640 Alder Street, Scranton, PA 18505 (MLS# SC-252045)
640 Alder Street, Scranton, PA 18505
New Listing
$377,500
Property Type:
Residential Income
Bedrooms:
9
Baths:
4
Lot Size (sq. ft.):
6,534
Status:
Active
Current Price:
$377,500
List Date:
5/02/2025
Last Modified:
5/02/2025
Description
This renovated 3-unit property in Scranton offers a fantastic investment opportunity netting over $35K annually. The front single-family home features 5 bedrooms, 1.5 baths, and three levels of living space. Behind the main house, a duplex offers 2 bedroom, 1 bath units on each floor. There is also a detached two-car garage and off street parking.
Each property has been updated with modern vinyl flooring, kitchens, and bathrooms. Whether you're looking to expand your portfolio or live in one unit while renting the others, this turnkey property is a must-see. Don't miss out on this prime investment opportunity and schedule a showing today!
More Information MLS# SC-252045
Contract Information
Current Price: $377,500
List Price: $377,500
Status: Active
Listing Contract Date: 2025-05-02
Property Sub Type: Triplex
Property Attached YN: No
Listing Agreement: Exclusive Agency
Owner Name: Scranton Rentals LLC
Location Tax and Legal
Street Number: 640
Street Name: Alder
Street Suffix: Street
State: PA
Postal Code: 18505
County: Lackawanna
General Property Information
Number Of Buildings: 2
Number Of Units Total: 3
Bedrooms Total: 9
Bathrooms Total: 4
Bathrooms Full: 3
Bathrooms Half: 1
Above Grade Finished Area: 3000
Living Area: 3000
Enhanced Accessible: No
Year Built: 1950
Year Built Source: Estimated
New Construction YN: No
Garage YN: Yes
Garage Spaces: 2
Open Parking Spaces: 3
Lot Size Acres: 0.15
Lot Size Dimensions: 40X162
Land Lease YN: No
Association YN: No
Waterfront YN: No
Basement YN: Yes
Stories: 2
Auction YN: No
List Price/SqFt: 125.83
Remarks and Miscellaneous
Public Remarks: This renovated 3-unit property in Scranton offers a fantastic investment opportunity netting over $35K annually. The front single-family home features 5 bedrooms, 1.5 baths, and three levels of living space. Behind the main house, a duplex offers 2 bedroom, 1 bath units on each floor. There is also a detached two-car garage and off street parking.
Each property has been updated with modern vinyl flooring, kitchens, and bathrooms. Whether you're looking to expand your portfolio or live in one unit while renting the others, this turnkey property is a must-see. Don't miss out on this prime investment opportunity and schedule a showing today!
Inclusions: Refrigerator x3, Stove/Oven X3
Exclusions: Tenant Personal Items
Status Change Information
Major Change Timestamp: 2025-05-02T15:50:34Z
Major Change Type: New Listing
Status Change Timestamp: 2025-05-02
Income and Expenses
Annual Total Expense: 13755.83
Electric Expense: 60.21
Gross Income: 48840
Heat Expense: 2788.13
Insurance Expense: 1933
Net Operating Income: 35084.17
Water Expense: 3836.09
Unit 1
Unit #: 640
Actual Rent: 1675
SqFt Total: 1500
Baths Total: 2
Beds Total: 5
Rooms Total: 9
Dining Room YN: Yes
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2025-12-31
Unit 2
Unit #: 642/1
Actual Rent: 1245
SqFt Total: 850
Baths Total: 1
Beds Total: 2
Rooms Total: 7
Dining Room YN: Yes
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2026-01-31
Unit Remarks: First floor
Unit 3
Unit #: 642/2
Actual Rent: 1225
SqFt Total: 850
Baths Total: 1
Beds Total: 2
Rooms Total: 7
Dining Room YN: Yes
Kitchen YN: Yes
Living Room YN: Yes
Occupied YN: Yes
Lease Expiration Date: 2025-07-31
Unit Remarks: Second floor
Meter Information
Number Of Separate Electric Meters: 3
Number Of Separate Gas Meters: 2
Number Of Separate Water Meters: 1
Property Features
Appliances: Built-In Gas Oven; Refrigerator
Architectural Style: Multiple Buildings
Basement: Unfinished
Community Features: None
Construction Materials: Vinyl Siding
Cooling: None
Current Financing: Conventional; FHA
Current Use: Multi-Family
Flooring: Vinyl
Foundation Details: Stone
Heating: Electric; Natural Gas
Income Includes: Rent Only; Storage
Laundry Features: In Unit
Lot Features: Level
Operating Expense Includes: Utilities; Water/Sewer
Owner Pays: Gas; Sewer; Taxes; Water
Parking Features: Alley Access; Driveway; Garage; Off Street; On Street
Patio And Porch Features: Front Porch
Property Condition: Updated/Remodeled
Road Frontage Type: City Street
Road Responsibility: Public Maintained Road
Roof: Rubber; Shingle
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Occupied; Showing Service
Structure Type: Multi Family
Tenant Pays: Electricity; Gas; Hot Water
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Water Source: Public
Listing Office: LUZERNE COUNTY ASSOCIATION OF REALTORS
Last Updated: May - 02 - 2025
Information deemed reliable but not guaranteed.