522 Spring Street, Hawley, PA 18428

$6,000,000
Property Type: Commercial Sale Square Footage: 36,223 Status: Active
Current Price: $6,000,000 List Date: 3/18/2026 Last Modified: 3/26/2026

Overview

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.

Listing Details MLS# PW-260561

General Property Information

Number Of Buildings
7
Number Of Units Total
34
Building Area Total
36223
Living Area
36223
Year Built
1940
Year Built Details
See Attached Property Discription in Documents
Building Name
Eagle Village Apartments
Lot Size Acres
2.96
Waterfront YN
No
Water Body Name
None
Basement YN
Yes
Stories
3
List Price/SqFt
165.64

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

Contract Information

Listing Contract Date
2026-03-18
Property Sub Type
Multi Family
Property Attached YN
Yes
Listing Service
Full Service
Environmental Survey YN
No

Location Tax and Legal

Street Number
522
Street Name
Spring
Street Suffix
Street
County
Wayne
State
PA
Postal Code
18428
Subdivision Name
None

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.

Status Change Information

Major Change Timestamp
2026-03-18T19:11:33Z
Major Change Type
New Listing

More Information

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

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

Basement

Unfinished
Yes

Community Features

Airport/Runway
Yes
Fishing
Yes
Fitness Center
Yes
Lake
Yes
Park
Yes
Playground
Yes
Restaurant
Yes
Sidewalks
Yes
Street Lights
Yes
Tennis Court(s)
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Other
Yes

Current Use

Multi-Family
Yes
Residential
Yes

Heating

Electric
Yes
Natural Gas
Yes

Parking Features

Additional Parking
Yes
Driveway
Yes
Gravel
Yes
Off Street
Yes
Outside
Yes
Parking Lot
Yes
Unpaved
Yes

Road Frontage Type

City Street
Yes

Road Surface Type

Paved
Yes

Sewer

Public Sewer
Yes

Structure Type

Multi Family
Yes

Water Source

Public
Yes

Business Type

Real Estate
Yes
Rental
Yes
Residential
Yes

Owner Pays

Gas
Yes
Insurance
Yes
Pest Control
Yes
Sewer
Yes
Water
Yes

Possible Use

Multi-Family
Yes
Residential
Yes

Tenant Pays

Cable TV
Yes
Electricity
Yes
Listing Office: Davis R. Chant - Lake Wallenpaupack
Last Updated: March - 26 - 2026
Information displayed on this website on listings other than those of the website owner is displayed with permission of the Pike Wayne Association of REALTORS and Broker/Participants of the Pike Wayne MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is from sources deemed reliable but is not guaranteed. Prospective buyers should verify information independently.