40 Pierce StKingston, PA 18704

For Sale
$799,000

High-Yield Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
93
This well-maintained, six-unit apartment building in Kingston, Pennsylvania presents a compelling value-add investment opportunity. Located in a desirable neighborhood near the vibrant downtown area, this three-story, 4,600 square foot building offers a strong pro-forma cap rate of 7.27% and a pro-forma NOI of $58,054. Built in 1940, the property sits on a 0.16-acre lot and is zoned residential. Each of the six units is designed for tenant comfort, featuring spacious layouts and modern amenities. A key advantage is that tenants are responsible for their own gas and heat, significantly reducing operating costs. Low property taxes in Kingston further enhance the net return on investment. The building's strategic location ensures high demand and stable occupancy rates, making it an attractive addition to any portfolio. The asking price is $799,000, translating to $173.70 per square foot and $133,167 per unit. This property combines consistent rental income with low maintenance requirements and proximity to Kingston's bustling downtown, offering both financial efficiency and potential for future appreciation. This is a smart and lucrative investment choice.

Highlights

  • Desirable Kingston location near vibrant downtown.
  • Six-unit apartment building in excellent condition.
  • High demand and stable occupancy due to prime location.
  • Spacious units with modern amenities attract quality tenants.
  • Tenants pay their own gas and heat, minimizing operating expenses.
  • Low Kingston property taxes maximize net operating income.

Property Details for 40 Pierce St

Property type
Multifamily properties, Apartment buildings
Square Feet
4,600 SF
Class
C
Year Built
1940
Buildings
1
Stories
3
Lot Size (sq. ft)
6,970 SF
Units
6

Location Insight

City
Kingston
County
Luzerne
State
Pennsylvania
Latitude
41.2654949
Longitude
-75.8907788
40 Pierce St, Kingston, Pennsylvania

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40 Pierce St
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