Renovated Three-Unit Apartment
For Sale
$350,000
Pending
335 Phelps Street, Scranton, PA 18509
MULTI_FAMILY - Scranton, PA
Property Size2,500 SF
Lot Size0.11 Acres
Days on Market147
Property Features for 335 Phelps Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 6, Basement, Bathroom 1, Bedroom 1, Bathroom 4
Parking
3
Parking features
Off Street, On Street
Patio and Porch features
Deck, Porch
Interior features
Eat-in Kitchen, Attic Storage, Granite Counters
Exterior features
Rain Gutters
Fencing
Fenced, Chain Link
Basement
Walk-Out Access
Appliances
Gas Oven, Refrigerator
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From Wyoming Ave, turn on to Phelps and house is on the Right
Standard status
Pending
APN
14512050077
Size
2,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2717
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Gas (Cooling), Central Air, Ductless
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Vinyl
Building materials
Stucco
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Diane Stracham · License #RS318034
(570) 241-3982
Added: Mar 7
Changed: Jul 28
Last Checked: Aug 1 at 12:06AM
MLS# SC260911
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 is a fully renovated three-unit apartment building, ready for occupancy. Each unit features a new kitchen, modern bathroom, and vinyl flooring. The property has separate utilities for all units, offering an opportunity for cash flow with no immediate renovations needed. The building is ready to lease. The property size is approximately 2500 square feet on a lot of approximately 0.11 acres. The zoning is R3. It is located in Scranton, Lackawanna County, Pennsylvania.
Key Highlights
- Fully renovated 3‑unit apartment building built in 1930
- Each unit includes a brand‑new kitchen and modern bathrooms
- Vinyl flooring throughout and granite counters in the eat‑in kitchen
Financial Insights For Multifamily LT 5
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 | $31.5k | $12.60 |
| − Vacancy | −$2.0k | −$0.82 |
| EGI | $29.5k | $11.78 |
| − OpEx | −$8.8k | −$3.53 |
| NOI | $20.6k | $8.25 |
2,500 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$294.5K
$257.7K – $343.6K
NOI $20,617 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,273 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$634.5K
$555.2K – $740.3K
NOI $44,418 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,131
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Turn-key three-unit apartment building with separate utilities and new renovations.
Where is this triplex located?
The property is located at 335 Phelps Street Scranton, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully renovated 3‑unit apartment building built in 1930; Each unit includes a brand‑new kitchen and modern bathrooms; Vinyl flooring throughout and granite counters in the eat‑in kitchen
