8-Unit Apartment Building with Coin
For Sale
$975,000
1411-1413 N Washington Avenue, Scranton, PA 18509
MULTI_FAMILY - Scranton, PA
Property Size9,200 SF
Lot Size0.19 Acres
Price / SF$105.98
Days on Market164
Property Features for 1411-1413 N Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2/O
Zoning description
Multi-Family
Bedrooms
16
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bathroom 8, Bedroom 2, Bedroom 4, Bedroom 9, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 10, Bedroom 3, Bathroom 1, Bedroom 14, Bedroom 12, Bedroom 16, Bedroom 11, Bedroom 15, Bedroom 1, Bathroom 2, Bathroom 7, Bedroom 13, Bathroom 5, Bedroom 8, Basement
Parking
8
Parking features
Garage, Driveway, Off Street, On Street
Security features
Security Lighting
Window features
Storm Window(s), Wood Frames, Screens, Aluminum Frames
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Smart Camera(s)/Recording, Walk-In Closet(s), Storage, Smart Light(s), Eat-in Kitchen, Laminate Counters, High Ceilings, Entrance Foyer
Exterior features
Lighting, Smart Camera(s)/Recording, Storage, Smart Light(s)
Fencing
Chain Link
Basement
Full, Daylight, Exterior Entry, Concrete, Partially Finished, Walk-Out Access
Appliances
Electric Range, Washer/Dryer, Refrigerator, Gas Water Heater, Free-Standing Refrigerator, Free-Standing Gas Range, Free-Standing Electric Range
Lot features
Back Yard, Gentle Sloping, City Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Green Ridge Street, head south on North Washington Avenue, proceed through ''S'' turn at Marion Street and the property will be 3 properties down from Mobil Market on right side.
Standard status
Active
APN
14606060005
Size
9,200 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X204 Meylerts Add L 13 B 320 W-13 B-016 L-003
Tax Annual Amount
10682
Legal Description
40X204 Meylerts Add L 13 B 320 W-13 B-016 L-003
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Steam
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
coin-operated laundry
covered seating area
security cameras
security lighting
rear porches
front porches
enclosed storage rooms
Building Details
Year built
1910
Floors in Building
3
Number of units
8
Flooring type
Concrete, Tile - Ceramic, Carpet, Linoleum, Hardwood, Simulated wood
Building materials
Block, Stucco, Concrete, Brick
Roof type
Rubber
Additional Structures
Storage
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
James W Gilhooley · License #RS373019
(570) 780-0725
Added: Mar 3
Changed: Aug 1
Last Checked: Aug 14 at 2:06PM
MLS# SC260834
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 8-unit apartment building on a 0.19-acre lot (9200 SF) was built in 1910 and is currently configured with eight fully rented units. Laundry is available in the basement with coin-operated machines, and there is an outdoor covered seating area off the laundry room. The property also includes a 4-car detached garage that can be rented out or potentially built into tenant rent. Interiors feature high ceilings and a mix of flooring types, with updates including a newer roof, furnace, flooring, paint, and newer carpeting. Several units have a private front porch, and front porches and railings have been redone. Security cameras and lighting are provided inside and outside, and there are smart cameras/smart lighting and storage features.
Zoned R2/O, the building offers a mix of parking options including a driveway, off-street parking, and on-street parking, plus public water and public sewer. Heating is gas steam and cooling includes window unit(s) and ceiling fans. Utilities are split such that all electric is separate and paid by the tenants, while gas steam heat, water, and sewer are paid by the owner.
The property is within a one-mile commute to Marywood University, The University of Scranton, Lackawanna College, Geisinger School of Medicine, Regional Hospital, Moses Taylor Hospital, and Geisinger Community Medical Center.
Zoned R2/O, the building offers a mix of parking options including a driveway, off-street parking, and on-street parking, plus public water and public sewer. Heating is gas steam and cooling includes window unit(s) and ceiling fans. Utilities are split such that all electric is separate and paid by the tenants, while gas steam heat, water, and sewer are paid by the owner.
The property is within a one-mile commute to Marywood University, The University of Scranton, Lackawanna College, Geisinger School of Medicine, Regional Hospital, Moses Taylor Hospital, and Geisinger Community Medical Center.
Key Highlights
- Eight fully rented units in an R2/O apartment building on a 0.19‑acre lot (9200 SF) built in 1910
- Coin‑operated laundry machines in the basement with a well‑lit outdoor covered seating area off the laundry room
- 4‑car detached garage that can be rented out or built into tenant rent
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,926
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,418,520
$1.4M
Cap Rate 7%
$1,013,229
$1.0M
Cap Rate 9%
$788,067
$788.1K
Market Conditions
NOI Build-Up for 9,200 SF
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.
Gross rent
$136.9K $14.88/SF
− Vacancy
−$7.9K −$0.86/SF
EGI
$129.0K $14.02/SF
− OpEx
−$58.0K −$6.31/SF
NOI
$70.9K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,418,520
Cap Rate 7%
$1,013,229
Cap Rate 9%
$788,067
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.6K – $1.18M
NOI $70,926 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.04M – $2.72M
NOI $163,459 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
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?
Apartment building - Eight fully rented units with coin-operated basement laundry, tenant-paid all-electric service, and on-site parking options.
Where is this apartment building located?
The property is located at 1411-1413 N Washington Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Eight fully rented units in an R2/O apartment building on a 0.19‑acre lot (9200 SF) built in 1910; Coin‑operated laundry machines in the basement with a well‑lit outdoor covered seating area off the laundry room; 4‑car detached garage that can be rented out or built into tenant rent
