2448 Gap View Drive, East Stroudsburg, PA 18301
$530,000
Property Type:
Residential Income
Square Footage:
6,843
Lot Size (sq. ft.):
217,800
Status:
Closed
Current Price:
$530,000
List Date:
5/05/2022
Last Modified:
3/13/2025
Description
PROPERTY IS UNDER CONTRACT BUT ACCEPTING BACK UP OFFERS. Incredible investment opportunity on this 10 unit residential rental property, 3 buildings encompassing 5 acres with 2 brand new septic systems. One building has 6 units; 2nd building has 3 units and rounding off this bundle is the cottage; there's parking for 15+ vehicles and is close to the highways for easy commuting. 95% occupancy over 20 years with a 9% cap rate.
More Information MLS# PM-96781
Contract Information
Listing Service: Full Service
Property Sub Type: Multi Family
Sold Price: $530,000
Current Price: $530,000
Status: Closed
Listing Contract Date: 2022-05-04
Location, Tax, and Legal
Parcel Number: 16.7.3.10
Municipality: Smithfield Township
High School District: East Stroudsburg Area
Cnty&Muni Taxes (Legacy): 1606.39
School Tax Amount: 11970.47
Tax Annual Amount: 13576.86
Tax Assessed Value: 382810
Tax Book Number: 2140/5745
Zoning Description: Residential
General Property Information
Building Area Source: Estimated
Stories: 2
Number Of Buildings: 3
Basement YN: Yes
Parking Total: 16
Lot Size Acres: 5
List Price/SqFt: 87.68
Sold Price/SqFt: 77.45
Building Area Total: 6843
Year Built: 1928
Currently Not Used
Number Of Units Total: 10
Remarks and Miscellaneous
Public Historical Remarks: Type: Built as Apartment, Kitchens: SemiMod, Bathrooms: SemiMod, Miscellaneous: Zoning Code Residential, Current Use: Residential, Miscellaneous: Cert of Occ Req'd Yes
Public Remarks: PROPERTY IS UNDER CONTRACT BUT ACCEPTING BACK UP OFFERS. Incredible investment opportunity on this 10 unit residential rental property, 3 buildings encompassing 5 acres with 2 brand new septic systems. One building has 6 units; 2nd building has 3 units and rounding off this bundle is the cottage; there's parking for 15+ vehicles and is close to the highways for easy commuting. 95% occupancy over 20 years with a 9% cap rate.
Income and Expenses
Gross Income: 88620
Net Operating Income: 47391
Operating Expense: 5129
Insurance Expense: 4764
New Taxes Expense: 13236
Manager Expense: 4431
Heat Expense: 3749
Trash Expense: 2520
Maintenance Expense: 310
Other Expense: 3545
Listing Terms
Cash: 1
Conventional: 1
Possession
Close Of Escrow: 1
Construction Materials
Aluminum Siding: 1
Roof
Shingle: 1
Other: 1
Electric
200+ Amp Service: 1
Cooling
Ceiling Fan(s): 1
Wall/Window Unit(s): 1
None: 1
Heating
Hot Water: 1
Oil: 1
Water Heater
Electric: 1
Appliances
Water Heater: 1
Security Features
Smoke Detector(s): 1
Water Source
Well: 1
Sewer
Septic Tank: 1
Parking Features
Paved: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
See Remarks: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Monroe
Street Number: 2448
Street Name: Gap View
Street Suffix: Drive
City (Post Office): East Stroudsburg
State: PA
Postal Code: 18301
Subdivision Name: None
Status Change Information
Purchase Contract Date: 2022-07-04
Close Date: 2022-08-05
Close Price: 530000
Property Features
Listing Terms: Cash; Conventional
Possession: Close Of Escrow
Construction Materials: Aluminum Siding
Roof: Shingle; Other
Electric: 200+ Amp Service
Cooling: Ceiling Fan(s); Wall/Window Unit(s); None
Heating: Hot Water; Oil
Appliances: Water Heater
Security Features: Smoke Detector(s)
Water Source: Well
Sewer: Septic Tank
Parking Features: Paved
Road Frontage Type: City Street
Road Surface Type: Paved; See Remarks
Road Responsibility: Public Maintained Road
Listing Office:
Classic Properties - Mountainhome
Last Updated: March - 13 - 2025
Information deemed reliable but not guaranteed.
