510 Quincy AveScranton, PA 18510

Property Details for 510 Quincy Ave

Year built

1950

Lot size

0.08 AC

Property size (Sq ft)

3,900 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This well-maintained, two-story apartment building in Scranton, PA, presents a compelling investment opportunity. The property, located at 510 Quincy Ave, features six one-bedroom, one-bathroom units, each with its own electric meter. All units are currently occupied, generating a substantial net operating income (NOI) of $48,316, representing an 8.49% capitalization rate. Built in 1950, the 3,900 square foot building sits on a 0.08-acre lot and is zoned for multi-family use. The asking price is $569,000, translating to $145.90 per square foot and $94,833.33 per unit. The property's consistent occupancy and strong rental demand in the downtown Scranton area promise stable and immediate cash flow for investors. This represents a chance to acquire a multi-unit property, streamlining investment and diversifying risk. The building's history of low maintenance costs further enhances its appeal. This is an excellent opportunity for investors seeking a proven, income-generating asset in a desirable location. The property's location in downtown Scranton offers easy access to local amenities and transportation. The building's solid construction and consistent occupancy history make it a low-risk, high-reward investment.

Location Insight

City

Scranton

County

Lackawanna

State

Pennsylvania

Latitude

41.408

Longitude

-75.6534

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