316 Taylor Ave Scranton, PA 18510
- Dormitories
- 18,500 SF
- 0.04 lot acres
Current Use by Public Records
- The Flats @ Taylor (Student Housing) / Apartment Building
Property Details for 316 Taylor Ave
- Year built
- 1930
- Lot size
- 0.04 lot acres
- Property size
- 18,500 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional 18-unit apartment building, totaling 18,500 square feet, presents a compelling investment opportunity in Scranton, Pennsylvania. Situated on a 0.04-acre lot at 316 Taylor Ave, this four-story, 1930-built property benefits from a prime location adjacent to the University of Scranton within the desirable "Eds and Meds" neighborhood. Recent capital improvements exceeding $650,000 have significantly enhanced the property, including renovations to 18 units, a new roof, and upgraded laundry facilities. The spacious three-bedroom units offer over 1,000 square feet of living space, while value-add opportunities exist within the two-bedroom units. The property's strong location near multiple universities, colleges, and hospitals ensures a consistent demand from students and medical professionals. With a current asking price of $2,597,910 ($140.43/sq ft and $144,328.33/unit), this multifamily asset offers a compelling return on investment. The property is zoned for multi-family use and boasts a diverse tenant base, contributing to its strong financial performance and potential for future growth. This is a rare opportunity to acquire a well-maintained, high-demand property in a thriving Scranton neighborhood. The building's proximity to major educational and medical institutions, combined with its recent renovations, positions it for continued success in a robust rental market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.6524928
- Latitude
- 41.40386
