7-Unit Multifamily
622 Jefferson Avenue Scranton, PA 18510
622 Jefferson Avenue, Scranton, PA, 18510
$835,000
For Sale
$835,000
7-unit multifamily property with brand-new roof, separate utilities, and 16 parking spots behind the building.
Property Size9,000 SF
Price / SF$92.78
Days on Market593
Property Features for 622 Jefferson Avenue
General Information
- Standard status
- Active
- Size
- 9,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing agency
Cobblestone Real Estate LLC
(504) 762-0536
Listed by
Kelly McDonald · License #RS358325
(504) 762-0536
Source
Exitrealty
Added: Dec 5, 2024 Updated: Jul 20 at 5:00PM Checked: Jul 21 at 4:40AM
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 Cobblestone Real Estate LLC
Investment Insights
Based on property information with market context.
This 7-unit multifamily property is back on the market with a brand-new roof. The building is set up with separate utilities, supporting convenient, self-contained operations across the units. Off-street parking is available with 16 spaces located behind the building, adding practical value for residents.
The property is located at 622 Jefferson Avenue in Scranton, Pennsylvania, and is described as being near major hospitals and schools, offering everyday convenience for tenants.
With good unit layouts and an income-generating configuration, this is a straightforward multifamily option for investors seeking a property they can evaluate based on its existing operating structure and parking arrangement.
The property is located at 622 Jefferson Avenue in Scranton, Pennsylvania, and is described as being near major hospitals and schools, offering everyday convenience for tenants.
With good unit layouts and an income-generating configuration, this is a straightforward multifamily option for investors seeking a property they can evaluate based on its existing operating structure and parking arrangement.
Key Highlights
- 7‑unit multifamily property built in 1920
- Brand‑new roof (back on market)
- Separate utilities for the units
Local Financial Insights For Apartment 5plus
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 | $133.9k | $14.88 |
| − Vacancy | −$7.8k | −$0.86 |
| EGI | $126.2k | $14.02 |
| − OpEx | −$56.8k | −$6.31 |
| NOI | $69.4k | $7.71 |
9,000 SF · lease $14.88/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$991.2K
$867.3K – $1.16M
NOI $69,384 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.67M
NOI $159,906 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - 7-unit multifamily property with brand-new roof, separate utilities, and 16 parking spots behind the building.
Where is this apartment building located?
The property is located at 622 Jefferson Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: 7‑unit multifamily property built in 1920; Brand‑new roof (back on market); Separate utilities for the units
