521-523 Cedar Avenue, Scranton, PA 18505

Property Description

Presenting a rare 5-unit multi-family income property situated on a desirable Scranton street, blending two first-floor commercial units with three residential apartments in one well-positioned building. The property is surrounded by a healthy mix of established businesses and residences, creating an attractive, high-visibility area with steady foot and vehicle traffic. Unit A is currently leased at $795 per month on a 12-month lease, providing immediate income from day one. Unit B has been newly remodeled and is turnkey-ready for the market, while Unit C was recently updated in 2025 and shows well throughout. Units D and E are also vacant, offering the incoming owner a clear value-add path to stabilize the building. Once fully leased, the property should generate upwards of nearly $4,000 per month in gross rents. The seller has already made meaningful capital improvements, including a new roof over the sections of the building covering the residential area, along with exterior trim, gutter, and fascia repairs. With income in place, updated space ready to lease, and major capital work already handled, this is a strong opportunity for an investor seeking cash flow and upside in one package.