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Quincy Student Housing Portfolio 6 Multifamily Properties Offered at $4,850,000 in Scranton, PA
Investment Highlights
- Attractive Entry Basis: Offered at $67,361 per unit and $163.85 per SF, providing a favorable cost basis relative to replacement and comparable assets
- Proven Student Housing Demand: Portfolio benefits from consistent student tenancy supported by Scranton’s higher-education institutions
- Diversified Unit Mix: Units range from approximately 350 to 500 SF, appealing to a broad student demographic while supporting efficient operations
- Strong In-Place Cash Flow with Upside: Current 7.99% cap rate, increasing to a 10.23% pro forma cap rate through rent growth and lease-up
- Value-Add Rent Growth Opportunity: Average rents remain below projected market rents across multiple unit types, creating a clear path for NOI growth
- Compelling Yield Profile: Pro forma cash-on-cash return of 16.74% offering strong income and appreciation potential
Executive Summary
Scope Commercial Real Estate is pleased to present 430 Quincy Avenue and surrounding assets, a 72-unit student housing multifamily portfolio strategically located in Scranton, Pennsylvania. The portfolio consists of multiple well-located residential buildings primarily serving the area’s strong and consistent student renter base.
The property offers approximately 29,600 rentable square feet across efficiently designed studio and one-bedroom units. The portfolio has demonstrated stable historical occupancy with low vacancy, supported by ongoing demand from nearby universities and colleges. Offered at a purchase price of $4,850,000, the portfolio represents a compelling opportunity to acquire a cash-flowing student housing asset at an attractive basis, with meaningful upside through rent growth and operational optimization. The current and pro forma financials reflect strong in-place income with the ability to capture additional value through market rent adjustments.
The property offers approximately 29,600 rentable square feet across efficiently designed studio and one-bedroom units. The portfolio has demonstrated stable historical occupancy with low vacancy, supported by ongoing demand from nearby universities and colleges. Offered at a purchase price of $4,850,000, the portfolio represents a compelling opportunity to acquire a cash-flowing student housing asset at an attractive basis, with meaningful upside through rent growth and operational optimization. The current and pro forma financials reflect strong in-place income with the ability to capture additional value through market rent adjustments.
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Property Facts
| Price | $4,850,000 | Number of Properties | 6 |
| Price / SF | $163.85 / SF | Individually For Sale | 0 |
| Cap Rate | 7.99% | Total Building Size | 29,600 SF |
| Sale Type | Investment | Total Land Area | 0.87 AC |
| Status | Active |
| Price | $4,850,000 |
| Price / SF | $163.85 / SF |
| Cap Rate | 7.99% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 29,600 SF |
| Total Land Area | 0.87 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 430 Quincy Ave, Scranton, PA 18510 | Multifamily | 6,000 SF | 1950 | - |
| 435 Clay Ave, Scranton, PA 18510 | Multifamily | 6,000 SF | 1930 | - |
| 423 N Webster Ave, Scranton, PA 18510 | Multifamily | 5,200 SF | 1916 | - |
| 408 Taylor Ave, Scranton, PA 18510 | Multifamily | 4,900 SF | 1925 | - |
| 413 Taylor Ave, Scranton, PA 18510 | Multifamily | 4,800 SF | 1920 | - |
| 428 Clay Ave, Scranton, PA 18510 | Multifamily | 2,700 SF | 1930 | - |
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Quincy Student Housing Portfolio
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