Renovated Three-Unit Apartment
335 Phelps Street Scranton, PA 18509
For Sale
$350,000
Pending
MULTI_FAMILY - Scranton, PA
Property Size2,500 SF
Lot Size0.11 Acres
Days on Market142
Property Features for 335 Phelps Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 4, Basement, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1
- Parking
- 3
- Parking features
- On Street, Off Street
- Patio and Porch features
- Deck, Porch
- Interior features
- Eat-in Kitchen, Attic Storage, Granite Counters
- Exterior features
- Rain Gutters
- Fencing
- Chain Link, Fenced
- Basement
- Walk-Out Access
- Appliances
- Gas Oven, Refrigerator
- Standard status
- Pending
- APN
- 14512050077
- Size
- 2,500 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2717
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Gas (Cooling), Central Air, Ductless
- Water source
- Public
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Vinyl
- Building materials
- Stucco
- Roof type
- Asphalt
- Additional Structures
- Storage
Listing Agency:
ERA One Source Realty
(570) 587-9999
Listed By:
Diane Stracham · License #RS318034
(570) 241-3982
Added: Mar 7
Changed: Jul 9
Last Checked: Jul 27 at 9:06AM
MLS# SC260911
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.
Investment Insights
Based on property information with market context.
This is a fully renovated three-unit apartment building, ready for occupancy. Each unit features a new kitchen, modern bathroom, and vinyl flooring. The property has separate utilities for all units, offering an opportunity for cash flow with no immediate renovations needed. The building is ready to lease. The property size is approximately 2500 square feet on a lot of approximately 0.11 acres. The zoning is R3. It is located in Scranton, Lackawanna County, Pennsylvania.
Key Highlights
- Fully renovated 3‑unit apartment building built in 1930
- Each unit includes a brand‑new kitchen and modern bathrooms
- Vinyl flooring throughout and granite counters in the eat‑in kitchen
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.5k | $12.60 |
| − Vacancy | −$2.0k | −$0.82 |
| EGI | $29.5k | $11.78 |
| − OpEx | −$8.8k | −$3.53 |
| NOI | $20.6k | $8.25 |
2,500 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$294.5K
$257.7K – $343.6K
NOI $20,617 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,273 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$634.5K
$555.2K – $740.3K
NOI $44,418 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Turn-key three-unit apartment building with separate utilities and new renovations.
Where is this triplex located?
The property is located at 335 Phelps Street Scranton, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully renovated 3‑unit apartment building built in 1930; Each unit includes a brand‑new kitchen and modern bathrooms; Vinyl flooring throughout and granite counters in the eat‑in kitchen
