Address
207 209 Lackawanna Avenue, Olyphant, PA
Price
$ 325,000
Property Attributes
  • MLS#SC620
  • TypeMulti-Family
  • CountyLACKAWANNA
  • CityOlyphant
  • AreaLackawanna County
  • Zip18447
  • StyleConverted
  • Year Built1926
  • Taxes$ 2920
  • Price$ 325,000
  • Bedrooms8
  • Full Bathrooms2
  • Half Bathrooms1
  • Sqr Footage704
  • Lot Size0.1 Acres
Data Source:
Scranton MLS (SPMLS)
Property Description

Welcome to this fantastic investment opportunity located in the heart of downtown Olyphant! This mixed-use building offers a strategic combination of commercial and residential spaces, making it an ideal prospect for savvy investors.Consisting of 2 storefronts (office and retail) and 2 apartments at the rear, this property is versatile and caters to various business and residential needs. All four units are currently rented, providing immediate income for the new owner. This property generates a robust gross income of $28,200, this property promises a steady and attractive return on investment. The property boasts a recently installed roof, ensuring longevity and minimizing maintenance costs. The basement has also been painted and paneled. Additional features include off-street parking for tenants and well as a detached 20 x 20 garage which can be utilized or rented out for storage, adding an extra dimension to the property's income potential.Recent sales in the vicinity, including a building just one block away selling for over $1 million, underscore the burgeoning value and potential of this downtown locale. Downtown Olyphant is experiencing a renaissance, with new businesses and high-end residential apartments emerging. This trend contributes to the overall desirability and potential appreciation of the property. Don't miss out on this prime investment opportunity in the flourishing downtown Olyphant area. Whether you're an investor looking for a reliable income stream or someone seeking a strategic commercial-residential mix, this property has it all. Contact us for more information or to schedule a viewing today!All information and measurements are approximate, not warranted or guaranteed.

Price History
1/12/2024 Listed $325,000

General Features

Sewer Public Sewer
Heating Hot Water,Natural Gas
Cooling None
Possession Close Of Escrow
Roof Composition,Wood
Appliances Range,Refrigerator
Exterior Features Private Entrance
Zoning Commericial
Garage Spaces 2
Patio/Porch Features None
Architectural Style Converted
Pool Features None
Security Features Smoke Detector(s)
Construction Materials Brick,Vinyl Siding
Exclusions No
Year Built 1926
Tenant Pays Electricity,Trash Collection,Gas
Stories 2
Levels One and One Half
Property SubType Multi Family
Tax Year 2023
Current Use Commercial,Mixed Use,Multi-Family,Investment
Gross Income 28200
OwnerPays Insurance,Water,Taxes,Sewer
Community Features None
County Lackawanna
Net Operating Income 22966
Operating Expense 5234
Insurance Expense 1115
New Construction No
Property Type Residential Income
HOA / Comm Assn No
MaintenanceExpense 150
Garage Y/N Yes
Status Active
Directions Turn left onto Main St,left onto Bridge St,Turn left onto E. Lackawanna Ave.
ModificationTimestamp 2024-02-12T16:40:29.651Z
City Olyphant
Buyer Agent Compensation 3.00
Senior Community Y/N No
High School District Mid Valley
Zoning Description Commercial
Total Units 4
Street Name Lackawanna Avenue
Spa Features None
Property Attached Y/N No
Land Lease Y/N Yes
Tax Annual Amount 2920.81
Current Financing Conventional
Additional Parcels Y/N No
Rent Control Y/N No
Days on Market 31
Structure Type Multi Family,Mixed Use
Standard Status Active
Year Built Source Owner
Tax Assessed Value 14000
TaxOtherAnnualAssessmentAmount 14000
Buyer Agent Compensation Type %

Interior Features

Basement Other
Flooring Other
Furnished Y/N Furnished
Furnished Units All Units
Basement (Y/N) Yes
Fireplace Y/N No
Above Grade Finished Area 704
Full Baths 2
Half Baths 1
Laundry Features Gas Dryer Hookup,Washer Hookup
Total Bedrooms 8
Total Baths 4

Exterior Features

Parking Features Concrete,Accessible Parking,On Street,Off Street,Garage,Driveway
Lot Features Level
Water Source Public
Total Parking 4
Foundation Details See Remarks
Number of Buildings 1
Spa No
Lot Dimensions 30X150
Lot Size Acres 0.1
Road Surface Type Paved
Road Frontage Type County Road
Road Responsibility Public Maintained Road

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 18447

Price
AVG $330K
$330K
Taxes
AVG $2,920
$2,920
Visits
AVG 191
191
Data Provided by Inside Real Estate®
Year Built
AVG 1926
1926

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