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.