1202 W 1204 1206 Elm Street, Scranton, PA 18504 (MLS# SC-4933)
1202 W 1204 1206 Elm Street, Scranton, PA 18504
$570,000
Property Type:
Residential Income
Bedrooms:
12
Baths:
4
Lot Size (sq. ft.):
5,227
Status:
Closed
Current Price:
$570,000
List Date:
9/20/2024
Last Modified:
11/13/2024
Description
Investors, don't get stuck in analysis paralysis on this one... This turn-key property is not a sham and is basically new construction. If no maintenance and high cash flow are what you've been looking for, read on. 1 beautiful building featuring 4 units, 3 bedrooms in each, rented on annual leases, great tenants, on-site laundry room, SEPARATE utilities, central air, wonderfully maintained, & countless upgrades. Each unit curently rented at 1300-1350 for an annual rental income of 63,000.
More Information MLS# SC-4933
Contract Information
Current Price: $570,000
Sold Price: $570,000
Status: Closed
Listing Contract Date: 2024-09-20
Property Sub Type: Quadruplex
Listing Agreement: Exclusive Right To Sell
Owner Name: Joseph and Landa Propato
Location Tax and Legal
Street Number: 1202
Street Direction Prefix: W
Street Name: 1204 1206 Elm
Street Suffix: Street
State: PA
Postal Code: 18504
County: Lackawanna
General Property Information
Number Of Units Total: 4
Bedrooms Total: 12
Bathrooms Total: 4
Bathrooms Full: 4
Above Grade Finished Area: 4968
Living Area: 4968
Enhanced Accessible: No
Year Built: 1940
Year Built Source: Estimated
New Construction YN: No
Parking Total: 4
Lot Size Acres: 0.12
Lot Size Dimensions: 84X108
Waterfront YN: No
Basement YN: Yes
Stories: 2
Auction YN: No
List Price/SqFt: 120.57
Sold Price/SqFt: 114.73
Remarks and Miscellaneous
Public Remarks: Investors, don't get stuck in analysis paralysis on this one... This turn-key property is not a sham and is basically new construction. If no maintenance and high cash flow are what you've been looking for, read on. 1 beautiful building featuring 4 units, 3 bedrooms in each, rented on annual leases, great tenants, on-site laundry room, SEPARATE utilities, central air, wonderfully maintained, & countless upgrades. Each unit curently rented at 1300-1350 for an annual rental income of 63,000.
Status Change Information
Major Change Timestamp: 2024-11-13T17:10:00Z
Major Change Type: Status Change
Status Change Timestamp: 2024-11-13
Purchase Contract Date: 2024-10-11
Close Date: 2024-11-12
Close Price: 570000
Concessions: Yes
Buyer Financing: Cash
Concessions Amount: 3900
Income and Expenses
Annual Total Expense: 6127
Cap Rate: 9.5
Gross Income: 63000
Insurance Expense: 1300
Net Operating Income: 56873
New Taxes Expense: 2827
Other Expense: 2000
Unit 1
Unit #: 1E
Actual Rent: 1300
Security Deposit $: 1300
SqFt Total: 1000
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: No
Lease Expiration Date: 2025-04-15
Unit 2
Unit #: 1W
Actual Rent: 1300
Security Deposit $: 1300
SqFt Total: 1000
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2024-11-01
Unit 3
Unit #: 2E
Actual Rent: 1300
Security Deposit $: 1300
SqFt Total: 1000
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2025-11-01
Unit Remarks: Recently Vacated
Unit 4
Unit #: 2W
Actual Rent: 1350
Security Deposit $: 1300
SqFt Total: 1000
Baths Total: 1
Beds Total: 3
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2025-08-01
Unit Details
3 Bedroom: 4
Meter Information
Number Of Separate Electric Meters: 5
Number Of Separate Gas Meters: 5
Number Of Separate Water Meters: 5
Property Features
Basement: Concrete; Exterior Entry; Full; Storage Space; Unfinished
Community Features: Suburban
Construction Materials: Vinyl Siding
Cooling: Central Air; Separate Meters; Zoned
Current Financing: Conventional
Current Use: Investment; Multi-Family; Residential
Exterior Features: Lighting; Rain Gutters
Fencing: Privacy; Vinyl
Financial Data Source: Owner
Flooring: Luxury Vinyl
Income Includes: Rent Only
Laundry Features: Common Area; Laundry Room
Levels: Two
Listing Terms: Cash; Conventional; FHA; VA Loan
Lot Features: Corner Lot; Level; Private
Owner Pays: Common Area Maintenance; Insurance; Taxes
Parking Features: Driveway; Off Street; On Street; Parking Lot
Patio And Porch Features: Covered; Deck
Possession: Close Of Escrow
Property Condition: Updated/Remodeled
Road Surface Type: Paved
Showing Requirements: Occupied; Restricted Hours; Showing Service
Structure Type: Quadruplex
Tenant Pays: All Utilities
Listing Office: Revolve Real Estate
Last Updated: November - 13 - 2024
Information deemed reliable but not guaranteed.