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Listed by Jeremy J Watson SIX PM LLC
$489,000
Est. payment /mo
8 Beds
5 Baths
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Municipality City Of Scranton
MLS Listing ID PW-251537
Bedrooms 8
Full Baths 5
HOA Y/N false
Year Built 1919
Property Sub-Type Apartment
Source Pike/Wayne Association of REALTORS®
Property Description
Turnkey 5-Unit Investment Opportunity on River Street
Fully occupied and generating over $54,600 in annual gross income, this well-maintained 5-unit complex is a strong, cash-flowing asset. Four of the five units have been extensively upgraded with modern kitchens featuring granite countertops and new appliances, updated flooring, fresh paint, and remodeled bathrooms—providing quality living spaces tenants appreciate.
Each unit is separately metered, with tenants responsible for their own electric (including heat and hot water). Water is sub-metered and can be billed back, optimizing your utility cost management. The building offers coded front and rear entry for both security and ease of access.
Additional highlights include a large backyard and rear off-street parking for tenant convenience.
Bonus Value-Add Potential:
Unlock even more income with the property's expansive walk-up attic, offering the perfect canvas for future apartment conversions, premium storage units, or creative revenue streams. With the right vision and upgrades, this untapped space could dramatically increase long-term returns. Additionally, the full-height basement provides an excellent opportunity to install tenant storage lockers or other rentable features, adding immediate, low-maintenance monthly income.
Owner is a Licensed RE Broker.
Fully occupied and generating over $54,600 in annual gross income, this well-maintained 5-unit complex is a strong, cash-flowing asset. Four of the five units have been extensively upgraded with modern kitchens featuring granite countertops and new appliances, updated flooring, fresh paint, and remodeled bathrooms—providing quality living spaces tenants appreciate.
Each unit is separately metered, with tenants responsible for their own electric (including heat and hot water). Water is sub-metered and can be billed back, optimizing your utility cost management. The building offers coded front and rear entry for both security and ease of access.
Additional highlights include a large backyard and rear off-street parking for tenant convenience.
Bonus Value-Add Potential:
Unlock even more income with the property's expansive walk-up attic, offering the perfect canvas for future apartment conversions, premium storage units, or creative revenue streams. With the right vision and upgrades, this untapped space could dramatically increase long-term returns. Additionally, the full-height basement provides an excellent opportunity to install tenant storage lockers or other rentable features, adding immediate, low-maintenance monthly income.
Owner is a Licensed RE Broker.
Location
State PA
County Lackawanna
Zoning Residential
Rooms
Basement Full, Unfinished
Interior
Heating Baseboard, Electric
Cooling Ceiling Fan(s)
Flooring Luxury Vinyl
Exterior
Exterior Feature Balcony, Private Yard
Parking Features Alley Access
View Y/N No
Garage No
Building
Sewer Public Sewer
Water Public
Others
Tax ID 15616040055
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