash Expense: 3300
Maintenance Expense: 3600
Special Listing Conditions
Standard: 1
Listing Terms
Cash: 1
Conventional: 1
1031 Exchange: 1
Owner Pays
Water: 1
Sewer: 1
Insurance: 1
Taxes: 1
Common Area Maintenance: 1
Exterior Maintenance: 1
HVAC Maintenance: 1
Roof Maintenance: 1
Repairs: 1
Grounds Care: 1
Snow Removal: 1
Trash Collection: 1
Tenant Pays
Electricity: 1
Hot Water: 1
Cable TV: 1
Income Includes
Rent Only: 1
Financial Data Source
Owner: 1
Possession
Close Of Escrow: 1
Common Walls
2+ Common Walls: 1
Current Use
Residential: 1
Architectural Style
Colonial: 1
Traditional: 1
Unit 1
Unit #: 1
Occupied YN: Yes
Actual Rent: 1300
SqFt Total: 805
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 2
Unit #: 101
Occupied YN: Yes
Actual Rent: 950
SqFt Total: 500
Rooms Total: 4
Beds Total: 1
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 3
Unit #: 102
Occupied YN: Yes
Actual Rent: 1200
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 4
Unit #: 103
Occupied YN: Yes
Actual Rent: 675
SqFt Total: 500
Rooms Total: 4
Beds Total: 1
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 5
Unit #: 201
Occupied YN: Yes
Actual Rent: 800
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit Remarks: Could be two units
Unit 6
Unit #: 202
Occupied YN: Yes
Actual Rent: 1500
SqFt Total: 850
Rooms Total: 6
Beds Total: 3
Baths Total: 3
Kitchen YN: Yes
Dining Room YN: Yes
Living Room YN: Yes
Unit 7
Unit #: 301
Occupied YN: Yes
Actual Rent: 1300
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 8
Unit #: 302
Occupied YN: Yes
Actual Rent: 1200
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 9
Unit #: 401
Occupied YN: Yes
Actual Rent: 950
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit 10
Unit #: 402
Occupied YN: Yes
Actual Rent: 950
SqFt Total: 575
Rooms Total: 5
Beds Total: 2
Baths Total: 1
Kitchen YN: Yes
Dining Room YN: No
Living Room YN: Yes
Unit Remarks: Totally renovated
Interior Features
Eat-in Kitchen: 1
Laminate Counters: 1
Storage: 1
Laundry Features
In Unit: 1
Flooring
Ceramic Tile: 1
Combination: 1
Vinyl: 1
Wood: 1
Door Features
Storm Door(s): 1
Construction Materials
Brick: 1
Stone: 1
Lap Siding: 1
Basement
Full: 1
Foundation Details
Stone: 1
Roof
Asphalt: 1
Shingle: 1
Heating
Baseboard: 1
Electric: 1
Appliances
Electric Oven: 1
Refrigerator: 1
Water Heater: 1
Range Hood: 1
Security Features
Closed Circuit Camera(s): 1
Fire Alarm: 1
Security Lights: 1
Security System Owned: 1
Smoke Detector(s): 1
Other Equipment
Call Listing Agent: 1
Water Source
Well: 1
Sewer
On Site Septic: 1
Septic Tank: 1
Holding Tank: 1
Meter Information
Number Of Separate Electric Meters: 11
Patio And Porch Features
Porch: 1
Rear Porch: 1
Parking Features
Unassigned: 1
Off Street: 1
Driveway: 1
Gravel: 1
Other Structures
Shed(s): 1
Storage: 1
Lot Features
Level: 1
Cleared: 1
Other: 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: 383
Street Name: Old Route 940
City (Post Office): Pocono Pines
State: PA
Postal Code: 18350
Subdivision Name: None
Status Change Information
Purchase Contract Date: 2025-04-26
Close Date: 2025-05-30
Close Price: 850000
Property Features
Special Listing Conditions: Standard
Listing Terms: Cash; Conventional; 1031 Exchange
Owner Pays: Water; Sewer; Insurance; Taxes; Common Area Maintenance; Exterior Maintenance; HVAC Maintenance; Roof Maintenance; Repairs; Grounds Care; Snow Removal; Trash Collection
Tenant Pays: Electricity; Hot Water; Cable TV
Income Includes: Rent Only
Financial Data Source: Owner
Possession: Close Of Escrow
Common Walls: 2+ Common Walls
Current Use: Residential
Architectural Style: Colonial; Traditional
Interior Features: Eat-in Kitchen; Laminate Counters; Storage
Laundry Features: In Unit
Flooring: Ceramic Tile; Combination; Vinyl; Wood
Door Features: Storm Door(s)
Construction Materials: Brick; Stone; Lap Siding
Basement: Full
Foundation Details: Stone
Roof: Asphalt; Shingle
Heating: Baseboard; Electric
Appliances: Electric Oven; Refrigerator; Range Hood; Water Heater
Security Features: Closed Circuit Camera(s); Fire Alarm; Security Lights; Security System Owned; Smoke Detector(s)
Other Equipment: Call Listing Agent
Water Source: Well
Sewer: On Site Septic; Septic Tank; Holding Tank
Patio And Porch Features: Porch; Rear Porch
Parking Features: Unassigned; Off Street; Driveway; Gravel
Other Structures: Shed(s); Storage
Lot Features: Level; Cleared; Other
Road Frontage Type: State Road
Road Surface Type: Paved
Road Responsibility: Public Maintained Road
Listing Office:
RE/MAX Crossroads
Last Updated: June - 02 - 2025
Information deemed reliable but not guaranteed.
