The Flats at Jefferson
$89,999/unit
Marketing description
Introducing 640 Jefferson Avenue, a lucrative investment opportunity in Scranton, Pennsylvania. This 17-unit property boasts a mix of 1-bedroom, 2-bedroom, and studio apartments, offering a diverse income stream and high occupancy rate of 100%. Renovated in 2024/25, the property features modern amenities and a prime location on a spacious 30,000 SF lot in Lackawanna County, ideal for residents seeking comfort and convenience. With a Pro Forma CAP rate of 11.52% and a solid NOI of $176,286, this property promises attractive returns for investors. The surrounding area enjoys a strong demographic profile, with a projected population of 119,983 by 2025 and growing median household incomes. Positioned near major employers, this asset presents a promising opportunity in the thriving Scranton market. Don't miss out on the chance to own 640 Jefferson Avenue and elevate your real estate portfolio in this flourishing region.
Investment highlights
Located in the heart of Scranton, PA, this fully renovated 17- unit multifamily property offers a rare opportunity to own high-quality housing in one of the city’s most desirable and high-demand neighborhoods. Just minutes from Geisinger School of Medicine and Commonwealth Health Regional Hospital, this property is ideally suited for medical students, residents, healthcare professionals, and business travelers alike. Recent renovations have modernized both the interiors and systems, ensuring low-maintenance ownership and a premium living experience for tenants. With close proximity to major employers such as TMG Health, University of Scranton, Sanofi, MetLife, Cigna, Amazon, Johnson College, & McLane Company, this location is a hub of career and academic activity. Perfectly positioned for long-term appreciation and strong rental income, this property is a turn-key asset in a growing market.
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