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Evergreens Apartments - corp. rental property 379 S Main St 6 Unit Apartment Building $930,000 ($155,000/Unit) 11.42% Cap Rate Montrose, PA 18801
INVESTMENT HIGHLIGHTS
- FULLY LEASED, CORPORATE RENTAL PROPERTY
EXECUTIVE SUMMARY
“The Evergreens” is a very well maintained, classically styled, efficiently configured & fully-leased apartment building containing 2 one-bedroom apartments and 4 two-bedroom apartments. Located in Montrose Pennsylvania, this property is located in the center of the Marcellus Shale region and the heart of natural gas & fracking industry. This property has been consistently been a primary rental location for several of the largest gas companies & their contractors at well above market rents due to limited housing in the region. New ownership can continue with the owner’s successful model which includes fully furnished units, a service providing linens, cleaning and other tenant amenities and a nightly / weekly leasing model which is well-suited to the gas industry.
This property offers off-street parking and on-site washer/dryer for tenant use. The Seller also owns the Wilson Street Apartments located in Montrose which is fully-leased and also available for purchase.
The list pricing has been established from current 2025 and an average of the past 3 years NOI and includes the management fee for the Seller to continue performing all management responsibilities for a new owner. Financial reporting available upon request.
This property offers off-street parking and on-site washer/dryer for tenant use. The Seller also owns the Wilson Street Apartments located in Montrose which is fully-leased and also available for purchase.
The list pricing has been established from current 2025 and an average of the past 3 years NOI and includes the management fee for the Seller to continue performing all management responsibilities for a new owner. Financial reporting available upon request.
PROPERTY FACTS
| Price | $930,000 | Apartment Style | Low-Rise |
| Price Per Unit | $155,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.71 AC |
| Cap Rate | 11.42% | Building Size | 6,000 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1950/2020 |
| Price | $930,000 |
| Price Per Unit | $155,000 |
| Sale Type | Investment |
| Cap Rate | 11.42% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.71 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2020 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 124.17-1-017.00-000 | Improvements Assessment | $33,500 |
| Land Assessment | $16,200 | Total Assessment | $49,700 |
PROPERTY TAXES
Parcel Number
124.17-1-017.00-000
Land Assessment
$16,200
Improvements Assessment
$33,500
Total Assessment
$49,700
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Evergreens Apartments - corp. rental property | 379 S Main St
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