1401 Prospect Avenue, Scranton, PA 18505 (MLS# 23-3980)

1401 Prospect Avenue, Scranton, PA 18505

$665,000

Property Type: Residential Income Lot Size (sq. ft.): 6,534 Status: Closed

Current Price: $665,000 List Date: 9/15/2023 Last Modified: 9/11/2024

Description

Prime Investment Opportunity: Portfolio of 10 Units Across Two Buildings Welcome to an exceptional investment opportunity, where two well-maintained buildings house a total of 10 rental units. This portfolio offers a diverse range of residences, providing a steady income stream and potential for long-term appreciation. All units are occupied. 511 Emmett #23-3085 1401 Prospect #23-3116, Semi-Modern Kitchen: Y, Tax Information: Available, Kitchen: SemiMod, Baths: SemiMod, SqFt Fin - 3rd: 1000.00, SqFt Fin - Main: 3000.00, SqFt Fin - 2nd: 3000.00

More Information MLS# 23-3980

Contract Information

Current Price: $665,000 Sold Price: $665,000 Status: Closed Listing Contract Date: 2023-09-15 Property Sub Type: Multi Family Property Attached YN: No Listing Agreement: Exclusive Agency Owner Name: Adriana Valdez-Rivera

Location Tax and Legal

Street Number: 1401 Street Name: Prospect Street Suffix: Avenue State: PA Postal Code: 18505 County: Lackawanna

General Property Information

Number Of Buildings: 2 Number Of Units Total: 10 Above Grade Finished Area: 7000 Below Grade Unfinished Area: 400 Living Area: 7000 Enhanced Accessible: No Year Built: 1940 New Construction YN: No Lot Size Acres: 0.15 Lot Size Dimensions: 37X150 Land Lease YN: No Waterfront YN: No Basement YN: No Stories: 3 Fireplace YN: No Spa YN: No Auction YN: No List Price/SqFt: 100.57 Sold Price/SqFt: 95

Remarks and Miscellaneous

Public Remarks: Prime Investment Opportunity: Portfolio of 10 Units Across Two Buildings Welcome to an exceptional investment opportunity, where two well-maintained buildings house a total of 10 rental units. This portfolio offers a diverse range of residences, providing a steady income stream and potential for long-term appreciation. All units are occupied. 511 Emmett #23-3085 1401 Prospect #23-3116, Semi-Modern Kitchen: Y, Tax Information: Available, Kitchen: SemiMod, Baths: SemiMod, SqFt Fin - 3rd: 1000.00, SqFt Fin - Main: 3000.00, SqFt Fin - 2nd: 3000.00 Exclusions: No

Status Change Information

Major Change Timestamp: 2024-01-24T20:58:45Z Major Change Type: Status Change Price Change Timestamp: 2023-11-11T05:09:51Z Status Change Timestamp: 2024-01-24 Purchase Contract Date: 2023-11-27 Close Date: 2024-01-24 Close Price: 665000 Concessions: No Buyer Financing: Conventional

Income and Expenses

Gross Income: 118200 Water Expense: 10800

Unit 1

Unit #: 1 Actual Rent: 800 SqFt Total: 900 Baths Total: 1 Beds Total: 1 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 2

Unit #: 2 Actual Rent: 800 SqFt Total: 500 Baths Total: 1 Beds Total: 1 Kitchen YN: Yes Living Room YN: Yes

Unit 3

Unit #: 3 Actual Rent: 900 SqFt Total: 600 Baths Total: 1 Beds Total: 2 Dining Room YN: No Kitchen YN: Yes Living Room YN: Yes

Unit 4

Unit #: 4 Actual Rent: 1100 SqFt Total: 900 Baths Total: 1 Beds Total: 2 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 5

Unit #: 5 Actual Rent: 1100 SqFt Total: 1200 Baths Total: 1 Beds Total: 3 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 6

Unit #: 6 Actual Rent: 950 SqFt Total: 600 Baths Total: 1 Beds Total: 2 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 7

Unit #: 7 Actual Rent: 800 SqFt Total: 650 Baths Total: 1 Beds Total: 1 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 8

Unit #: 8 Actual Rent: 1300 SqFt Total: 715 Baths Total: 1 Beds Total: 3 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 9

Unit #: 9 Actual Rent: 1300 SqFt Total: 715 Baths Total: 1 Beds Total: 2 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Unit 10

Unit #: 10 Actual Rent: 800 SqFt Total: 600 Baths Total: 1 Beds Total: 2 Dining Room YN: Yes Kitchen YN: Yes Living Room YN: Yes

Road Frontage Type

Road Frontage Length: 37

Property Features

Architectural Style: Multiple Buildings Basement: Crawl Space Community Features: None Construction Materials: Vinyl Siding Cooling: None Foundation Details: Slab Heating: Baseboard; Electric; Natural Gas Levels: Three Or More Listing Terms: Cash Lot Features: Rectangular Lot Parking Features: Asphalt Possession: Negotiable Road Frontage Type: Other Road Surface Type: Paved Roof: Composition; Wood Sewer: Public Sewer Showing Requirements: 24 Hour Notice; Appointment Only; Pet(s) on Premises Water Source: Public

Listing Office: Keller Williams Real Estate-Clarks Summit

Last Updated: September - 11 - 2024

Information deemed reliable but not guaranteed.