$1,425,000
Scranton, PA 18510
MLS# 21-857
Status: Closed
12000 sqft
1 / 39
Property Description
AMAZING 10 UNIT APARTMENT COMPLEX WITHIN WALKING DISTANCE TO GEISINGER COMMONWEALTH SCHOOL OF MEDICINE!! This beautiful and elegant apartment complex was built brand new in 2015 by renovating the original factory warehouse at this location. Custom design and quality craftsmanship throughout. Highly efficient with no maintenance needed, impressive rent roll and rental history with medical students and plenty of parking! Consisting of 6, 2 bedroom and 4, 1 bedroom modern, mint-condition apartments complete with all appliances and washer and dryer in each unit! Excellent location! Walking distance to Geisinger Commonwealth School of Medicine, Regional Hospital & Moses Taylor Hospital, markets, coffee shops, restaurants and shopping! This is the prime property for the serious investor., Baths: Y
Details
Location, Tax, and Legal
Street Additional Info: 970 Ridge Ave, Scranton, PA
Municipality: City Of Scranton
High School District: Scranton School District
Cnty&Muni Taxes (Legacy): 3234.17
School Tax Amount: 4879.8
Tax Annual Amount: 8113.97
Tax Assessed Value: 28250
Parcel Number: 14618080028
Additional Parcels Description: 14618080027
Zoning Description: Residential
Tax Book Number: 2013018487
General Property Information
Number Of Buildings: 1
Number Of Units Total: 10
Lot Size Acres: 0.29
Water Body Name: None
Parking Total: 15
Basement YN: No
Stories: 3
List Price/SqFt: 129.17
Sold Price/SqFt: 118.75
Living Area: 12000
Year Built: 2015
Remarks and Miscellaneous
Public Remarks: AMAZING 10 UNIT APARTMENT COMPLEX WITHIN WALKING DISTANCE TO GEISINGER COMMONWEALTH SCHOOL OF MEDICINE!! This beautiful and elegant apartment complex was built brand new in 2015 by renovating the original factory warehouse at this location. Custom design and quality craftsmanship throughout. Highly efficient with no maintenance needed, impressive rent roll and rental history with medical students and plenty of parking! Consisting of 6, 2 bedroom and 4, 1 bedroom modern, mint-condition apartments complete with all appliances and washer and dryer in each unit! Excellent location! Walking distance to Geisinger Commonwealth School of Medicine, Regional Hospital & Moses Taylor Hospital, markets, coffee shops, restaurants and shopping! This is the prime property for the serious investor., Baths: Y
Status Change Information
Concessions: No
Concessions Amount: 0
Major Change Timestamp: 2021-09-02T15:53:33Z
Major Change Type: Status Change
Purchase Contract Date: 2021-06-14
Close Date: 2021-09-01
Close Price: 1425000
Cooling
Central Air: 1
Heating
Forced Air: 1
Hot Water: 1
Natural Gas: 1
Levels
Three Or More: 1
Listing Terms
Cash: 1
Conventional: 1
Oil, Gas and Mineral Rights
Gas Rights Reserved: None
Parking Features
Paved: 1
Possession
Negotiable: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Water Source
Public: 1
Income and Expenses
Electric Expense: 8814
Gross Income: 133500
Insurance Expense: 4267
Net Operating Income: 99478.03
Other Expense: 982
Trash Expense: 1895
Water Expense: 7732.44
Unit 1
Unit #: 1
Actual Rent: 1100
Beds Total: 2
Occupied YN: Yes
Unit 2
Unit #: 2
Actual Rent: 975
Beds Total: 1
Occupied YN: Yes
Unit 3
Actual Rent: 925
Beds Total: 1
Occupied YN: Yes
Unit 4
Unit #: 4
Actual Rent: 1200
Beds Total: 2
Occupied YN: Yes
Unit 5
Actual Rent: 1300
Beds Total: 2
Occupied YN: Yes
Unit 6
Unit #: 6
Actual Rent: 1000
Beds Total: 1
Occupied YN: Yes
Unit 7
Actual Rent: 1300
Beds Total: 2
Occupied YN: Yes
Unit 8
Unit #: 8
Actual Rent: 825
Beds Total: 1
Occupied YN: Yes
Unit 9
Actual Rent: 1200
Beds Total: 2
Occupied YN: Yes
Unit 10
Unit #: 10
Actual Rent: 1300
Beds Total: 2
Occupied YN: Yes
Contract Information
Current Price: $1,425,000
Sold Price: $1,425,000
Status: Closed
Listing Contract Date: 2021-03-29
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 970
Street Name: Ridge
Street Suffix: Avenue
County: Lackawanna
State: PA
Postal Code: 18510
Subdivision Name: None
Property Features
Cooling: Central Air
Heating: Forced Air; Hot Water; Natural Gas
Levels: Three Or More
Listing Terms: Cash; Conventional
Parking Features: Paved
Possession: Negotiable
Road Frontage Type: City Street
Road Surface Type: Paved
Roof: Shingle
Sewer: Public Sewer
Water Source: Public
Listing Office: RE/MAX WAYNE
Last Updated: September - 08 - 2024
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