Pikeliving


$6,000,000
522 Spring Street
Hawley, PA 18428
MLS# PW-260561
36223 sqft


Eagle Village Apartments
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Property Description
Presented exclusively for qualified investors, this offering represents a rare opportunity to acquire a 34-unit multifamily residential portfolio located in Hawley, Pennsylvania, the commercial hub of Wayne County and gateway community to the Pocono Mountains region. The portfolio comprises two distinct residential components: Eagle Village Apartments, a concentrated multifamily complex at 516, 520, and 522 Spring St; and The Heights at Bellemonte / School Avenue, a collection of residential apartment buildings at 141-147 Bellemonte Avenue and 155 School Avenue. Together, these properties generate $593,940 in annual gross scheduled rent from 34 well-maintained residential units, supplemented by $4,200 in annual laundry income, for a total Gross Potential Income of $598,140. The portfolio is currently 91.2% occupied (31 of 34 units), with three vacant two-bedroom units representing immediate lease-up upside. The seller reports an owner's NOI of approximately $444,400, reflecting a lean expense ratio of 25.7%, significantly below the multifamily industry average of 35%-50%, driven by the portfolio's efficient cost structure and increasing tenant utility responsibility. The portfolio offers a compelling combination of current cash flow, near-term value-add opportunity, and favorable positioning in a growing Pennsylvania market. With the Pocono Mountains region attracting continued residential demand from remote workers, retirees, and tourism-adjacent renters, Hawley's majority-renter community supports a stable tenant base for sustained investment performance.

Details
Contract Information
Property Attached YN: Yes
Listing Service: Full Service
Environmental Survey YN: No
Current Price: $6,000,000
List Price: $6,000,000
Status: Active
Listing Contract Date: 2026-03-18
Property Sub Type: Multi Family
Location, Tax, and Legal
Street Additional Info: See Addendum
Municipality: Hawley Borough
City Region: Hawley
High School District: Wallenpaupack School District
County Tax Amount: 7517.36
Municipal Tax Amount: 7767.72
School Tax Amount: 23162.89
Tax Annual Amount: 38447.97
Tax Year: 2026
Tax Assessed Value: 2158300
Parcel Number: 10-0-0004-0178
Additional Parcels YN: Yes
Additional Parcels Description: See Attached Property Description in Documents
Tax Book Number: 6482/648
General Property Information
Number Of Buildings: 7
Number Of Units Total: 34
Building Area Total: 36223
Lot Size Acres: 2.96
Year Built Details: See Attached Property Discription in Documents
Building Name: Eagle Village Apartments
Waterfront YN: No
Water Body Name: None
Basement YN: Yes
Stories: 3
List Price/SqFt: 165.64
Living Area: 36223
Year Built: 1940
Remarks and Miscellaneous
Public Remarks: Presented exclusively for qualified investors, this offering represents a rare opportunity to acquire a 34-unit multifamily residential portfolio located in Hawley, Pennsylvania, the commercial hub of Wayne County and gateway community to the Pocono Mountains region. The portfolio comprises two distinct residential components: Eagle Village Apartments, a concentrated multifamily complex at 516, 520, and 522 Spring St; and The Heights at Bellemonte / School Avenue, a collection of residential apartment buildings at 141-147 Bellemonte Avenue and 155 School Avenue. Together, these properties generate $593,940 in annual gross scheduled rent from 34 well-maintained residential units, supplemented by $4,200 in annual laundry income, for a total Gross Potential Income of $598,140. The portfolio is currently 91.2% occupied (31 of 34 units), with three vacant two-bedroom units representing immediate lease-up upside. The seller reports an owner's NOI of approximately $444,400, reflecting a lean expense ratio of 25.7%, significantly below the multifamily industry average of 35%-50%, driven by the portfolio's efficient cost structure and increasing tenant utility responsibility. The portfolio offers a compelling combination of current cash flow, near-term value-add opportunity, and favorable positioning in a growing Pennsylvania market. With the Pocono Mountains region attracting continued residential demand from remote workers, retirees, and tourism-adjacent renters, Hawley's majority-renter community supports a stable tenant base for sustained investment performance.
Basement
Unfinished: 1
Community Features
Airport/Runway: 1
Fishing: 1
Fitness Center: 1
Lake: 1
Park: 1
Playground: 1
Restaurant: 1
Sidewalks: 1
Street Lights: 1
Tennis Court(s): 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Other: 1
Current Use
Multi-Family: 1
Residential: 1
Heating
Electric: 1
Natural Gas: 1
Parking Features
Additional Parking: 1
Driveway: 1
Gravel: 1
Off Street: 1
Outside: 1
Parking Lot: 1
Unpaved: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Sewer
Public Sewer: 1
Structure Type
Multi Family: 1
Water Source
Public: 1
Income and Expenses
Annual Total Expense: 15378
Electric Expense: 7652
Fuel Expense: 21994
Gross Scheduled Income: 593940
Insurance Expense: 26888
Sewer Expense: 26026
Trash Expense: 5294
Water Expense: 20147
Business Type
Real Estate: 1
Rental: 1
Residential: 1
Owner Pays
Gas: 1
Insurance: 1
Pest Control: 1
Sewer: 1
Water: 1
Possible Use
Multi-Family: 1
Residential: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Location Tax and Legal
Street Number: 522
Street Name: Spring
Street Suffix: Street
County: Wayne
State: PA
Postal Code: 18428
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2026-03-18T19:11:33Z
Major Change Type: New Listing
Property Features
Basement: Unfinished
Business Type: Real Estate; Rental; Residential
Community Features: Airport/Runway; Fishing; Fitness Center; Lake; Park; Playground; Restaurant; Sidewalks; Street Lights; Tennis Court(s)
Cooling: Ceiling Fan(s); Central Air; Other
Current Use: Multi-Family; Residential
Heating: Electric; Natural Gas
Owner Pays: Gas; Insurance; Pest Control; Sewer; Water
Parking Features: Additional Parking; Driveway; Gravel; Off Street; Outside; Parking Lot; Unpaved
Possible Use: Multi-Family; Residential
Road Frontage Type: City Street
Road Surface Type: Paved
Sewer: Public Sewer
Structure Type: Multi Family
Tenant Pays: Cable TV; Electricity
Water Source: Public

Listing Office: Davis R. Chant - Lake Wallenpaupack

Last Updated: March - 18 - 2026

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