524 River St

Scranton, PA 18505

$489,000
Price
8
Beds
7,200 Sq. Ft.
$68 / Sq. Ft.
7,200
Sq. Ft.
$68
per Sq. Ft.
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Description

Turnkey 5-Unit Investment Opportunity on River StreetFully 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...Turnkey 5-Unit Investment Opportunity on River StreetFully 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.
  1. Listed by Jeremy J Watson • Brokerage DRE #RB069689 • SIX PM LLC
    P: (570)-352-5162 C: (570)-352-5162 jwatson@thesixpm.com

Property Details for 524 River Street

Zoning
Residential
LISTING UPDATED: 06/09/2026 12:37 PM

Property Details for 524 River Street

StatusActive
MLS #PW251537
Days on Market10015
Taxes$7,129 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1919
Lot Size0.16 AC / 6,969 SF
CountyLackawanna County
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Location

Listing Courtesy of SIX PM LLC
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Building Information for 524 River Street

Stories3Residences5Year Built1919Building Size-Lot Size0.16 AC / 6,969 SF

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$3,031 per month

30 year fixed, 6.36% Interest

Principal and Interest

$2,437

Property Taxes

$594

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 524 River Street

Summary
Location and General Information
  • Directions: From Scranton, Take Pittston Ave. Turn onto River Street. See on Right.
  • Latitude: 41.400237
  • Longitude: -75.662577
Taxes and HOA
  • Additional Parcels: No
  • Association: No
  • Parcel Number: 15616040055
  • Tax Annual Amount: $7,129.04
  • Tax Assessed Value: 316265
  • Tax Book Number: 202213445
  • Tax Year: 2024
School Information
  • High School District: Scranton School District
Parking
  • Garage: No
  • Parking Features: Alley Access, Off Street, On Street
Property
Lot Information
  • Lot Dimensions Source: Public Records
  • Lot Size Acres: 0.16
  • Lot Size Dimensions: 45'x157'x45'x157'
  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road
Property and Assessments
  • Above Grade Finished Area: 7200.0
  • Below Grade Finished Area: 2400.0
  • Current Use: Commercial, Multi-Family
  • Living Area: 7200.0
  • New Construction: No
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Year Built: 1919
  • Year Built Source: Public Records
Building Features
  • Number Of Buildings: 1
  • Structure Type: Multi Family
  • Levels: Three Or More
  • Stories: 3
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Exterior Features: Balcony, Private Yard
Interior Features
  • Appliances: Electric Oven, Refrigerator, Microwave
  • Basement: Full, Unfinished
  • Has Basement: Yes
  • Full Bathrooms: 5
  • Total Bathrooms: 5
  • Total Bedrooms: 8
  • Cooling: Ceiling Fan(s)
  • Has Cooling: Yes
  • Flooring: Vinyl
  • Heating: Baseboard, Electric
  • Has Heating: Yes
  • Has Spa: No
Multi Family
Multi Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Gross Income: $54,600
  • Income Includes: Rent Only

Property History for 524 River Street

DateEvent & SourcePriceAppreciation
Aug 19, 2025

Price Change

Pike/Wayne Association of REALTORS #PW251537

$489,000—
May 24, 2025

Listed (Active)

Pike/Wayne Association of REALTORS #PW251537

$519,000—
Jun 28, 2010

Expired

Greator Scranton Board of REALTORS #10-395

$249,900—
DateEvent & SourcePrice
08/19/2025

Price Change

Pike/Wayne Association of REALTORS #PW251537

$489,000
05/24/2025

Listed (Active)

Pike/Wayne Association of REALTORS #PW251537

$519,000
06/28/2010

Expired

Greator Scranton Board of REALTORS #10-395

$249,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 524 River Street

This home is within Scranton School District.
Rating
School
Type
Grades
Distance
John G Whittier #2
Public - K to 4
South Scranton Intermediate School
Public - 5 to 8
Scranton High School
Public - 7 to 12
Marian Catholic Primary Campus
Private - PK to 3
Rating
School
Distance
John G Whittier #2
PublicK to 4

South Scranton Intermediate School
Public5 to 8

Scranton High School
Public7 to 12

Marian Catholic Primary Campus
PrivatePK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 524 River Street, Scranton, PA 18505

524 River Street is a multi-family home for sale in Scranton, PA 18505. This property was listed for sale on May 24, 2025 by SIX PM LLC, it's currently listed at $489,000. This listing's school district is Scranton School District. Nearby schools include John G Whittier #2, South Scranton Intermediate School and Scranton High School. 524 River Street is a 8-bed, 5-bath, 7,200 sqft multi-family home built in 1919.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of SIX PM LLC

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Pike/Wayne Association of REALTORS®. 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. Real estate listings held by brokerage firms other than Compass and its related brokerages, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Pike/Wayne Association of REALTORS®. All Rights Reserved.