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Size: 2.48 Acres
Type: House

Two Story, Multi Family - Erie, PA

Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based on a market analysis, significant rent growth potential exists—townhouses can easily rent for $1100-$1200, & apartments for $800. With each unit individually metered for gas, electric, and water (tenants pay utilities), the owner only covers sewer & garbage. This property offers incredible cash flow potential & can achieve a 9.62%+ CAP rate based on projected APOD. Prime location close to all am...

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W. Ridge Rd. (Rt. 20) between McKee and Colonial, across from Barber National Institute

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Agresti Real Estate

License #RS318016

Erie, PA

(814) 459-9400

Jake Scheloske

Agresti Real Estate
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Agresti Real Estate, (814) 459-9400
MLS# 181424
Listing status: Pending
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