For Sale
$2,597,910

316 Taylor AveScranton, PA 18510

18-Unit Apartment Building, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 18-unit apartment building, totaling 18,500 square feet, presents a compelling investment opportunity in Scranton, Pennsylvania. Situated on a 0.04-acre lot at 316 Taylor Ave, this four-story, 1930-built property benefits from a prime location adjacent to the University of Scranton within the desirable "Eds and Meds" neighborhood. Recent capital improvements exceeding $650,000 have significantly enhanced the property, including renovations to 18 units, a new roof, and upgraded laundry facilities. The spacious three-bedroom units offer over 1,000 square feet of living space, while value-add opportunities exist within the two-bedroom units. The property's strong location near multiple universities, colleges, and hospitals ensures a consistent demand from students and medical professionals. With a current asking price of $2,597,910 ($140.43/sq ft and $144,328.33/unit), this multifamily asset offers a compelling return on investment. The property is zoned for multi-family use and boasts a diverse tenant base, contributing to its strong financial performance and potential for future growth. This is a rare opportunity to acquire a well-maintained, high-demand property in a thriving Scranton neighborhood. The building's proximity to major educational and medical institutions, combined with its recent renovations, positions it for continued success in a robust rental market.

Highlights

  • 18-unit multifamily building with 53 beds, located adjacent to the University of Scranton.
  • Prime location in Scranton, PA's "Eds and Meds" neighborhood.
  • $650,000+ in recent capital improvements, including 18 unit renovations, a new roof, and upgraded laundry facilities.
  • Three-bedroom units offer over 1,000 square feet.
  • Value-add opportunities exist in two-bedroom units.

Property Details for 316 Taylor Ave

Property type
Dormitories, Student housing
Square Feet
18,500 SF
Year Built
1930
Buildings
1
Stories
4
Lot Size (sq. ft)
1,742 SF
Units
18

Location Insight

City
Scranton
County
Lackawanna
State
Pennsylvania
Latitude
41.40386
Longitude
-75.6524928
316 Taylor Ave, Scranton, Pennsylvania

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
316 Taylor Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message