Seven-Unit Apartment
For Sale
$679,000
1418 Pittston Avenue, Scranton, PA 18505
Residential property includes garage spaces and a mix of one-, two-, and three-bedroom apartments.
Property Size6,200 SF
Days on Market110
Property Features for 1418 Pittston Avenue
General Information
Standard status
Active
Size
6,200 SF
Total Parking Spaces
3
Property subtype
Multi Family
Units
Unit Mix
4 x 3BR, 1 x 2BR, 2 x 1BR
Multifamily Units
7
Building Details
Building Size
6,200 SF
Year Built
1925
Listing Agency:
ERA One Source Realty
(570) 510-5840
Listed By:
Sunita Arora · License #RM061605A
Source:
Luxehomesnepa
Added: Apr 17
Changed: Jul 31
Last Checked: Aug 1 at 10:46AM
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 1925 apartment building contains seven residential units with a varied floor plan. The unit mix includes four three-bedroom apartments, one two-bedroom apartment, and two one-bedroom apartments, providing multiple residential configurations within the property.
The property also includes three garage spaces, offering additional on-site functionality. It is located at 1418 Pittston Avenue in Scranton, Pennsylvania.
The property also includes three garage spaces, offering additional on-site functionality. It is located at 1418 Pittston Avenue in Scranton, Pennsylvania.
Key Highlights
- Seven residential units
- Unit mix includes four 3‑BR, one 2‑BR, and two 1‑BR apartments
- Three garage spaces
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 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,157 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
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 - Residential property includes garage spaces and a mix of one-, two-, and three-bedroom apartments.
Where is this apartment building located?
The property is located at 1418 Pittston Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Seven residential units; Unit mix includes four 3‑BR, one 2‑BR, and two 1‑BR apartments; Three garage spaces
