141 Bellemonte Ave - Apartments FOR SALE


Hawley, PA 18428
$6,000,000 USD
570-226-4518
141 Bellemonte Ave, Hawley, PA for Sale
$6,000,000 USD
Apartments - FOR SALE
1/118
null | 7.41% Cap Rate

141 Bellemonte Ave
Hawley, PA 18428


HIGHLIGHTS

  • Downtown Hawley, Walking distance to shops, stores, banks, coffee shops, restaurants, etc.
  • Remodeled Apartments
  • Nearby industry, highly rated school district, Lake Wallenpaupack, college, etc.

OVERVIEW

Presented exclusively for qualified investors, this offering represents a rare opportunity to acquire a 34-unit multifamily residential portfolio located in Hawley, Pennsylvania, the commercial hub of Wayne County and gateway community to the Pocono Mountains region. The portfolio comprises two distinct residential components: Eagle Village Apartments, a concentrated multifamily complex at 516, 520, and 522 Spring St; and The Heights at Bellemonte / School Avenue, a collection of residential apartment buildings at 141-147 Bellemonte Avenue and 155 School Avenue. Together, these properties generate $593,940 in annual gross scheduled rent from 34 well-maintained residential units, supplemented by $4,200 in annual laundry income, for a total Gross Potential Income of $598,140. The portfolio is currently 91.2% occupied (31 of 34 units), with three vacant two-bedroom units representing immediate lease-up upside. The seller reports an owner's NOI of approximately $444,400, reflecting a lean expense ratio of 25.7%, significantly below the multifamily industry average of 35%-50%, driven by the portfolio's efficient cost structure and increasing tenant utility responsibility. The portfolio offers a compelling combination of current cash flow, near-term value-add opportunity, and favorable positioning in a growing Pennsylvania market. With the Pocono Mountains region attracting continued residential demand from remote workers, retirees, and tourism-adjacent renters, Hawley's majority-renter community supports a stable tenant base for sustained investment performance.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$281 USD /SF

# OF UNITS

34

PRICE/UNIT

$176,471

CAP RATE

7.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eagle Village Apartments and Condominuims

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

PARKING SPACES

48

LAND DETAILS

LAND ACRES

2.84 AC

LAND SF

123,710 SF

ZONING

C-1

APN/PARCEL ID

011724

ASK ABOUT THIS PROPERTY

Will ClaussDavis R. Chant RealtorsMore Info
570-226-4518

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Will ClaussDavis R. Chant RealtorsMore Info
570-226-4518

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.