Multi-Family Residential Income
1418 Pittston Ave Scranton, PA 18505
For Sale
$699,000
Seven-unit residential property with on-site garage spaces providing additional income potential.
Property Size6,200 SF
Price / SF$112.74
Days on Market102
Property Features for 1418 Pittston Ave
General Information
- Standard status
- Active
- Size
- 6,200 SF
Listing Agency:
ERA One Source Realty
(570) 510-5840
Listed By:
Sunita Arora · License #RM061605A
(570) 510-5840
Source:
Exprealty
Added: Apr 17
Changed: Jul 10
Last Checked: Jul 26 at 11:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA One Source Realty
Investment Insights
Based on property information with market context.
This residential income building features a total of seven units, including four 3-bedroom apartments, one 2-bedroom apartment, and two 1-bedroom apartments. The property also includes three garage spaces, adding a separate housing-related amenity for occupants or their vehicles.
Located in South Scranton at 1418 Pittston Ave, the building is offered for sale. The listing notes the unit mix as the primary component of the property’s structure and leasing profile, along with the attached garage space count.
For investors or owner-operators, the balanced unit mix of 3-bedroom, 2-bedroom, and 1-bedroom apartments can support diversified tenant demand within the same asset. The inclusion of three garage spaces can be a practical add-on for day-to-day resident needs. This offering is presented as an investment opportunity with income-generating residential units and garage space included on the property.
Located in South Scranton at 1418 Pittston Ave, the building is offered for sale. The listing notes the unit mix as the primary component of the property’s structure and leasing profile, along with the attached garage space count.
For investors or owner-operators, the balanced unit mix of 3-bedroom, 2-bedroom, and 1-bedroom apartments can support diversified tenant demand within the same asset. The inclusion of three garage spaces can be a practical add-on for day-to-day resident needs. This offering is presented as an investment opportunity with income-generating residential units and garage space included on the property.
Key Highlights
- Seven residential units in South Scranton
- Unit mix: four 3‑BR apartments, one 2‑BR apartment, and two 1‑BR apartments
- Includes 3 on‑site garage spaces for additional income
Financial Insights For Apartment 5plus
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 | $92.3k | $14.88 |
| − Vacancy | −$5.4k | −$0.86 |
| EGI | $86.9k | $14.02 |
| − OpEx | −$39.1k | −$6.31 |
| NOI | $47.8k | $7.71 |
6,200 SF · lease $14.88/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$682.8K
$597.5K – $796.6K
NOI $47,798 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,157 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Timothy Belles
Advertising Agency
FAQs
What type of property is this?
Apartment building - Seven-unit residential property with on-site garage spaces providing additional income potential.
Where is this apartment building located?
The property is located at 1418 Pittston Ave Scranton, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Seven residential units in South Scranton; Unit mix: four 3‑BR apartments, one 2‑BR apartment, and two 1‑BR apartments; Includes 3 on‑site garage spaces for additional income
