28 Senate Dr

SCOPE Commercial Real Estate Investment Services is pleased to present The Mountain Top Apartments for sale. Located at 28 Senate Dr, Mountain Top, PA, this charming garden style apartment complex is nestled in the serene outlying Luzerne County submarket. Built in 1940 and recently renovated in 2022, the 20,900-square-foot multifamily property contains 22 well-maintained units. The property spans 4.55 acres and includes ample parking with 44 surface spaces. Conveniently located just a 32-minute drive from Wilkes-Barre/Scranton International Airport, this suburban location ensures a peaceful living environment while still being accessible. With its blend of comfort, convenience, and charm, 28 Senate Dr is an ideal investment opportunity in a growing market.
The Mountain Top Apartments consist of a total of 22 units, with an even split of one-bedroom, one-bathroom units and two-bedroom, one-bathroom units. The two-bedroom, one-bathroom units average 950 square feet, while the one-bedroom, one-bathroom units average 850 square feet. Of these, 14 units have been recently renovated, featuring new flooring, updated kitchens and bathrooms, fresh paint, and new lighting. These updates enhance tenant comfort and add significant value to the property.
Residents enjoy convenience and accessibility, with local grocery stores like Weis Markets, Carone’s Market, Schiel’s Family Market, and Price Chopper nearby. Educational institutions such as Wilkes University and King’s College are also within reach. The area is close to major employers like the Mountain Top Healthcare and Rehabilitation Center and Wilkes-Barre General Hospital. Amenities include parks, trails, shopping centers, and dining options in Wilkes-Barre. Retail options include Mountain Top Plaza and Wyoming Valley Mall. Dining options like Cavanaugh’s Grille and King’s Pizza, along with fitness facilities like Anytime Fitness and the Mountain Top Area Little League, provide a balanced lifestyle. Additional amenities include several banks, pharmacies, and parks.
In terms of accessibility to major cities, 28 Senate Dr is approximately 10 miles from Wilkes-Barre, 25 miles from Scranton, 115 miles from Philadelphia, and 125 miles from New York City. This strategic location offers residents the tranquility of suburban living while still being within a reasonable distance of major urban centers.
The demographics report for Mountain Top, PA, highlights a stable and affluent population. Within a 5-mile radius there are 16,442 residents with a median household income of $95,223. The 10-mile radius includes 133,060 residents with a median household income of $57,702. Housing has a median home value of $219,047.
Scranton, Pennsylvania, is the state’s eighth largest apartment market with around 9,300 rental units. The presence of universities like the University of Scranton and Marywood University drives consistent rental demand. The city’s growing economy and affordability attract new residents, boosting rental demand. Over the past three years, Scranton has seen a 9.4% increase in total employment, adding 23,000 new jobs. The vacancy rate has been consistently lower than the national average, currently at 4.3%. Limited new apartment development has led to annual rent growth of 3.0%, with high-end rentals growing at 4.5%. Despite these trends, Scranton’s rents remain affordable, with a one-bedroom apartment averaging $1,250 per month. With only two developments totaling 81 units in the proposal stage, the rental market is expected to remain tight.