$400,000
Scranton, PA 18504
MLS# PW-242489
Status: Closed
5535 sqft
1 / 18
Property Description
Prime Mixed-Use Commercial Building in Vibrant Scranton, PA Welcome to an exceptional investment opportunity in the heart of Scranton, PA! This 8-unit mixed-use commercial building features two prime storefronts and six residential apartments above. With a fantastic location and high demand for rental units, this property offers substantial income potential. The commercial storefronts are ideally situated to attract a steady flow of foot traffic, ensuring consistent business for tenants. Upstairs, four of the six apartments are move-in ready, featuring new flooring and other upgrades. The remaining two units offer a great opportunity for rehab, allowing the new owner to customize and enhance their value. Recent property improvements include security cameras, ensuring a safe environment for tenants and added peace of mind for the owner. To further increase rental income, consider adding coin-operated laundry facilities, a sought-after amenity for tenants. The demand for these units is incredibly high, making it easy to lease out the spaces quickly. This well-maintained building, with its blend of commercial and residential spaces, is perfect for investors looking to capitalize on Scranton's growing market. Don't miss your chance to own this versatile and profitable property. Schedule a viewing today and start reaping the benefits!
Details
Documents
Contract Information
Listing Service: Full Service
Environmental Survey YN: No
Current Price: $400,000
Sold Price: $400,000
Status: Closed
Listing Contract Date: 2024-08-06
Property Sub Type: Mixed Use
Location, Tax, and Legal
Municipality: City Of Scranton
High School District: Scranton School District
County Tax Amount: 1414.97
Municipal Tax Amount: 1170.4
School Tax Amount: 3289.34
Tax Annual Amount: 5874.71
Tax Assessed Value: 22248
Parcel Number: 14518040051
Zoning: Commercial
Tax Book Number: 202129097
General Property Information
Number Of Buildings: 1
Number Of Units Total: 8
Above Grade Finished Area: 4235
Below Grade Finished Area: 1300
Building Area Total: 5535
Waterfront YN: No
Water Body Name: None
Basement YN: Yes
Stories: 3
List Price/SqFt: 90.15
Sold Price/SqFt: 72.27
Year Built: 1920
Remarks and Miscellaneous
Public Remarks: Prime Mixed-Use Commercial Building in Vibrant Scranton, PA
Welcome to an exceptional investment opportunity in the heart of Scranton, PA! This 8-unit mixed-use commercial building features two prime storefronts and six residential apartments above. With a fantastic location and high demand for rental units, this property offers substantial income potential.
The commercial storefronts are ideally situated to attract a steady flow of foot traffic, ensuring consistent business for tenants. Upstairs, four of the six apartments are move-in ready, featuring new flooring and other upgrades. The remaining two units offer a great opportunity for rehab, allowing the new owner to customize and enhance their value. Recent property improvements include security cameras, ensuring a safe environment for tenants and added peace of mind for the owner.
To further increase rental income, consider adding coin-operated laundry facilities, a sought-after amenity for tenants. The demand for these units is incredibly high, making it easy to lease out the spaces quickly.
This well-maintained building, with its blend of commercial and residential spaces, is perfect for investors looking to capitalize on Scranton's growing market. Don't miss your chance to own this versatile and profitable property. Schedule a viewing today and start reaping the benefits!
Status Change Information
Buyer Financing: Cash
Major Change Timestamp: 2024-12-12T21:26:45Z
Major Change Type: Status Change
Purchase Contract Date: 2024-11-12
Close Date: 2024-12-12
Close Price: 400000
Basement
Full: 1
Unfinished: 1
Current Use
Investment: 1
Mixed Use: 1
Flooring
Luxury Vinyl: 1
Heating
Electric: 1
Levels
Three Or More: 1
Lot Features
Near General Business: 1
Parking Features
On Street: 1
Property Condition
Fixer: 1
Updated/Remodeled: 1
Road Frontage Type
City Street: 1
Roof
Foam: 1
Security Features
Closed Circuit Camera(s): 1
Sewer
Public Sewer: 1
Structure Type
Mixed Use: 1
Water Source
Public: 1
Income and Expenses
Electric Expense: 1329.49
Fuel Expense: 573.63
Insurance Expense: 6741.49
Water Expense: 5357.41
Owner Pays
Common Area Maintenance: 1
Electricity: 1
Gas: 1
Security: 1
Sewer: 1
Water: 1
See Remarks: 1
Possible Use
Commercial: 1
Mixed Use: 1
Tenant Pays
Electricity: 1
Location Tax and Legal
Street Number: 106
Street Direction Prefix: S
Street Name: 108 S Main
Street Suffix: Avenue
County: Lackawanna
City (Post Office): Scranton
State: PA
Postal Code: 18504
Subdivision Name: None
Property Features
Basement: Full; Unfinished
Current Use: Investment; Mixed Use
Flooring: Luxury Vinyl
Heating: Electric
Levels: Three Or More
Lot Features: Near General Business
Owner Pays: Common Area Maintenance; Electricity; Gas; Security; Sewer; Water; See Remarks
Parking Features: On Street
Possible Use: Commercial; Mixed Use
Property Condition: Fixer; Updated/Remodeled
Road Frontage Type: City Street
Roof: Foam
Security Features: Closed Circuit Camera(s)
Sewer: Public Sewer
Structure Type: Mixed Use
Tenant Pays: Electricity
Water Source: Public
Lead-Based Paint Hazards Disclosure 
Listing Office: SIX PM LLC
Last Updated: December - 12 - 2024
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