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PRICE $3,000,000 SIZE 36,374 sqft LOT SIZE 21,345 sqft Request More Info Schedule a Showing

Introducing, Aldor Apartments, a 21-unit multifamily property located at 175 N Vine Street in Hazleton, Pennsylvania. The property sits in Luzerne County at the crossroads of Interstates 80 and 81, drawing its renter base from the warehouse, distribution, and light manufacturing workforce that dominates the local economy. On the corner of North Vine and West Magnolia Streets, the property gives residents a short drive of downtown Hazleton, daily retail, and the region's primary employment centers. The Aldor Apartments consists of (2) studio units averaging 400 square feet with average rents of $875 per month, (1) one-bedroom, one-bath unit at 550 square feet renting for $975 per month, (17) two-bedroom, one-and-a-half-bath units averaging 997 square feet with average rents of $1,260 per month, and (1) three-bedroom, one-and-a-half-bath unit at 1,150 square feet renting for $1,300 per month. Total rentable area is 19,450 square feet, or 926 square feet per unit. Value-add here comes in two stages. Unrenovated comps are achieving $1,499 to $1,500 for two-bedrooms, supporting roughly 20 percent upside on turnover alone. Renovated product is achieving up to $2,034, putting another 6 percent within reach through kitchen and bath upgrades. Constructed in 1963 and renovated in 2021, the four-story brick building is elevator-served and includes 18 enclosed garage spaces built into the ground floor of the building, plus 10 surface spaces, providing residents covered parking that few competing assets in the submarket can offer. At 997 square feet, the two-bedrooms are among the largest in the competitive set, supporting premium rents post-renovation. On-site laundry contributes additional income. Ownership pays for gas, water, sewer, and trash, with 95+ percent of those costs recovered through tenant reimbursements. Hazleton's economy centers on Humboldt Industrial Park, with direct access to Interstates 80 and 81. Tenants include Amazon, American Eagle Outfitters, Hershey, AutoZone, General Mills, and Coca-Cola. Developer CAN DO counts 120 industries and 30,000 jobs created across its parks. Lehigh Valley Health Network's Hazleton campus anchors the healthcare sector, and ongoing infrastructure investment, including the PA Route 424 extension, continues to improve regional connectivity.