522 524 River Street, Scranton, PA 18505
sale
$489,000
|
Apartment
Courtesy Of Park Place Real Estate
Turnkey 5-Unit Investment Opportunity on River StreetFully 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.
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Copyright © 2025 Pike/Wayne Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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.
Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Amenities: Basement
- Appliance: Electric Oven
- Appliance: Microwave
- Appliance: Refrigerator
- Building Units: 5
- Cooling System: Ceiling Fan(s)
- Floor Covering: Vinyl
- Floors: 3
- Heating System: Baseboard
- Heating System: Electric (Heating)
- MLSID: PW-251537
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Basement
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- Rooms: Bedroom 7
- Rooms: Bedroom 6
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bedroom 8
- Rooms: Bathroom 1
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
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