
522 524 River St Scranton, PA 18505
South Side NeighborhoodEstimated payment $3,258/month
Highlights
- Private Yard
- Balcony
- Luxury Vinyl Tile Flooring
- No HOA
- Living Room
- 2-minute walk to Connors Park
About This Home
Turnkey 5-Unit Investment Opportunity on River StreetFully occupied and generating over $54,600 in annual gross income, this well-maintained 5-unit complex is a strong, cash-flowing asset. Four of the five units have been extensively upgraded with modern kitchens featuring granite countertops and new appliances, updated flooring, fresh paint, and remodeled bathrooms--providing quality living spaces tenants appreciate.Each unit is separately metered, with tenants responsible for their own electric (including heat and hot water). Water is sub-metered and can be billed back, optimizing your utility cost management. The building offers coded front and rear entry for both security and ease of access.Additional highlights include a large backyard and rear off-street parking for tenant convenience.Bonus Value-Add Potential:Unlock even more income with the property's expansive walk-up attic, offering the perfect canvas for future apartment conversions, premium storage units, or creative revenue streams. With the right vision and upgrades, this untapped space could dramatically increase long-term returns. Additionally, the full-height basement provides an excellent opportunity to install tenant storage lockers or other rentable features, adding immediate, low-maintenance monthly income.Owner is a Licensed RE Broker.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,129
Year Built
- Built in 1919 | Remodeled
Lot Details
- 6,970 Sq Ft Lot
- Lot Dimensions are 45'x157'x45'x157'
- Private Yard
- Land Lease expires 2/28/26
Interior Spaces
- 7,200 Sq Ft Home
- 3-Story Property
- Ceiling Fan
- Living Room
- Dining Room
- Luxury Vinyl Tile Flooring
Kitchen
- Electric Oven
- Microwave
Bedrooms and Bathrooms
- 8 Bedrooms
- 5 Full Bathrooms
Unfinished Basement
- Heated Basement
- Basement Fills Entire Space Under The House
Parking
- On-Street Parking
- Off-Street Parking
Additional Features
- Balcony
- Baseboard Heating
Listing and Financial Details
- Security Deposit $975
- Assessor Parcel Number 15616040055
Community Details
Overview
- No Home Owners Association
- 5 Units
Building Details
- Gross Income $54,600
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
08/19/2025 08/19/25 | Price Changed | $489,000 | -2.0% | $68 / Sq Ft |
06/18/2025 06/18/25 | Price Changed | $499,000 | -3.9% | $69 / Sq Ft |
05/24/2025 05/24/25 | For Sale | $519,000 | 0.0% | $72 / Sq Ft |
03/07/2015 03/07/15 | Rented | $7,140 | +1042.4% | -- |
03/06/2015 03/06/15 | Under Contract | -- | -- | -- |
09/21/2014 09/21/14 | For Rent | $625 | -91.7% | -- |
06/15/2014 06/15/14 | Rented | $7,500 | +1100.0% | -- |
06/01/2014 06/01/14 | Under Contract | -- | -- | -- |
03/21/2014 03/21/14 | For Rent | $625 | -- | -- |
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