1212 Mulberry StScranton, PA 18510

Property Details for 1212 Mulberry St

Lot size

0.07 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

15737020019

APU

15737020019

Description

This exceptional mixed-use, multifamily property, located at 1212 Mulberry St, Scranton, PA 18510, presents a compelling investment opportunity. The 5,569 square foot building, constructed in 1950, sits on a 0.065-acre lot and is zoned 0-19. Currently configured as student housing, the three-story building offers significant potential for redevelopment or renovation. Its strategic location within Scranton University territory ensures high demand and strong rental income potential. The property's proximity to popular local establishments, such as Goodfellas, contributes to a vibrant and desirable neighborhood with high foot traffic. The asking price is $1,195,000, translating to $214.58 per square foot. This represents a unique chance to acquire a valuable asset in a bustling, high-demand area near the university and local amenities, ideal for a modern student-focused development. The property's location in Lackawanna County offers easy access to campus and various conveniences. This is a rare opportunity to capitalize on the strong student housing market in Scranton.

• CAP approach

  CAP return

  Valuation

  6%

  $705,500

  6.5%

  $651,231

  7%

  $604,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $373,569

  Geo Method

  $371,074

• Alternative Use

  Use

  Valuation

  Residential

  $807,526

  Hospitality

  $739,690

  Educational

  $615,413

  Medical

  $636,578

  Retail

  $957,309

Location Insight

City

Scranton

County

Lackawanna

State

Pennsylvania

Latitude

41.4048

Longitude

-75.6527

CBSA code

42540

CBSA name

SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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