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605-609 Pittston 605 Pittston Ave 8 Unit Apartment Building $963,045 CAD ($120,381 CAD/Unit) 12.82% Cap Rate Scranton, PA 18505

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EXECUTIVE SUMMARY

This sale consists of two apartment buildings- First building is 4 units (605 Pittston Ave.). Behind this 4 unit is a 1,564 block garage built in 2003 --tenant is an auto repair center. Second building is a 2 unit (609 Pittston Ave.). Behind the 2 unit apartment building is a 3,200 SF garage used for auto detailing. Please see attached Income/Expense sheet. Fully rented, great opportunity.

605-609 Pittston Financial Info. 1-22-24

PROPERTY FACTS

Price	$963,045 CAD	Building Class	C
Price Per Unit	$120,381 CAD	Lot Size	0.41 AC
Sale Type	Investment	Building Size	10,968 SF
Cap Rate	12.82%	Average Occupancy	100%
No. Units	8	No. Stories	2
Property Type	Multifamily	Year Built	1940
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	Commercial - Commercial

Price	$963,045 CAD
Price Per Unit	$120,381 CAD
Sale Type	Investment
Cap Rate	12.82%
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.41 AC
Building Size	10,968 SF
Average Occupancy	100%
No. Stories	2
Year Built	1940
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Commercial - Commercial

SITE AMENITIES

Car Wash Area

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Walk Score®

Very Walkable (81)

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PROPERTY TAXES

Parcel Number	15616030028	Improvements Assessment	$28,202 CAD
Land Assessment	$4,512 CAD	Total Assessment	$32,714 CAD

PROPERTY TAXES

Parcel Number

15616030028

Land Assessment

$4,512 CAD

Improvements Assessment

$28,202 CAD

Total Assessment

$32,714 CAD

(570) 586-2911

CONTACT

Chris O'Boyle
O'Boyle Real Estate

Listing ID: 27263980
Date on Market: 2022-12-07
Last Updated:
Address: 605 Pittston Ave, Scranton, PA 18505

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