Turnkey 5-Unit Investment Opportunity on River StreetFully occupied and generating over $54,600 in annual gross income, this well-maintained 5-unit complex is a strong, cash-flowing asset. Four of the five units have been extensively upgraded with modern kitchens featuring granite countertops and new appliances, updated flooring, fresh paint, and remodeled bathrooms--providing quality living spaces tenants appreciate.Each unit is separately metered, with tenants responsible for their own electric (including heat and hot water). Water is sub-metered and can be billed back, optimizing your utility cost management. The building offers coded front and rear entry for both security and ease of access.Additional highlights include a large backyard and rear off-street parking for tenant convenience.Bonus Value-Add Potential:Unlock even more income with the property's expansive walk-up attic, offering the perfect canvas for future apartment conversions, premium storage units, or creative revenue streams. With the right vision and upgrades, this untapped space could dramatically increase long-term returns. Additionally, the full-height basement provides an excellent opportunity to install tenant storage lockers or other rentable features, adding immediate, low-maintenance monthly income.Owner is a Licensed RE Broker.
For sale
Price cut: $10K (8/19)
$489,000
522 River St #524, Scranton, PA 18505
8beds
7,200sqft
Est.:
Apartment, Multi Family
Built in 1919
-- sqft lot
$469,200 Zestimate®
$68/sqft
$-- HOA
What's special
Large backyardFresh paintModern kitchensRear off-street parkingRemodeled bathroomsNew appliancesUpdated flooring
- 89 days
- on Zillow |
- 395 |
- 30 |
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