$499,000
$20k
522 524 River St, Scranton, PA 18505
- 8Beds
- 5Baths
- 7200SqFt
- 8Beds
- 5Baths
- 7200SqFt
- Property TypeCondo
- Year Built1919
- Price per Sqft$69
- On highrises33 Days
Property Details
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.
Property Features
Bedrooms
- Bedrooms: 8
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Jeremy J Watson
- state license#RM425357
- Brokered by:
- SIX PM LLC
- (570) 352-5162