3-Unit Triplex with Rear
For Sale
$288,000
Pending
338 E Elm St, Scranton, PA 18505
Three-unit residential income property with separately metered utilities and off-street parking behind the building.
Property Size2,455 SF
Days on Market54
Property Features for 338 E Elm St
General Information
Standard status
Pending
Size
2,455 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,950
Listing Agency:
Keller Williams Real Estate - Stroudsburg
(570) 421-2890
Listed By:
Chelsea Aleksich · License #RS328668
(570) 982-8777
Source:
Exprealty
Added: Aug 27
Changed: Oct 16
Last Checked: Oct 19 at 9:07AM
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 Keller Williams Real Estate - Stroudsburg
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Investment Insights
Based on property information with market context.
This triplex contains 3 units within 2,455 square feet of property area. Each unit has separately metered utilities, providing distinct utility arrangements for the building. Off-street parking is available at the rear of the property.
Located at 338 E Elm St in Scranton, PA, the property is offered for sale as a residential income asset. The three-unit configuration and rear parking are the primary physical features identified for the property.
Located at 338 E Elm St in Scranton, PA, the property is offered for sale as a residential income asset. The three-unit configuration and rear parking are the primary physical features identified for the property.
Key Highlights
- 3‑unit triplex configuration
- 2,455 square feet of property area
- All utilities separately metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,246
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,920
$404.9K
Cap Rate 7%
$289,229
$289.2K
Cap Rate 9%
$224,956
$225.0K
Market Conditions
NOI Build-Up for 2,455 SF
Gross rent
$30.9K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$28.9K $11.78/SF
− OpEx
−$8.7K −$3.53/SF
NOI
$20.2K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,920
Cap Rate 7%
$289,229
Cap Rate 9%
$224,956
Alternative Uses
Best Use
Multifamily LT 5
$289.2K
$253.1K – $337.4K
NOI $20,246 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$270.4K
$236.6K – $315.4K
NOI $18,926 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$623.1K
$545.2K – $727.0K
NOI $43,619 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
888
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
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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?
Triplex - Three-unit residential income property with separately metered utilities and off-street parking behind the building.
Where is this triplex located?
The property is located at 338 E Elm St Scranton, PA.
What is the asking price?
The asking price for this property is $288,000.
What are key features of this property?
This property features: 3‑unit triplex configuration; 2,455 square feet of property area; All utilities separately metered
