5-Unit Apartment
For Sale
$489,000
913 Albright Avenue, Scranton, PA 18508
Two separate residential buildings place five rental units on one corner parcel.
Property Size4,062 SF
Days on Market8
Property Features for 913 Albright Avenue
General Information
Standard status
Active
Size
4,062 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,876
Building Details
Building Size
4,062 SF
Year Built
1930
Buildings
2
Listing Agency:
Keller Williams Real Estate-Clarks Summit
Listed By:
Sherrie L Miller · License #RM423823
(570) 430-1599
Source:
Luxehomesnepa
Added: Oct 14
Changed: Oct 21
Last Checked: Oct 21 at 2:09AM
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-Clarks Summit
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two apartment buildings with five units total: three in the front structure and two in the rear. Built in 1930, the buildings offer a multi-structure rental configuration on a corner lot.
Tenants pay all utilities except sewer, which is billed separately. The property is located at 913 Albright Avenue in Scranton, Pennsylvania.
Tenants pay all utilities except sewer, which is billed separately. The property is located at 913 Albright Avenue in Scranton, Pennsylvania.
Key Highlights
- Five units across two buildings: three in front and two in rear
- Corner lot at 913 Albright Avenue, Scranton, PA 18508
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,315
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$626,300
$626.3K
Cap Rate 7%
$447,357
$447.4K
Cap Rate 9%
$347,944
$347.9K
Market Conditions
NOI Build-Up for 4,062 SF
Gross rent
$60.4K $14.88/SF
− Vacancy
−$3.5K −$0.86/SF
EGI
$56.9K $14.02/SF
− OpEx
−$25.6K −$6.31/SF
NOI
$31.3K $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%
$626,300
Cap Rate 7%
$447,357
Cap Rate 9%
$347,944
Alternative Uses
Best Use
Apartment 5plus
$447.4K
$391.4K – $521.9K
NOI $31,315 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$902.1K – $1.20M
NOI $72,171 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
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 separate residential buildings place five rental units on one corner parcel.
Where is this apartment building located?
The property is located at 913 Albright Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Five units across two buildings: three in front and two in rear; Corner lot at 913 Albright Avenue, Scranton, PA 18508; Built in 1930
