110 Prospect Avenue, Scranton, PA 18505 (MLS# SC-1116)
110 Prospect Avenue, Scranton, PA 18505
$549,000
Property Type:
Residential Income
Bedrooms:
9
Baths:
5
Lot Size (sq. ft.):
5,663
Status:
Closed
Current Price:
$549,000
List Date:
2/18/2024
Last Modified:
9/11/2024
Description
Welcome to this exceptional multi-unit property, consisting of two buildings, that offer a blend of contemporary luxury and practicality in the heart of Scranton!
The front property was renovated in 2020. Each of the 2 units has 3 bedrooms and features new amenities including siding, roofing, windows, decks, electrical wiring, and plumbing. Hardwood floors throughout, complemented by the convenience of in-unit laundry facilities. The property is also equipped with a high-efficiency gas boiler and tankless hot water system, as well as spray foam insulation.
The rear property has a unique blend of spaces, making it a versatile investment opportunity! Boasting a commercial-sized garage spanning 3100 sq ft, features high ceilings and steel I-beams, providing a wide-open layout suitable for various business ventures or potential income. 2 commercial-sized garage doors, offering seamless access for vehicles and equipment. The professional office space is designed for accessibility, and offers separate water, electric, and gas services, with a Hot Dawg Commercial Gas Heater.
To live in or rent, the loft apartment over the garage offers luxury living. Indulge in the finest amenities, including 2 full bathrooms, a laundry room, and a wet bar for entertaining guests. The apartment boasts designer custom cabinetry, 25-ft ceilings, and hardwood floors. The master suite offers a steam shower, whirlpool tub, and spacious walk-in closet. Central air and high-efficiency gas heat ensure year-round comfort. Sprinklered throughout for safety, this luxury residence features two bedrooms and a loft, offering ample space for relaxation and entertainment. A tankless Rinnai Water Heater provides on-demand hot water, while stainless steel appliances add a touch of elegance to the gourmet kitchen. The property has separate meters for water, electric, and gas services.
Potential gross income of over $76,000!
Don't miss this unique investment opportunity!
More Information MLS# SC-1116
Contract Information
Current Price: $549,000
Sold Price: $549,000
Status: Closed
Listing Contract Date: 2024-02-17
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: SYNERGY PA ASSET GROUP LLC
Location Tax and Legal
Street Number: 110
Street Name: Prospect
Street Suffix: Avenue
State: PA
Postal Code: 18505
County: Lackawanna
General Property Information
Number Of Buildings: 2
Number Of Units Total: 4
Bedrooms Total: 9
Bathrooms Total: 5
Bathrooms Full: 4
Bathrooms Half: 1
Above Grade Finished Area: 4084
Below Grade Unfinished Area: 968
Living Area: 4084
Enhanced Accessible: No
Year Built: 1930
Year Built Source: Estimated
New Construction YN: No
Garage YN: Yes
Garage Spaces: 2
Parking Total: 2
Lot Size Acres: 0.13
Lot Size Dimensions: 40X140
Basement YN: Yes
Stories: 2
Auction YN: No
List Price/SqFt: 134.43
Sold Price/SqFt: 134.43
Remarks and Miscellaneous
Public Remarks: Welcome to this exceptional multi-unit property, consisting of two buildings, that offer a blend of contemporary luxury and practicality in the heart of Scranton!
The front property was renovated in 2020. Each of the 2 units has 3 bedrooms and features new amenities including siding, roofing, windows, decks, electrical wiring, and plumbing. Hardwood floors throughout, complemented by the convenience of in-unit laundry facilities. The property is also equipped with a high-efficiency gas boiler and tankless hot water system, as well as spray foam insulation.
The rear property has a unique blend of spaces, making it a versatile investment opportunity! Boasting a commercial-sized garage spanning 3100 sq ft, features high ceilings and steel I-beams, providing a wide-open layout suitable for various business ventures or potential income. 2 commercial-sized garage doors, offering seamless access for vehicles and equipment. The professional office space is designed for accessibility, and offers separate water, electric, and gas services, with a Hot Dawg Commercial Gas Heater.
To live in or rent, the loft apartment over the garage offers luxury living. Indulge in the finest amenities, including 2 full bathrooms, a laundry room, and a wet bar for entertaining guests. The apartment boasts designer custom cabinetry, 25-ft ceilings, and hardwood floors. The master suite offers a steam shower, whirlpool tub, and spacious walk-in closet. Central air and high-efficiency gas heat ensure year-round comfort. Sprinklered throughout for safety, this luxury residence features two bedrooms and a loft, offering ample space for relaxation and entertainment. A tankless Rinnai Water Heater provides on-demand hot water, while stainless steel appliances add a touch of elegance to the gourmet kitchen. The property has separate meters for water, electric, and gas services.
Potential gross income of over $76,000!
Don't miss this unique investment opportunity!
Status Change Information
Major Change Timestamp: 2024-03-22T13:45:40Z
Major Change Type: Status Change
Status Change Timestamp: 2024-03-22
Purchase Contract Date: 2024-02-28
Close Date: 2024-03-20
Close Price: 549000
Concessions: No
Buyer Financing: Conventional
Income and Expenses
Annual Total Expense: 9897
Electric Expense: 32.34
Gross Income: 35400
Insurance Expense: 3253
Other Expense: 66.71
Unit 1
Unit #: 1
Actual Rent: 1300
SqFt Total: 968
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Unit 2
Unit #: 2
Actual Rent: 1250
SqFt Total: 968
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Unit 3
Unit #: 3
SqFt Total: 1500
Baths Total: 2
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Unit 4
Unit #: 4
SqFt Total: 3116
Baths Total: 1
Dining Room YN: No
Kitchen YN: No
Living Room YN: No
Property Features
Basement: Full
Construction Materials: Stucco; Vinyl Siding
Cooling: Central Air
Current Use: Multi-Family
Heating: Natural Gas
Interior Features: Wet Bar
Listing Terms: Cash; Conventional
Property Condition: Updated/Remodeled
Road Surface Type: Paved
Roof: Shingle
Sewer: Public Sewer
Showing Requirements: Combination Lock Box; Showing Service
Structure Type: Mixed Use; Multi Family
Tenant Pays: Electricity; Gas; Water
Water Source: Public
Listing Office: Keller Williams Real Estate-Clarks Summit
Last Updated: September - 11 - 2024
Information deemed reliable but not guaranteed.