Student Housing – Wilkes Barre

77 W. Northampton Street; Wilkes-Barre, PA 18701

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Property Details

  • Price$ 750,000
  • Property TypeMulti Unit Housing
  • NeighborhoodNear Wilkes Univ
  • Number of Units10
  • Lot Size0.28 acres
  • Price/Unit$ 75,000
  • Price/Bedroom$ 21,429
  • Year Built1900

Investment Highlights

  • Desirable Locations: Properties Adjacent to Wilkes University Campus
  • Excellent Reputation: Strong Historical Occupancy Rates amid Changing Housing Market
  • Security & Fire Protection: Closed Circuit Video Monitors, Hardwired Alarms, and Sprinklered Throughout
  • On-Site Laundry Facilities: Common Laundry in Basements

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the simple interest in the Student Housing Portfolio at Wilkes University. The offering is comprised of two properties used for off-campus housing, both located directly adjacent to the Wilkes University Campus. There is a total of 10 units with 35 total student bedrooms arranged in 2, 3, 4 and 5 bedroom layouts.

84 West Ross Street is situated one block from the Wilkes University Student Center and half a block from the 75,000 square foot Arnaud C. Marts Center, regarded as one of the finest athletic facilities in the Mid-Atlantic Conference. The Ross Street building contains a total of 5 units and 13 total student bedrooms. There are (2) two-bedroom units, (2) four-bedroom units and (1) five-bedroom unit. Each unit features spacious bedrooms with carpeted floors and ample closet space. In addition, this building has experienced 100% historical occupancy and is fully leased for the 2017/2018 rental cycle. Recent capital improvements include exterior painting done in 2016, new water heaters in 2015 and a full renovation in 2005 which included a rebuilt roof.

Joan Henry Hall (77-79 W. Northampton Street) is located on the opposite end of campus from 84 W. Ross Street, sitting directly across from the Evans Hall dormitory and two blocks from the Wilkes-Barre Public Square. Joan Henry Hall is comprised of 6 total units and 22 student bedrooms. The unit mix consists of (2) three-bedroom units and (4) four-bedroom units. Building amenities include on-site laundry facilities, free wi-fi, closed circuit security cameras and individually controlled thermostats in each unit.

Offering Memorandum


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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
corey@rittenhouserealty.com

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492
ken@rittenhouserealty.com

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530
mark@rittenhouserealty.com

Luke DeLuca
Tel: (215) 454-2852 EXT 1014
Cell: (646) 712-7360
License: PA RSR001990
luke@rittenhouserealty.com

Tyler Martin
Tel: (215) 454-2852 EXT 1019
Cell: (717) 823-8033
License: PA RS335311
tyler@rittenhouserealty.com



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