$400,000
Lackawaxen, PA 18435
MLS# PW-262066
Status: Pending
5 beds | 5 baths | 2977 sqft
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Property Description
Exceptional Mixed-Use Investment Opportunity in the Heart of Lackawaxen! Ideally situated along highly traveled PA-590 just minutes from the historic Roebling Bridge, the scenic Delaware River, and endless outdoor recreation, this five-unit mixed-use property presents an outstanding opportunity for investors seeking immediate cash flow with exceptional value-add potential. Featuring one commercial storefront and four residential apartments, the property currently generates income from the four occupied residential units while the approximately 1,225-square-foot commercial storefront remains vacant, offering an immediate opportunity for owner occupancy or additional rental income. Based on the property's current income, it operates at an approximate 3.74% cap rate. Once the vacant storefront is leased at projected market rent, the property is projected to achieve an approximate 6.98% pro forma cap rate, with even greater upside available as all residential tenants are currently on month-to-month leases with rents below market value, allowing future owners the opportunity to further increase income and maximize returns over time. The first-floor commercial space encompasses approximately 1,225 square feet and offers exceptional flexibility for a retail business, office, gallery, café, professional services, or a variety of other permitted commercial uses. Rich in character, the space features beautiful oak hardwood floors, exposed wood beams, an impressive stone wood-burning fireplace, oversized bay display windows that flood the space with natural light, a half bath, and an adjoining room with its own private entrance that can be incorporated into the main storefront or utilized as additional office, retail, or storage space. Also on the first floor is a private two-bedroom apartment complete with its own entrance, kitchen, living room, full bath, and hardwood flooring throughout.
Details
Documents
Contract Information
Current Price: $400,000
List Price: $400,000
Status: Pending
Listing Contract Date: 2026-06-25
Property Sub Type: Multi Family
Property Attached YN: No
Listing Service: Full Service
Seller Offers Concessions YN: No
General Property Information
Number Of Buildings: 1
Number Of Units Total: 5
Bedrooms Total: 5
Bathrooms Total: 5
Bathrooms Full: 4
Bathrooms Half: 1
Above Grade Finished Area: 2977
Below Grade Unfinished Area: 1500
Living Area: 2977
Year Built: 1950
Year Built Source: Public Records
New Construction YN: No
Garage YN: Yes
Garage Spaces: 1
Lot Size Acres: 0.38
Association YN: No
Waterfront YN: No
Water Body Name: None
Basement YN: Yes
Stories: 2
Units Furnished: None
Fireplace YN: Yes
Spa YN: No
Senior Community YN: No
Rent Control YN: No
List Price/SqFt: 134.36
Remarks and Miscellaneous
Public Remarks: Exceptional Mixed-Use Investment Opportunity in the Heart of Lackawaxen! Ideally situated along highly traveled PA-590 just minutes from the historic Roebling Bridge, the scenic Delaware River, and endless outdoor recreation, this five-unit mixed-use property presents an outstanding opportunity for investors seeking immediate cash flow with exceptional value-add potential. Featuring one commercial storefront and four residential apartments, the property currently generates income from the four occupied residential units while the approximately 1,225-square-foot commercial storefront remains vacant, offering an immediate opportunity for owner occupancy or additional rental income. Based on the property's current income, it operates at an approximate 3.74% cap rate. Once the vacant storefront is leased at projected market rent, the property is projected to achieve an approximate 6.98% pro forma cap rate, with even greater upside available as all residential tenants are currently on month-to-month leases with rents below market value, allowing future owners the opportunity to further increase income and maximize returns over time. The first-floor commercial space encompasses approximately 1,225 square feet and offers exceptional flexibility for a retail business, office, gallery, café, professional services, or a variety of other permitted commercial uses. Rich in character, the space features beautiful oak hardwood floors, exposed wood beams, an impressive stone wood-burning fireplace, oversized bay display windows that flood the space with natural light, a half bath, and an adjoining room with its own private entrance that can be incorporated into the main storefront or utilized as additional office, retail, or storage space. Also on the first floor is a private two-bedroom apartment complete with its own entrance, kitchen, living room, full bath, and hardwood flooring throughout.
Fireplace Features
Fireplaces Total: 1
Income and Expenses
Annual Total Expense: 21502.8
Cap Rate: 6.98
Electric Expense: 4000
Gross Income: 56400
Insurance Expense: 3500
Net Operating Income: 34897
Trash Expense: 2100
Unit 1
Unit #: 1A
Actual Rent: 800
SqFt Total: 1225
Baths Total: 1
Rooms Total: 5
Dining Room YN: No
Kitchen YN: No
Living Room YN: Yes
Occupied YN: No
Unit Remarks: Store Front
Unit 2
Unit #: 1B
Actual Rent: 800
SqFt Total: 675
Baths Total: 1
Beds Total: 2
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Unit Remarks: Apartment 1
Unit 3
Unit #: 2
Actual Rent: 800
SqFt Total: 600
Baths Total: 1
Beds Total: 1
Rooms Total: 4
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Unit Remarks: Apartment 2
Unit 4
Unit #: 3
Actual Rent: 800
SqFt Total: 300
Baths Total: 1
Beds Total: 1
Dining Room YN: No
Kitchen YN: Yes
Occupied YN: Yes
Unit 5
Unit #: 4
Actual Rent: 800
SqFt Total: 300
Baths Total: 1
Beds Total: 1
Dining Room YN: No
Kitchen YN: Yes
Occupied YN: Yes
Unit Remarks: Studio Apartment 4
Meter Information
Number Of Separate Electric Meters: 4
Unit Details
Efficiency: 2
1 Bedroom: 1
2 Bedroom: 1
Storefront: 1
Location Tax and Legal
Street Number: 696
Street Name: Pennsylvania 590
County: Pike
State: PA
Postal Code: 18435
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2026-09-02T19:13:40Z
Major Change Type: Status Change
Price Change Timestamp: 2026-08-18T18:23:29Z
Purchase Contract Date: 2026-09-02
Property Features
Appliances: Electric Range; Gas Range; Refrigerator; Water Heater
Architectural Style: Other
Basement: Dirt Floor; Full; Storage Space; Walk-Out Access
Construction Materials: Frame; Wood Siding
Cooling: Wall Unit(s); Window Unit(s)
Current Use: Mixed Use; Multi-Family; Retail
Electric: 200+ Amp Service
Existing Lease Type: Oral
Exterior Features: Lighting; Private Entrance; Rain Gutters; Storage
Fencing: None
Financial Data Source: Owner
Fireplace Features: Stone; Wood Burning
Flooring: Hardwood
Foundation Details: Block; Stone
Heating: Baseboard; Forced Air; Propane
Interior Features: Beamed Ceilings; Bookcases; Built-in Features; High Speed Internet; On Site Septic; Open Floorplan; Storage; Walk-In Closet(s)
Levels: Two
Listing Terms: Cash; Conventional
Lot Features: Back Yard; Few Trees; Sloped
Operating Expense Includes: Insurance; Maintenance Grounds; Manager; Snow Removal; Trash; Utilities; Vacancy Allowance
Other Equipment: Negotiable
Owner Pays: Snow Removal; Taxes; Trash Collection
Parking Features: Driveway; Parking Lot
Patio And Porch Features: Covered; Front Porch; Wrap Around
Possession: Close Of Escrow
Road Frontage Type: State Road
Road Responsibility: Public Maintained Road
Road Surface Type: Paved
Roof: Asphalt; Shingle
Sewer: Engineered Septic
Structure Type: Mixed Use; Multi Family
Tenant Pays: Electricity
Utilities: Cable Available; Electricity Connected; Phone Available; Propane
Water Source: Well
Window Features: Double Pane Windows; ENERGY STAR Qualified Windows
Supplements
The second floor offers three additional apartments, each with private entrances, kitchens, living areas, and baths, creating diversified rental income and strong occupancy potential. Four separate electric meters allow the residential tenants to pay their own electric, while the commercial storefront currently shares electric with the first-floor apartment. The storefront is serviced by forced-air heat, while the residential units are heated by baseboard heat.
Outside, the property's rustic wood exterior blends beautifully with the natural surroundings and is complemented by an attractive stone foundation, covered front porch with bluestone walkways, private entrances for each tenant, generous front and rear parking areas, detached garage/storage space, private well, and an engineered septic system. Perfectly positioned just minutes from the Delaware River, Roebling Bridge, hiking trails, fishing, kayaking, and the many recreational destinations that make the Upper Delaware region so desirable, the location offers an ideal balance of visibility, convenience, and small-town charm while remaining an easy drive to Hawley, Milford, and commuter routes into New York and New Jersey.
Being offered As-Is as part of an estate, this is a rare opportunity to acquire a versatile mixed-use investment with multiple avenues for increasing value. Investors can immediately improve returns by leasing the vacant commercial storefront, while the below-market residential rents provide additional long-term upside beyond the projected pro forma. Whether you're looking to expand your investment portfolio, establish your own business while generating residential rental income, or reposition the property for stronger cash flow, this well-located mixed-use asset offers immediate income, substantial future earning potential, and a location that continues to attract both residents and businesses alike.
Lead-Based Paint Hazards Disclosure 
Listing Office: Keller Williams Realty Hudson Valley United
Last Updated: September - 02 - 2026
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