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Multifamily HUD

Finch Towers

424 Wyoming Ave, Scranton, PA 18503

Listing Price: Request For Offer

Number of Units
48
Gross SF
48,735

Investment Overview

Marcus and Millichap is pleased to present for sale the Finch Towers Apartment Building, located at 434 Wyoming Avenue, Scranton, PA., just north of US 11 and PA 307 in the Downtown Scranton Multi-family Submarket. This 48 unit 5 story Mid-Rise Class B Apartment Building is categorized as; Subsidized HUD Low-Income - Section 8 Affordable Senior Housing Units. Finch Towers has significant historical prominence, and is registered on the ‘National Register of Historical Places - Pennsylvania, Lackawanna County. The Subject Property is a renaissance revival style stone building designed by William Scott-Collins; construction started in 1896 and was completed in 1899. The first occupant was the International Correspondence School in the early 1900’s; in 1976 it was added to the National Historic Registry; in 1983 the property was renovated and converted into an apartment building. The property has had significant repairs and improvement projects completed over the past six years. The Subject Property has 30 surface parking spaces, sits on 0.65 acres of land, with a typical floor plate of 9,747 square feet - totaling 48,735 square feet. This asset is ideal for a non-profit, or apartment investor looking for a stabilized ‘affordable housing’ apartment building. The property is walking distance to many local amenities with a 90 point walkability score. *Ownership also recently updated the Elevator Systems*

Investment Highlights

  • 48 Unit Mid-Rise Apartment Building in Downtown Scranton, PA
  • Low Income - HUD Section 8 Affordable Housing
  • Upside in Management & Increasing Rents
  • Significant Repairs and Improvements Completed Over Past Six(6) Years

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
48
Gross SF
48,735

Investment Highlights

  • 48 Unit Mid-Rise Apartment Building in Downtown Scranton, PA
  • Low Income - HUD Section 8 Affordable Housing
  • Upside in Management & Increasing Rents
  • Significant Repairs and Improvements Completed Over Past Six(6) Years

Investment Overview

Marcus and Millichap is pleased to present for sale the Finch Towers Apartment Building, located at 434 Wyoming Avenue, Scranton, PA., just north of US 11 and PA 307 in the Downtown Scranton Multi-family Submarket. This 48 unit 5 story Mid-Rise Class B Apartment Building is categorized as; Subsidized HUD Low-Income - Section 8 Affordable Senior Housing Units. Finch Towers has significant historical prominence, and is registered on the ‘National Register of Historical Places - Pennsylvania, Lackawanna County. The Subject Property is a renaissance revival style stone building designed by William Scott-Collins; construction started in 1896 and was completed in 1899. The first occupant was the International Correspondence School in the early 1900’s; in 1976 it was added to the National Historic Registry; in 1983 the property was renovated and converted into an apartment building. The property has had significant repairs and improvement projects completed over the past six years. The Subject Property has 30 surface parking spaces, sits on 0.65 acres of land, with a typical floor plate of 9,747 square feet - totaling 48,735 square feet. This asset is ideal for a non-profit, or apartment investor looking for a stabilized ‘affordable housing’ apartment building. The property is walking distance to many local amenities with a 90 point walkability score. *Ownership also recently updated the Elevator Systems*

Exclusively Listed By

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