Meadville Fourplex Investment
328 WALLACE Street Meadville, PA 16335
328 WALLACE Street, Meadville, PA, 16335
$169,000
For Sale
$169,000
MULTI_FAMILY - Other - Meadville, PA
Property Size1,440 SF
Lot Size0.07 Acres
Price / SF$117.36
Days on Market272
Property Features for 328 WALLACE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 4
- Parking features
- Garage
- Standard status
- Active
- APN
- 3300-014-F-23
- Size
- 1,440 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1484
- Expense value
- 2500
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Mixed
- Roof type
- Metal, Rubber
- Architectural style
- Other
Listing Agency
ERA Richmond Real Estate Service
(814) 337-6000
751 N Main St, Meadville, PA
Listed by
Brode Berger · License #RS372708
(814) 337-6000
Added: Oct 20, 2025 Checked: Jul 18 at 8:06 am
MLS# 188526
Listing URL
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fourplex presents a great investment opportunity in the heart of Meadville City, near the main intersection of North Street and North Main Street. The property features four efficiency apartments, all furnished. The owner controls payment of all utilities, which are managed through a single meter. The property has been under long-term ownership. A one-car detached garage is used by the owner as a workshop and for storage. Street parking is available. Two of the units have front and rear porches. The annual gross income is currently $31,500. A metal roof was installed in 2023, and a new gas hot water heater has been added. The property size is 1,440 square feet, situated on a lot of 0.07 acres.
Key Highlights
- Annual gross income of $31,500.
- Four fully furnished efficiency apartments.
- New metal roof (2023).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.1k | $12.60 |
| − Vacancy | −$947 | −$0.66 |
| EGI | $17.2k | $11.94 |
| − OpEx | −$5.2k | −$3.58 |
| NOI | $12.0k | $8.36 |
1,440 SF · lease $12.60/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$172.0K
$150.5K – $200.6K
NOI $12,038 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$157.8K
$138.1K – $184.1K
NOI $11,047 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$357.3K
$312.6K – $416.8K
NOI $25,008 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four furnished efficiency apartments near North St & N. Main.
Where is this quadplex located?
The property is located at 328 WALLACE Street Meadville, PA.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Annual gross income of $31,500.; Four fully furnished efficiency apartments.; New metal roof (2023).
