Scranton Multifamily Investment
1212 1214 Mulberry Street, Scranton, PA 18510
COMMERCIAL - Scranton, PA
Property size:
5,569 SFLot size:
0.07 AcresPrice / SF:
$142/SF- Added:
- Nov 7, 2024
- Days on Market:
- 567
- Last Refresh:
- May 28 at 5:06 pm
Property Features for 1212 1214 Mulberry Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- 0-19 / Special
- Exterior features
- Balcony
- Standard status
- Active
- APN
- 15737020019
- Size
- 5,569 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Taxes to be determined
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Wood
- Roof type
- Shingle
Listing agent Jacob W. Rosenstein License #RS369738 (570) 955-7338
Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA (570) 587-9999
Listing date Nov 7, 2024
MLS# SC5834
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location in the highly desirable University of Scranton corridor, characterized by strong demand and high foot traffic.
- Proven income‑producing asset with stable cash flow, currently operated as a professionally managed residential facility.
- Compelling redevelopment opportunity for a modern, student‑oriented residential project.
- Benefits from a lively streetscape near popular destinations like Goodfellas, appealing to students and residents.
- Flexibility to be repositioned for redevelopment or held as a cash‑flowing investment.
- Located in one of Scranton's most active and supply‑constrained neighborhoods, offering long‑term upside.
Overview
This well-located asset is situated in the University of Scranton corridor, an area characterized by high demand, walkability, and consistent foot traffic. The property is near neighborhood destinations such as Goodfellas, benefiting from a lively streetscape appealing to students and long-term residents. The property is a proven income-producing asset, currently operated as a professionally managed residential-use facility generating stable cash flow. The site presents a compelling opportunity for a modern, student-oriented residential project, ideally suited to the surrounding campus-driven market and nearby amenities. The property offers flexibility, location-driven demand, and long-term upside in one of Scranton's active and supply-constrained neighborhoods. The property is a multifamily property, specifically a triplex and residential income property. The lot size is 0.0658 acres. The property size is 5569 square feet. The zoning is 0-19 / Special.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$510.3K
NOI $45,926 @ 9.00% cap · cautious / downside scenario
Moderate
$656.1K
NOI $45,926 @ 7.00% cap · market / base-case scenario
Aggressive
$918.5K
NOI $45,926 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.2k | $12.60 |
| − Vacancy | −$4.6k | −$0.82 |
| EGI | $65.6k | $11.78 |
| − OpEx | −$19.7k | −$3.53 |
| NOI | $45.9k | $8.25 |
5,569 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$656.1K
$574.1K – $765.4K
NOI $45,926 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$613.3K
$536.7K – $715.6K
NOI $42,933 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,946 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Chen Garden
Restaurant
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.652738
- Latitude
- 41.404815
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Income-producing multifamily property near the University of Scranton.
Where is this triplex located?
The property is located at 1212 1214 Mulberry Street Scranton, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Prime location in the highly desirable University of Scranton corridor, characterized by strong demand and high foot traffic.; Proven income‑producing asset with stable cash flow, currently operated as a professionally managed residential facility.; Compelling redevelopment opportunity for a modern, student‑oriented residential project.
