331-333 Foster Street, Scranton, PA 18508 (MLS# SC-3450)
331-333 Foster Street, Scranton, PA 18508
$347,500
Property Type:
Residential Income
Bedrooms:
6
Baths:
4
Lot Size (sq. ft.):
7,405
Status:
Closed
Current Price:
$347,500
List Date:
7/01/2024
Last Modified:
9/28/2024
Description
This 4-Unit Multi-Family home is what you've been searching for. Nestled on a beautifully quiet street, it is recently renovated, features all separate utilities, and listed at a 10% cap rate. This property is truly turn-key while STILL having room for EASY value-add! Current NET income is $38,000 and potential net based on market rents is $41,000. Additional lot #14508040055 included and paved and professionally lined for parking. As an added bonus, all tenants pay for and carry Rhino Insurance per their lease which protects and provides money to the Landlord if there is ever a payment issue with anything from rent to damages. Talk about peace of mind!
This property can be purchased individually or as part of a package with 2 other similar properties.
You don't make money from the sidelines. Don't miss this one.
More Information MLS# SC-3450
Contract Information
Current Price: $347,500
Sold Price: $347,500
Status: Closed
Listing Contract Date: 2024-07-01
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: LTS1 Realty LLC
Location Tax and Legal
Street Number: 331-333
Street Name: Foster
Street Suffix: Street
State: PA
Postal Code: 18508
County: Lackawanna
General Property Information
Number Of Buildings: 1
Number Of Units Total: 4
Bedrooms Total: 6
Bathrooms Total: 4
Bathrooms Full: 4
Above Grade Finished Area: 2460
Below Grade Unfinished Area: 1290
Living Area: 2460
Enhanced Accessible: No
Year Built: 1930
Year Built Source: Public Records
New Construction YN: No
Garage YN: No
Open Parking Spaces: 6
Parking Total: 6
Lot Size Acres: 0.17
Lot Size Dimensions: 50X104X50X101 + 25x100
Waterfront YN: No
Basement YN: Yes
Stories: 2
Auction YN: No
List Price/SqFt: 148.37
Sold Price/SqFt: 141.26
Remarks and Miscellaneous
Public Remarks: This 4-Unit Multi-Family home is what you've been searching for. Nestled on a beautifully quiet street, it is recently renovated, features all separate utilities, and listed at a 10% cap rate. This property is truly turn-key while STILL having room for EASY value-add! Current NET income is $38,000 and potential net based on market rents is $41,000. Additional lot #14508040055 included and paved and professionally lined for parking. As an added bonus, all tenants pay for and carry Rhino Insurance per their lease which protects and provides money to the Landlord if there is ever a payment issue with anything from rent to damages. Talk about peace of mind!
This property can be purchased individually or as part of a package with 2 other similar properties.
You don't make money from the sidelines. Don't miss this one.
Status Change Information
Major Change Timestamp: 2024-09-28T12:55:06Z
Major Change Type: Status Change
Price Change Timestamp: 2024-07-25T19:52:52Z
Status Change Timestamp: 2024-09-28
Purchase Contract Date: 2024-08-19
Close Date: 2024-09-26
Close Price: 347500
Concessions: No
Buyer Financing: Conventional
Income and Expenses
Annual Total Expense: 8807
Cap Rate: 10
Flood Insurance Expense: 3707
Gross Income: 48000
Insurance Expense: 2100
Net Operating Income: 39193
New Taxes Expense: 3000
Unit 1
Unit #: 1A
SqFt Total: 615
Baths Total: 1
Beds Total: 1
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: No
Unit Remarks: MARKET $900
Unit 2
Unit #: 1B
Actual Rent: 895
Security Deposit $: 895
SqFt Total: 615
Baths Total: 1
Beds Total: 1
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2024-04-30
Unit Remarks: MARKET $900
Unit 3
Unit #: 2A
Security Deposit $: 1000
SqFt Total: 615
Baths Total: 1
Beds Total: 2
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Lease Expiration Date: 2024-08-31
Unit Remarks: MARKET $1100
Unit 4
Unit #: 2B
Security Deposit $: 950
SqFt Total: 615
Baths Total: 1
Beds Total: 2
Dining Room YN: No
Kitchen YN: Yes
Living Room YN: Yes
Lease Expiration Date: 2024-06-30
Unit Remarks: MARKET $1100
Unit Details
1 Bedroom: 2
2 Bedroom: 2
Meter Information
Number Of Separate Electric Meters: 4
Number Of Separate Gas Meters: 4
Number Of Separate Water Meters: 4
Road Frontage Type
Road Frontage Length: 175
Property Features
Basement: Full
Construction Materials: Vinyl Siding
Cooling: None
Current Financing: Conventional
Current Use: Multi-Family
Heating: Natural Gas
Levels: Two
Lot Features: Rectangular Lot
Owner Pays: Insurance; Taxes
Parking Features: Off Street; On Street; Parking Lot; Paved
Possession: Close Of Escrow
Road Frontage Type: Alley; City Street
Road Responsibility: Public Maintained Road
Road Surface Type: Paved
Sewer: Public Sewer
Showing Requirements: Appointment Only; Occupied; Restricted Hours; Showing Service
Structure Type: Multi Family; Quadruplex
Tenant Pays: All Utilities
Water Source: Public
Listing Office: Revolve Real Estate
Last Updated: September - 28 - 2024
Information deemed reliable but not guaranteed.