1961&1971 W Main Street, Stroudsburg, PA 18360 (MLS# PM-112423)

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

Overview

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!

Listing Details MLS# PM-112423

General Property Information

Building Area Total: 8680
Building Area Source: Public Records
Stories: Yes
Number Of Buildings: 10
Year Built: 1954
Basement YN: No
Lot Size Acres: 0.9
List Price/SqFt: 149.19
Sold Price/SqFt: 149.77

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

Contract Information

Property Sub Type: Multi Family
Listing Contract Date: 2024-01-30
Listing Service: Full Service

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

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!

Status Change Information

Purchase Contract Date: 2024-02-14
Close Date: 2024-05-07
Close Price: 1300000

More Information

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

Unit 1

Unit #: 1971 Apt 101
Occupied YN: Yes
Actual Rent: 1150
SqFt Total: 455

Unit 2

Unit #: 1971 Apt 102
Occupied YN: Yes
Actual Rent: 1100
SqFt Total: 455
Rooms Total: Yes

Unit 3

Unit #: 1971 Apt 103
Occupied YN: Yes
Actual Rent: 1350
SqFt Total: 455
Rooms Total: Yes

Unit 4

Unit #: 1969
Occupied YN: Yes
Actual Rent: 1100
SqFt Total: 455

Unit 5

Unit #: 1965
Occupied YN: Yes
Actual Rent: 720
SqFt Total: 480

Unit 6

Unit #: 1967
Occupied YN: Yes
Actual Rent: 1600
SqFt Total: 480

Unit 7

Occupied YN: Yes
Actual Rent: 1525
SqFt Total: 480
Rooms Total: Yes

Unit 8

Unit #: 1973
Occupied YN: Yes
Actual Rent: 1325
SqFt Total: 480

Unit 9

Unit #: 1975
Occupied YN: Yes
Actual Rent: 1325
SqFt Total: 480

Unit 10

Unit #: 1977
Occupied YN: Y
Actual Rent: 775
SqFt Total: 480

Unit Details

1 Bedroom: 10
2 Bedroom: 4

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

Currently Not Used

Number Of Units Total: 14

Listing Terms

Cash: Yes
Conventional: Yes
Owner May Carry: Yes

Tenant Pays

Electricity: Yes
Water: Yes
Trash Collection: Yes

Possession

Close Of Escrow: Yes

Construction Materials

Vinyl Siding: Yes

Roof

Shingle: Yes
Flat: Yes
Other: Yes

Electric

100 Amp Service: Yes

Cooling

Ceiling Fan(s): Yes
Separate Meters: Yes

Heating

Baseboard: Yes
Electric: Yes

Water Heater

Electric: Yes

Appliances

Water Heater: Yes

Water Source

Public: Yes

Sewer

Public Sewer: Yes

Parking Features

Paved: Yes

Road Frontage Type

State Road: Yes

Road Surface Type

Paved: Yes

Road Responsibility

Public Maintained Road: Yes

Listing Office: Redstone Run Realty, LLC - Stroudsburg

Last Updated: February - 14 - 2025

Information deemed reliable but not guaranteed.

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1961&1971 W Main Street, Stroudsburg, PA 18360 (MLS# PM-112423)