329 Penn Ave Scranton, PA 18503

Property Details for 329 Penn Ave

Year built

1950

Lot size

0.16 lot acres

Property size

18,000 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use property, located at 329-331 Penn Avenue in Scranton, Pennsylvania, presents a lucrative investment opportunity. The main building offers 18,000 square feet of space, currently divided into two floors of professional office space. Attached is a three-story building housing six luxury apartments, ensuring a diverse and stable income stream. The property boasts a total of 24 parking spaces, including a convenient two-car garage, significantly enhancing its appeal to tenants. Further adding to its value is an included parking lot, identified by tax ID #1458301003, providing ample parking for both residents and office workers. The property sits on a 0.16-acre lot. Both buildings feature a newly installed rubber roof, completed in 2017, ensuring long-term durability and reduced maintenance costs. Currently operating at 100% occupancy, this property offers immediate cash flow and significant potential for future appreciation. The asking price for this exceptional mixed-use investment is $2,199,000. This is a rare opportunity to acquire a fully occupied, well-maintained property in a desirable Scranton location. The combination of office space and luxury apartments provides a diversified revenue stream, making this an attractive investment for both seasoned and new investors. The ample parking further enhances the property's desirability and value.

Location Insight

City

Scranton

County

Lackawanna

State

Pennsylvania

Longitude

-75.66457

Latitude

41.41169