604 Cedar Avenue, Scranton, PA 18505

Property Description

Prime Investment Opportunity on Busy Cedar Ave - 5-Unit Property with Endless Potential!Discover this recently renovated corner property on bustling Cedar Ave, offering a perfect blend of residential and commercial spaces. This versatile building features 2 apartments, 2 commercial units, and a spacious (appx) 20x40 garage that opens the door to endless possibilities Property Highlights:Residential Units: Two well-maintained apartments upstairs. One is currently occupied, generating $1,200/month in rental income, while the other is being renovated and offers similar income potential.Commercial Spaces: A thriving hair salon occupies one ground-floor unit, generating $1,200/month. The other unit houses a laundromat and a game-of-skill room, currently operated by the building owner, bringing in an impressive $2,200/week in revenue.Garage Space: A massive 20x40 garage with potential for a detail shop, workshop, or other creative uses, offering an estimated rental value of $750/month.Additional Income: A digital sign on the property generates extra income, making this an even more attractive investment.Recent Upgrades:New roof (2018 approx)New siding and exterior improvementsUpdated systems throughoutBrand-new laundry machines installed ~ 2023Seller Note: The seller may consider creative financing options with a six-figure down payment.This property is a turnkey investment with a strong income profile and potential for even greater returns. With its prime corner location, high visibility, and diverse income streams, this is an opportunity you don't want to miss.Income Breakdown:Game room & laundromat: $2,200/weekLaundry space rent $2500Hair salon: $1,200/monthApartment 1: $1,200/month (occupied)Apartment 2: $1,200/month (potential)Garage: $750/month (potential)Whether you're an investor seeking a high-performing property or an entrepreneur looking for a mixed-use space with excellent income potential, this works