Quincy Student Housing Portfolio Multi-Family FOR SALE


Scranton, PA - Hill Section
$4,850,000 USD
717-554-4881
, Scranton, PA for Sale
$4,850,000 USD
Multi-Family - FOR SALE
1/6
null | 8.05% Cap Rate

Quincy Student Housing Portfolio
Scranton, PA
Hill Section


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
  • Strong In-Place Cash Flow with Upside: Current 8.05% cap rate, increasing to a 10.30% pro forma cap rate through rent growth and lease-up
  • Proven Student Housing Demand: Portfolio benefits from consistent student tenancy supported by Scranton’s higher-education institutions
  • Value-Add Rent Growth Opportunity: Average rents remain below projected market rents across multiple unit types, creating a clear path for NOI growth
  • Diversified Unit Mix: Units range from approximately 350 to 500 SF, appealing to a broad student demographic while supporting efficient operations
  • Compelling Yield Profile: Pro forma cash-on-cash return of 17.02% with a projected total return exceeding 22%, offering strong income

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

Craig DunkleSCOPEMore Info
717-554-4881

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Craig DunkleSCOPEMore Info
717-554-4881

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.