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15 Unit Scranton & Wilkes Barre Portfolio
15 Unit Scranton & Wilkes Barre Portfolio
Offered at $900,000.00
Offered at $900,000.00
Value add rental portfolio of 4 properties totaling 15 units! Get them while you can, these are all in the hot rental market of Scranton. Many of these units are renovated and turn key, but there is still some meat on the bone for value add possibilities. Even better, seller is open to a "Subject To" sale so you can take advantage of the in-place loans with low interest rates.
Value Add Opportunities:
Increase rents to market value.
Renovate vacant legal studio unit at 1222 Prospect
Renovate 646 E Elm St & Raise Rent (20 Yr existing tenant in place)
1 - 2 UNIT
1 - 3 UNIT
1 - 4 UNIT
1 - 6 UNITGross Rent Income: $126,420
Net Rent Approx $80,292 (includes est tax, insurance, utilities, vacancy, maintenance, management)
Proof of Funds & Letter of Intent (LOI) required for access.
NOTE:
All information on this page has been provided is not guaranteed accurate or fully correct. The information might be out of date, estimated, approximated, or incorrect. Photos gathered from public sources to provide sample of property condition, however photos are not exhaustive, may be out of date or incorrectly attributed to the property. All information is confidential and not for dissemination or release to any other third party. Prospective buyer agrees to conduct his or her own due diligence and examination of financial data and agrees not to rely upon this information in any way in forming a decision or purchasing one or more properties.
Financial Details
(Note: Rent Rolls to be provided for confirmation during due diligence)
15 Unit Scranton/Wilkes (MI Portfolio) - Expenses Detailed.xlsx
Property Details
148 Barney St Wilkes Barre, PA 18702
6 Units
Entire building has new furnaces, water heaters, plumbing, and vinyl replacement windows. 1 of the units needs moderate renovations (paint and floors and a 6’ kitchen), it already has a new bathroom. Building likely need new shingles on pitched section in near future (no leaks). Flat section has new EPDM rubber roof installed. Owner pays: water, sewer, common area gas heat. Property currently managed by Parasole Properties.
Unit 1A - 1 Bed 1 Bath - Pictures
Unit 1B - 1 Bed 1 Bath - Pictures
Unit 1C - 2 Bed 1 Bath - Pictures
Unit 2F - 2 Bed 1 Bath - Pictures
Unit 2R - 1 Bed 1 Bath - No Pictures Needs Reno as described above
Unit 3 - 2 Bed 1 Bath - Pictures
1222 Prospect Ave Scranton, PA 18505
4 Units
Property is currently operating as a 3 unit with renovated units. The property does have a 4th legal unit (studio) located in the basement. This 4th unit will need full renovation. Also has garage available to rent. Owner responsible for water and sewer only, all other utilities separated & paid by tenants. Property currently managed by Parasole Properties.
Unit 1 - 1 Bed 1 Bath - Pictures
Unit 2 - 1 Bed 1 Bath - Pictures
Unit 3 - 3 Bed 1 Bath - Pictures
Unit 4 - BSMT Studio - No Pictures needs total reno
Garage - 2 Car No Pictures
644 - 646 E Elm St Scranton, PA 18505
3 Units
Property consists of 2 houses on one parcel (1 - 2 Unit and 1 SFH). SFH could use renovation if looking for value add opportunity or can continue as is (tenant has been there 20 years). 2 Unit has been renovated. Owner pays Water / Sewer. Property currently managed by Parasole Properties.
644 E Elm Unit 1: 1 Bed 1 Bath - Pictures
644 E Elm Unit 2: 1 Bed 1 Bath - Pictures
646 E Elm SFH: 2 Bed 1 Bath - No Pictures
Notices and Disclosures
Notices and Disclosures
- YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY: Any estimates, financials, photos, or other information provided are for real estate investors’ convenience, who must verify all information independently. ANY information regarding specifications, characteristics, or condition of this property, neighborhood, or investment strategy (including, but not limited to, as-is property square footage measurements or as implied by property expansion through construction, plans, layouts, or speculative information) is an unverified assumption of Prosperity Property Solutions or its affiliates based on limited information and should be verified independently for accuracy. Prosperity Property Solutions and its affiliates assume no liability, either expressed or implied, for the accuracy of any estimates or information provided. Information is not guaranteed accurate or fully correct. The information might be out of date, estimated, approximated, or incorrect.
- DO NOT ENTER PROPERTY: Prosperity Property Solutions and its affiliates do not give authority, either expressed or implied, to the recipient of this information to enter this property. A property inspection may be obtained by scheduling an inspection with an authorized broker or agent.
- NON-REPRESENTATION: Prosperity Property Solutions and its affiliates do NOT represent the recipient of this information.
- RISK OF LOSS: Real estate investment is speculative in nature and risk of loss can be substantial. The recipient of this information should carefully consider whether such investing is suitable for them.
- CLOSING COSTS: All closing costs shall be paid by buyer
- AS IS SALE: Property is sold as-is with all faults. Property is For Sale by Owner or equitable interest party. Seller may but is not required to clean out property.
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