North Sherman Street Apartments 58 N Sherman St 10 Unit Apartment Building $1,150,000 ($115,000/Unit) 8.85% Cap Rate Wilkes Barre, PA 18702

The subject property is a 10-unit multifamily complex consisting of two well-maintained apartment buildings located in Wilkes-Barre, Pennsylvania—a stable, workforce-driven rental market in the heart of the Wyoming Valley. Each unit features two bedrooms and one full bathroom, offering an attractive and functional layout that appeals to long-term tenants and local renters alike.
The property has undergone significant capital improvements over the past five years, including some units with new plumbing, electrical systems, heating units, hot water heaters, and roofs, providing investors with peace of mind and minimal near-term maintenance exposure. Nine of the ten units have been completely renovated, showcasing modern finishes, updated kitchens and baths, and durable flooring, which supports strong rental demand and premium market rents.
Tenants are responsible for all utilities except sewer and garbage, creating an efficient operating structure and reducing ownership expenses. With recent upgrades, stable occupancy, and opportunity to raise rents in a growing regional market, the property offers investors both reliable in-place income and future upside potential through continued rent optimization and value appreciation.
Situated near major employment centers, educational institutions, and key transportation corridors including I-81 and Route 309, this offering represents a turnkey multifamily investment positioned for consistent cash flow in one of Northeastern Pennsylvania’s most accessible and affordable submarkets.