8-Unit Apartment
For Sale
$630,000
1607 Sanderson Avenue, Scranton, PA 18509
Residential Income, Scranton, PA
Property Size7,348 SF
Lot Size0.28 Acres
Price / SF$85.74
Days on Market147
Property Features for 1607 Sanderson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 7, Bedroom 4, Bedroom 5, Basement, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 10, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 9, Bathroom 6, Bathroom 8
Parking features
Off Street
Basement
Full
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Greenridge St - property is on the corner of Greenridge St and Sanderson Ave.
Standard status
Active
APN
13517020054
Size
7,348 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
121X79x18x131x95 W-13 B-0530 L-0010 P-02300
Tax Annual Amount
12924
Legal Description
121X79x18x131x95 W-13 B-0530 L-0010 P-02300
Utilities
Heating system
Electric (Heating), Natural Gas
Building Details
Year built
1930
Floors in Building
3
Number of units
8
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Christine Ives Polizzi · License #RS360064
(570) 561-7189
Added: May 12
Changed: Oct 1
Last Checked: Oct 5 at 6:06PM
MLS# SC262148
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 apartment property contains eight units across 7,348 square feet on a 0.28-acre parcel. The mix consists of six one-bedroom apartments and two two-bedroom apartments. Built in 1930, the building is zoned R2 and has off-street parking. Heating sources listed for the property are electric and natural gas.
The property occupies a corner at Sanderson Avenue and Green Ridge Street, near the Dunmore border in Scranton. The address is 1607 Sanderson Avenue.
The property occupies a corner at Sanderson Avenue and Green Ridge Street, near the Dunmore border in Scranton. The address is 1607 Sanderson Avenue.
Key Highlights
- Eight apartments: six one‑bedroom units and two two‑bedroom units
- 7,348 square feet on a 0.28‑acre parcel
- Built in 1930; zoned R2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,648
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,960
$1.1M
Cap Rate 7%
$809,257
$809.3K
Cap Rate 9%
$629,422
$629.4K
Market Conditions
NOI Build-Up for 7,348 SF
Gross rent
$109.3K $14.88/SF
− Vacancy
−$6.3K −$0.86/SF
EGI
$103.0K $14.02/SF
− OpEx
−$46.3K −$6.31/SF
NOI
$56.6K $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 Rate 5%
$1,132,960
Cap Rate 7%
$809,257
Cap Rate 9%
$629,422
Alternative Uses
Best Use
Apartment 5plus
$809.3K
$708.1K – $944.1K
NOI $56,648 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,554 @ 7.0% cap · market cap 20.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
894
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix combines one- and two-bedroom apartments in a multifamily property with off-street parking.
Where is this apartment building located?
The property is located at 1607 Sanderson Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Eight apartments: six one‑bedroom units and two two‑bedroom units; 7,348 square feet on a 0.28‑acre parcel; Built in 1930; zoned R2
