522 524 River Street, Scranton, PA 18505

New Listing
$489,000
Property Type: Residential Income Bedrooms: 8 Baths: 5 Square Footage: 7,200 Status: Active
Current Price: $489,000 List Date: 6/09/2026 Last Modified: 6/09/2026

Overview

Description

Turnkey 5-Unit Investment Opportunity on River Street Fully 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, ...

Listing Details MLS# PW-251537

General Property Information

Number Of Buildings
Yes
Number Of Units Total
5
Bedrooms Total
8
Bathrooms Total
5
Bathrooms Full
5
Above Grade Finished Area
7200
Below Grade Finished Area
2400
Living Area
7200
Year Built
1919
Year Built Source
Public Records
New Construction YN
No
Garage YN
No
Lot Size Acres
0.16
Lot Size Dimensions
45’x157’x45’x157’
Lot Dimensions Source
Public Records
Association YN
No
Waterfront YN
No
Water Body Name
None
Basement YN
Yes
Stories
3
List Price/SqFt
67.92
Bathrooms Half
0
Garage Spaces
0

Property Features

Appliances: Electric Oven; Microwave; Refrigerator Basement: Full; Heated; Unfinished Cooling: Ceiling Fan(s) Current Use: Commercial; Multi-Family Exterior Features: Balcony; Private Yard Flooring: Luxury Vinyl Heating: Baseboard; Electric Income Includes: Rent Only Levels: Three Or More Parking Features: Alley Access; Off Street; On Street Property Condition: Updated/Remodeled Road Frontage Type: City Street Road Responsibility: Public Maintained Road Sewer: Public Sewer Structure Type: Multi Family Tenant Pays: Electricity; Water; Other Water Source: Public

Contract Information

Listing Contract Date
2025-05-24
Property Sub Type
Apartment
Listing Service
Full Service

Location Tax and Legal

Street Number
522
Street Name
524 River
Street Suffix
Street
County
Lackawanna
State
PA
Postal Code
18505
Subdivision Name
None

Remarks and Miscellaneous

Public Remarks
Turnkey 5-Unit Investment Opportunity on River Street Fully 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.

Status Change Information

Major Change Timestamp
2026-06-09T16:31:33Z
Major Change Type
Status Change
Price Change Timestamp
2025-08-19T23:50:38Z

More Information

Income and Expenses

Gross Income
54600

Unit 1

Unit #
Yes
Actual Rent
825
Security Deposit $
825
SqFt Total
1250
Dining Room YN
Yes
Kitchen YN
Yes
Living Room YN
Yes
Occupied YN
Yes
Unit Remarks
M-M

Unit 2

Unit #
2
Actual Rent
700
Security Deposit $
700
SqFt Total
1250
Dining Room YN
Yes
Kitchen YN
Yes
Living Room YN
Yes
Occupied YN
Yes
Unit Remarks
M-M

Unit 3

Unit #
3
Actual Rent
1050
Security Deposit $
1050
SqFt Total
1250
Dining Room YN
No
Kitchen YN
Yes
Living Room YN
Yes
Occupied YN
Yes
Lease Expiration Date
2026-02-28

Unit 4

Unit #
4
Actual Rent
975
Security Deposit $
975
SqFt Total
1000
Dining Room YN
No
Kitchen YN
Yes
Living Room YN
Yes
Occupied YN
Yes
Unit Remarks
M-M

Unit 5

Unit #
5
Actual Rent
1000
Security Deposit $
1000
SqFt Total
1000
Dining Room YN
No
Kitchen YN
Yes
Living Room YN
Yes
Occupied YN
Yes
Unit Remarks
M-M

Unit Details

1 Bedroom
2
2 Bedroom
3

Location, Tax, and Legal

Municipality
City Of Scranton
High School District
Scranton School District
County Tax Amount
1934.58
Municipal Tax Amount
894.32
School Tax Amount
3178.75
Tax Annual Amount
7129.04
Tax Year
2024
Tax Assessed Value
316265
Parcel Number
15616040055
Additional Parcels YN
No
Zoning
Residential
Tax Book Number
202213445

Appliances

Electric Oven
Yes
Microwave
Yes
Refrigerator
Yes

Basement

Full
Yes
Heated
Yes
Unfinished
Yes

Cooling

Ceiling Fan(s)
Yes

Current Use

Commercial
Yes
Multi-Family
Yes

Exterior Features

Balcony
Yes
Private Yard
Yes

Flooring

Luxury Vinyl
Yes

Heating

Baseboard
Yes
Electric
Yes

Levels

Three Or More
Yes

Parking Features

Alley Access
Yes
Off Street
Yes
On Street
Yes

Property Condition

Updated/Remodeled
Yes

Road Frontage Type

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Sewer

Public Sewer
Yes

Structure Type

Multi Family
Yes

Water Source

Public
Yes

Tenant Pays

Electricity
Yes
Water
Yes
Other
Yes

Income Includes

Rent Only
Yes

Documents

Listing Office: SIX PM LLC
Last Updated: June - 09 - 2026
Information displayed on this website on listings other than those of the website owner is displayed with permission of the Pike Wayne Association of REALTORS and Broker/Participants of the Pike Wayne MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is from sources deemed reliable but is not guaranteed. Prospective buyers should verify information independently.
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