Renovated Multi-Unit Residential
New
For Sale
$470,000
1142 Academy Street, Scranton, PA 18504
MULTI_FAMILY - Scranton, PA
Property Size3,719 SF
Lot Size0.13 Acres
Price / SF$126.38
Days on Market3
Property Features for 1142 Academy Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 7, Bedroom 8, Bathroom 4, Bedroom 2, Bathroom 2, Basement, Bathroom 5, Bedroom 9, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3
Basement
Unfinished
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Main St to Washburn St. Left on S. Sumner. Left on Academy. (Academy is one way street)
Standard status
Active
APN
14517060052
Size
3,719 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties · Berkshire Hathaway HomeServices
(570) 585-1500
Listed By:
Thomas Meyer · License #RS346125
(570) 793-5284
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 30 at 11:06PM
MLS# SC263712
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 multi-unit residential offering includes two buildings on the same lot: a large 3-unit building and a detached garage, plus a single-family 3-bedroom home. The units have been newly renovated and feature separate gas heat and electric meters. The left side includes two vacant 1-bedroom units ready to rent, while the right side has one 4-bedroom unit with two baths that is currently rented.
The property also includes three new gas furnaces with forced air heat, along with new water heaters. Renovations are described throughout the buildings, including updated electrical, plumbing, floors, kitchens, bathrooms, siding, windows, and additional improvements.
An optional living-and-rental setup is supported by the rear single-family home and the front apartments, with the detached garage also mentioned as rentable.
The property also includes three new gas furnaces with forced air heat, along with new water heaters. Renovations are described throughout the buildings, including updated electrical, plumbing, floors, kitchens, bathrooms, siding, windows, and additional improvements.
An optional living-and-rental setup is supported by the rear single-family home and the front apartments, with the detached garage also mentioned as rentable.
Key Highlights
- Two buildings and four units on one lot in central Scranton, plus a detached garage
- Large 3‑unit building on Academy Street
- Single‑family 3‑bedroom home on Rachel Place with a detached garage
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 | $46.9k | $12.60 |
| − Vacancy | −$3.0k | −$0.82 |
| EGI | $43.8k | $11.78 |
| − OpEx | −$13.1k | −$3.53 |
| NOI | $30.7k | $8.25 |
3,719 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$438.1K
$383.4K – $511.2K
NOI $30,669 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$409.6K
$358.4K – $477.9K
NOI $28,671 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$944.0K
$826.0K – $1.10M
NOI $66,077 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two buildings with four units and a detached garage, featuring separate gas heat and electric meters and extensive renovations.
Where is this quadplex located?
The property is located at 1142 Academy Street Scranton, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two buildings and four units on one lot in central Scranton, plus a detached garage; Large 3‑unit building on Academy Street; Single‑family 3‑bedroom home on Rachel Place with a detached garage
