621 Madison Avenue, Scranton, PA 18510 (MLS# 25-5209)

$998,000

621 Madison Avenue, Scranton, PA 18510

4,275 sqft

Description

Scranton, PA - 7-Unit Multi-Family 11 CAP Investment *Prime Medical District Location * Exceptional opportunity to own a fully renovated 7-unit multi-family property located just one block from Moses Taylor Hospital and two blocks from the Geisinger Commonwealth School of Medicine. This property sits in a prime location for medical students, hospital employees, and

Supplements: professionals, offering a rare blend of convenience and steady rental demand. The building features updated apartments throughout, with separate utilities for each unit keeping owner expenses low. A new roof is currently being installed, and construction has just been completed, positioning this property for immediate lease-up and strong future income. Rents are projected based on market value and the property's desirable location. Nestled along Madison Avenue, this pretty, quiet building offers tenants a peaceful setting while being within walking distance to shops, restaurants, events, and public transportation. Easy access to major highways and the airport adds to its appeal for commuters and traveling professionals. Property Highlights: 7 total units - all updated and move-in ready 11% projected CAP rate One new tenant secured; others ready for lease-up All separate utilities New roof in progress One block to Moses Taylor Hospital, two blocks to medical school Walkable to shopping, dining, and entertainment Close to I-81, I-380, and Wilkes-Barre/Scranton International Airport A prime addition to any investment portfolio - turnkey updates, high projected returns, and unbeatable location near Scranton's medical and education hub. Perfect location for med student housing or hospital staff. Strong income potential in a peaceful, central setting. This property is part of a 3 building portfolio that can possibly come with portfolio pricing for the savvy investor. MLS #25-5205 and #25-5206

More Information

Property Sub Type: Multi Family
Realtor.COM Type: Multi-Family
Aprx Total SF: 4275
Est Age Range: 76 - 100 Yrs
Lot Size: 40x160
Parking: On-Street
Current Price: $998,000
List Price: $998,000
List Date: 2025-10-14
Limited Service: No
House # (1): 621
Street Name: Madison
Street Suffix: Avenue
City (Post Office): Scranton
State/Province: PA
Zip Code: 18510
County: Lackawanna
MLS Area: Misc Out of County
School District: Scranton
Municipality: Scranton City
Develop/Subdivision: None
Directions: From Spruce st go towards Central City. Turn right onto Madison Ave toward hospital. Turn slightly left onto Madison Ave. House is on the left
Status: Active
Annual Gross Income: 93300
Annual Electric Exp: 1000
Annual Real Est Tax: 4090
Annual Fire/Liabilty: 1024
Total Annl Expenses: 6111
Anl Net Inc b/4 Debt: 87189
# Ranges: 7
# Refrigerators: 7
Unit #: 1
Approx SF: 600
# Rooms: 4
Monthly Rent: 1250
# Bedrooms: 2
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N
Unit #: 2
Approx SF: 600
# Rooms: 4
Monthly Rent: 1250
# Bedrooms: 2
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N
Unit #: 3
Approx SF: 575
# Rooms: 4
Monthly Rent: 1200
# Bedrooms: 2
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N
Unit #: 4
Approx SF: 575
# Rooms: 4
Monthly Rent: 1200
# Bedrooms: 2
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Unit #: 5
Approx SF: 562
# Rooms: 4
Monthly Rent: 1075
# Bedrooms: 1
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N
Unit #: 6
Approx SF: 562
# Rooms: 3
Monthly Rent: 1075
# Bedrooms: 1
Kitchen Style: Modern
# Baths: 1
Lease: Y
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N
Unit #: 7
Approx SF: 800
# Rooms: 5
Monthly Rent: 1300
# Bedrooms: 3
Kitchen Style: Modern
# Baths: 1
Lease: N
Heat in Rent: N
Hot Water in Rent: Y
Electric in Rent: N
Water in Rent: N
Sewer in Rent: N

Property Features

Showing Instructions: Other - See Remarks Heat Fuel Type: Electric Heat Type: Electric Baseboard AC Type: None Condition: Good Exterior: Vinyl; Wood Roof: Comp Shingle; Other - See Remarks Interior Finish: Drywall; Paneling; Plaster Water: Public Sewer: Public Basement: Partial

Property Info

ID: MLS# 25-5209
Type: Residential Income
Status: Active
Current Price: $998,000
List Date: 10/15/2025
Listing Office: eXp Realty- Scranton/Wilkes-Barre

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