Turn-Key Triplex with Upgraded
622-624 S Main Avenue Scranton, PA 18504
For Sale
$320,000
Pending
MULTI_FAMILY - Scranton, PA
Property Size2,325 SF
Lot Size0.20 Acres
Days on Market49
Property Features for 622-624 S Main Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
N
Bedrooms
8
Bathrooms
8
Rooms
Bathroom 7, Bedroom 1, Basement, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 2, Bedroom 7, Bathroom 5, Bathroom 3, Bedroom 8, Bedroom 4, Bathroom 8
Parking features
Garage, Driveway, Open
Fencing
Fenced
Basement
Unfinished, Full
Standard status
Pending
APN
15609040012
Size
2,325 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5394
Utilities
Heating system
Natural Gas
Building Details
Year built
1901
Floors in Building
2
Number of units
3
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Alyssa Mackiw · License #RS366528
(570) 861-9100
Added: Jun 11
Changed: Jul 12
Last Checked: Jul 29 at 9:06AM
MLS# SC262750
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 turn-key, fully occupied triplex includes three rental units with a unit mix of one 4-bedroom apartment and two 2-bedroom apartments. The property has undergone extensive capital improvements designed to reduce near-term maintenance, including three new furnaces, three new hot water heaters, three new electrical panels, updated plumbing, and luxury vinyl plank flooring throughout. Ownership also benefits from separate gas and electric utilities, helping allocate utility responsibility by unit. Outside, the detached garage, off-street parking, and fully fenced yard provide practical tenant amenities.
Located at 622-624 S Main Avenue in Scranton, Pennsylvania, the property is described as convenient to grocery stores, shopping, restaurants, schools, public transportation, and major commuter routes. The surrounding retail and service uses support ongoing day-to-day convenience for tenants.
For investors or owner-operators seeking a rental property with reduced upfront work, this configuration offers immediate occupancy and a clear improvement history. The current gross income is approximately $42,000 annually, with the seller noting room for potential future rent increases. The combination of tenant-appropriate unit sizes, separated utilities, and completed mechanical upgrades makes the triplex a straightforward option for steady residential income management.
Located at 622-624 S Main Avenue in Scranton, Pennsylvania, the property is described as convenient to grocery stores, shopping, restaurants, schools, public transportation, and major commuter routes. The surrounding retail and service uses support ongoing day-to-day convenience for tenants.
For investors or owner-operators seeking a rental property with reduced upfront work, this configuration offers immediate occupancy and a clear improvement history. The current gross income is approximately $42,000 annually, with the seller noting room for potential future rent increases. The combination of tenant-appropriate unit sizes, separated utilities, and completed mechanical upgrades makes the triplex a straightforward option for steady residential income management.
Key Highlights
- Fully occupied 3‑unit triplex with a unit mix of one 4‑bedroom apartment and two 2‑bedroom apartments
- Annual gross income of approximately $42,000 (as stated in remarks)
- Major capital improvements include 3 brand‑new furnaces, 3 new hot water heaters, 3 new electrical panels, and updated plumbing
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 | $29.3k | $12.60 |
| − Vacancy | −$1.9k | −$0.82 |
| EGI | $27.4k | $11.78 |
| − OpEx | −$8.2k | −$3.53 |
| NOI | $19.2k | $8.25 |
2,325 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$273.9K
$239.7K – $319.6K
NOI $19,174 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$256.1K
$224.1K – $298.7K
NOI $17,924 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$590.1K
$516.4K – $688.5K
NOI $41,309 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with a 4-bedroom and two 2-bedroom units, featuring major mechanical and utility upgrades.
Where is this triplex located?
The property is located at 622-624 S Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Fully occupied 3‑unit triplex with a unit mix of one 4‑bedroom apartment and two 2‑bedroom apartments; Annual gross income of approximately $42,000 (as stated in remarks); Major capital improvements include 3 brand‑new furnaces, 3 new hot water heaters, 3 new electrical panels, and updated plumbing
