316 Taylor AveScranton, PA 18510

Property Details for 316 Taylor Ave

Year built

1930

Lot size

0.04 AC

Property size (Sq ft)

18,500 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Scranton

County

Lackawanna

State

Pennsylvania

Latitude

41.4039

Longitude

-75.6525

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