524 River Street

Scranton PA 18505

7200 sq. ft.

0.16 ac.

Multi-Family

Currently for sale - view listing

Overview

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.

Features

8 bedrooms

5 bathrooms

7200 sq. ft. floor area

0.16 ac. lot size

Multi-Family

Property history for 524 River Street

2015

Rented

Undisclosed

07 Mar 2015 by Classic Properties - Clark's Summit

2014

Rented

Undisclosed

15 Jun 2014 by Classic Properties - Clark's Summit

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