6-Unit Apartment
For Sale
$349,900
224 N River Street, Olyphant, PA 18447
Residential Income, Olyphant, PA
Property Size4,153 SF
Lot Size0.17 Acres
Price / SF$84.25
Days on Market49
Property Features for 224 N River Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Family
Zoning description
Multi-Family
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Basement, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bathroom 6, Bathroom 5
Parking features
Off Street, On Street, Driveway
Patio and Porch features
Porch
Interior features
Eat-in Kitchen
Exterior features
Balcony, Private Yard
Basement
Unfinished, Full
Appliances
Gas Oven, Water Heater, Refrigerator, Gas Range
Lot features
Back Yard, City Lot
Elementary school district
Mid Valley
Middle school district
Mid Valley
High school district
Mid Valley
Directions
Coming from Main Street in Dickson City turn right on W Lackawanna Ave, then take a left on Willow, left on Grant, & then a right on N River.
Standard status
Active
APN
11406060010
Size
4,153 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3421
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Water front
1
Building Details
Year built
1930
Floors in Building
2
Number of units
6
Flooring type
Combination
Roof type
Shingle
Architectural style
Other
Additional Structures
Residence
Listing Agency:
Keller Williams Real Estate-Clarks Summit · Keller Williams Realty
(570) 585-5800
Listed By:
Nicole Donato
(570) 687-8649
Added: Sep 1
Changed: Sep 12
Last Checked: Oct 19 at 6:06AM
MLS# SC264338
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.
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Investment Insights
Based on property information with market context.
This 6-unit apartment property includes a 4-unit front building and a separate 2-unit rear building on a 0.17-acre parcel. The buildings contain 4,153 square feet and include a mix of upgraded units, eat-in kitchens, balconies, porches, and a private yard. Appliances include gas ovens, gas ranges, refrigerators, and water heaters. Heating is provided by forced-air natural gas, with public water and public sewer serving the property. Parking is available on the street, off the street, and in the driveway.
The property is located at 224 N River Street in Olyphant, along the Lackawanna River and near walking trails, restaurants, and shops. The property is zoned Multi Family and was built in 1930. Long-term month-to-month tenants occupy the units, while several apartments have already received upgrades.
The property is located at 224 N River Street in Olyphant, along the Lackawanna River and near walking trails, restaurants, and shops. The property is zoned Multi Family and was built in 1930. Long-term month-to-month tenants occupy the units, while several apartments have already received upgrades.
Key Highlights
- 6‑unit property with a 4‑unit front building and 2‑unit rear building
- 4,153 square feet on a 0.17‑acre parcel
- Multi Family zoning in Olyphant, PA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,017
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,340
$640.3K
Cap Rate 7%
$457,386
$457.4K
Cap Rate 9%
$355,744
$355.7K
Market Conditions
NOI Build-Up for 4,153 SF
Gross rent
$61.8K $14.88/SF
− Vacancy
−$3.6K −$0.86/SF
EGI
$58.2K $14.02/SF
− OpEx
−$26.2K −$6.31/SF
NOI
$32.0K $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%
$640,340
Cap Rate 7%
$457,386
Cap Rate 9%
$355,744
Alternative Uses
Best Use
Apartment 5plus
$457.4K
$400.2K – $533.6K
NOI $32,017 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$922.4K – $1.23M
NOI $73,788 @ 7.0% cap · market cap 21.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 18447, PA
10,362
Population
4,799
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
521
Density / Sq Mi
$64,276
Median Household Income
$42,470
Median Earnings
$971
Median Rent
$194,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings include upgraded units, balconies, private outdoor space, and natural-gas forced-air heating.
Where is this apartment building located?
The property is located at 224 N River Street Olyphant, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 6‑unit property with a 4‑unit front building and 2‑unit rear building; 4,153 square feet on a 0.17‑acre parcel; Multi Family zoning in Olyphant, PA
