696 Pennsylvania 590, Lackawaxen, PA 18435 (MLS# PW-262066)

696 Pennsylvania 590, Lackawaxen, PA 18435

New Listing

$499,900

Property Type: Residential Income Bedrooms: 5 Baths: 5 Square Footage: 2,977 Status: Active

Current Price: $499,900 List Date: 6/25/2026 Last Modified: 6/29/2026

Overview

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 ... (Read more)

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 ... (Read more)

Listing Details MLS# PW-262066

General Property Information

Number Of Buildings: Yes
Number Of Units Total: 5
Bedrooms Total: 5
Bathrooms Total: 5
Bathrooms Full: 4
Bathrooms Half: Yes
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: Yes
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: 167.92
Below Grade Finished Area: 0

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

Contract Information

Listing Contract Date: 2026-06-25
Property Sub Type: Multi Family
Property Attached YN: No
Listing Service: Full Service
Seller Offers Concessions YN: No

Location Tax and Legal

Street Number: 696
Street Name: Pennsylvania 590
County: Pike
State: PA
Postal Code: 18435
Subdivision Name: None

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.

Status Change Information

Major Change Timestamp: 2026-06-25T23:29:30Z
Major Change Type: New Listing

More Information

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
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
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
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
Dining Room YN: No
Kitchen YN: Yes
Occupied YN: Yes

Unit 5

Unit #: 4
Actual Rent: 800
SqFt Total: 300
Dining Room YN: No
Kitchen YN: Yes
Occupied YN: Yes
Unit Remarks: Studio Apartment 4

Unit Details

Efficiency: 2
1 Bedroom: Yes
2 Bedroom: Yes
Storefront: Yes

Fireplace Features

Fireplaces Total: Yes
Stone: Yes
Wood Burning: Yes

Meter Information

Number Of Separate Electric Meters: 4

Location, Tax, and Legal

Municipality: Lackawaxen Township - 05
High School District: Wallenpaupack School District
County Tax Amount: 796.6
Municipal Tax Amount: 234.8
School Tax Amount: 2517.95
Tax Annual Amount: 3762.8
Tax Year: 2026
Tax Assessed Value: 28460
Parcel Number: 019.04-01-52 024576
Additional Parcels YN: No
Zoning Description: Multi-Family
Tax Book Number: 1914

Appliances

Electric Range: Yes
Gas Range: Yes
Refrigerator: Yes
Water Heater: Yes

Architectural Style

Other: Yes

Basement

Dirt Floor: Yes
Full: Yes
Storage Space: Yes
Walk-Out Access: Yes

Construction Materials

Frame: Yes
Wood Siding: Yes

Cooling

Wall Unit(s): Yes
Window Unit(s): Yes

Current Use

Mixed Use: Yes
Multi-Family: Yes
Retail: Yes

Electric

200+ Amp Service: Yes

Exterior Features

Lighting: Yes
Private Entrance: Yes
Rain Gutters: Yes
Storage: Yes

Fencing

None: Yes

Flooring

Hardwood: Yes

Foundation Details

Block: Yes
Stone: Yes

Heating

Baseboard: Yes
Forced Air: Yes
Propane: Yes

Interior Features

Beamed Ceilings: Yes
Bookcases: Yes
Built-in Features: Yes
High Speed Internet: Yes
On Site Septic: Yes
Open Floorplan: Yes
Storage: Yes
Walk-In Closet(s): Yes

Levels

Two: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Lot Features

Back Yard: Yes
Few Trees: Yes
Sloped: Yes

Other Equipment

Negotiable: Yes

Parking Features

Driveway: Yes
Parking Lot: Yes

Patio And Porch Features

Covered: Yes
Front Porch: Yes
Wrap Around: Yes

Possession

Close Of Escrow: Yes

Road Frontage Type

State Road: Yes

Road Responsibility

Public Maintained Road: Yes

Road Surface Type

Paved: Yes

Roof

Asphalt: Yes
Shingle: Yes

Sewer

Engineered Septic: Yes

Structure Type

Mixed Use: Yes
Multi Family: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Phone Available: Yes
Propane: Yes

Water Source

Well: Yes

Window Features

Double Pane Windows: Yes
ENERGY STAR Qualified Windows: Yes

Owner Pays

Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes

Tenant Pays

Electricity: Yes

Existing Lease Type

Oral: Yes

Financial Data Source

Owner: Yes

Operating Expense Includes

Insurance: Yes
Maintenance Grounds: Yes
Manager: Yes
Snow Removal: Yes
Trash: Yes
Utilities: Yes
Vacancy Allowance: Yes

Documents

Lead-Based Paint Hazards Disclosure ›

Listing Office: Keller Williams Realty Hudson Valley United

Last Updated: June - 29 - 2026

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