Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3400 Francis St Erie, PA 16510

    View on Map
    Sponsored
    For Sale
    $965,000

    MULTI_FAMILY - Other - Erie, PA

    Property size:
    9,120 SF
    Lot size:
    0.29 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 27 at 4:06 pm

    Property Features for 3400 Francis St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 10, Bedroom 5, Bedroom 8, Bedroom 9, Bathroom 8, Bathroom 6, Bathroom 7, Bathroom 11, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 12, Bedroom 2, Bathroom 5, Bedroom 12, Bedroom 6, Bathroom 2, Bathroom 4, Bedroom 11, Bathroom 9, Bathroom 10
    Bedrooms
    12
    Bathrooms
    12
    APN
    50-002-041.0-042.01
    Parking
    14
    Size
    9,120 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Expense value
    25000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1979
    Floors in Building
    2
    Number of units
    1
    Building materials
    VinylSiding
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jake Scheloske

    Agresti Real Estate

    Listing agent Jake Scheloske License #RS318016

    Listing date Mar 27, 2026

    MLS# 190078

    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.

    Learn more

    Property Insight Report

    Overview

    Wesleyville Borough 12-Unit Investment Property

    Located on a quiet dead-end street in Wesleyville Borough, Erie, PA, this well-maintained, family-owned 12-unit multifamily property presents a rare investment opportunity. Situated within the Iroquois School District, the property offers significant cash flow potential with strong in-place fundamentals and clear upside. Each of the oversized 1-bedroom, 1-bath units includes a full kitchen, a spacious living room, and a private balcony. Air conditioning is provided in each unit. The property features separately metered systems throughout, with tenants responsible for all utilities except sewer and garbage, which helps to keep expenses low. The setting includes peaceful creek views and off-street parking, enhancing tenant appeal and long-term stability. The lot size is 0.293 acres and the building size is 9,120 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.009852
    Latitude
    42.136954

    Nearby Similar for Sale

    • $315,000
      Pending

      West 12th Street Commercial Property

      Commercial property on West 12th Street suitable for multiple uses.
      3603 W 12Th St, Erie, PA 16505
      View Details
    • $255,000
      1,176 SF

      Erie Commercial Property on 38th

      Commercial property with multi-use zoning in a busy corridor.
      1618 E 38Th St, Erie, PA 16510
      View Details
    • New
      $325,000
      Pending

      Erie Investment Opportunity: Four Units

      Two duplexes, four units, long-term tenants, separate utilities.
      2623-2629 E 29Th St, Erie, PA 16510
      View Details
    • New
      $164,500
      2,068 SF

      Established Pizzeria Business Opportunity

      Turn-key pizzeria business for sale in Erie, PA.
      MIA'S Pizzeria St, Erie, PA 16508
      View Details
    • New
      $179,900
      6,236 SF

      Erie Multifamily Investment Opportunity

      Solid brick quadplex with off-street parking on oversized lot.
      234 W 20Th St, Erie, PA 16502
      View Details
    • New
      $135,000
      1,744 SF

      Erie Investment Property For Sale

      Two-unit property with remodeled first floor and off-street parking.
      730 E 5Th St, Erie, PA 16507
      View Details
    • New
      $157,500
      2,034 SF

      Multifamily Property in Erie, PA

      Two houses on one lot, fully occupied investment opportunity.
      550 E 9Th St, Erie, PA 16503
      View Details
    • $495,000
      6,335 SF

      Freestanding Mixed-Use Building For Sale

      6,335 SF mixed-use building with retail, storage, and office space.
      3412 W Lake Rd, Erie, PA 16505
      View Details
    • New
      $147,000
      1,496 SF

      Erie Income Producing Duplex

      Income-generating duplex, currently operating as an Airbnb.
      520 E 2Nd St, Erie, PA 16507
      View Details
    • New
      $126,000
      1,496 SF

      Erie Investment Property For Sale

      Fully occupied duplex in Erie, Pennsylvania. Investment opportunity.
      1125 E 8Th St, Erie, PA 16503
      View Details
    • New
      $126,000
      1,795 SF

      Erie Income Producing Duplex

      Two-unit income property in Erie, Pennsylvania.
      1133 E 8Th St, Erie, PA 16503
      View Details
    • New
      $114,900
      Pending

      Erie Two-Unit Residential Property

      Well-maintained two-unit property with long-term tenants and off-street parking.
      1314 E 35Th St, Erie, PA 16504
      View Details

    FAQs

    What type of property is this?
    Apartment building - Rare 12-unit multifamily property in a desirable Erie location.
    Where is this apartment building located?
    The property is located at 3400 Francis St Erie, PA.
    What is the asking price?
    The asking price for this property is $965,000.
    What are key features of this property?
    This property features: - High cash flow potential with upside for increased returns.; - 12 units in desirable Wesleyville Borough, Iroquois School District - a rare investment opportunity.; - Well-maintained asset, family-owned and meticulously cared for.
    (814) 449-7973
    Request Owner's contact information
    3400 Francis St Erie, PA 16510
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3400 Francis St
    Erie, PA 16510
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3400 Francis St Erie, PA 16510
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jake Scheloske
    Real Estate License ID: RS318016
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!