106-108 Main Ave Scranton, PA 18504
- Mixed-use properties
Current Use by Public Records
- Mixed-use properties
Property Details for 106-108 Main Ave
- Year built
- 1920
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a three-story, 8-unit mixed-use building located at 106-108 S Main Ave, Scranton, PA 18504. The property, built in 1920, boasts two ground-floor commercial storefronts and six residential apartments above, offering a blend of income streams. Currently, the occupancy rate is 25%, with a projected full occupancy date of August 21, 2024. Four of the six apartments are move-in ready, featuring recent upgrades including new flooring. The remaining two units provide a value-add opportunity for renovation and increased rental income. The building is zoned for commercial use and benefits from recent improvements such as security cameras. The prime location in Scranton ensures high demand for both commercial and residential spaces. This property is a compelling value-add investment, presenting a chance to capitalize on Scranton's growing market. The asking price is $499,000. Consider adding coin-operated laundry facilities to further enhance rental income. All six apartments are studio style.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.6805
- Latitude
- 41.4123
