12-Unit Apartment Building with
3400 FRANCIS Street Erie, PA 16510
3400 FRANCIS Street, Erie, PA, 16510
$899,900
Pending
For Sale
$899,900
Pending
MULTI_FAMILY - Other - Erie, PA
Property Size9,120 SF
Lot Size0.29 Acres
Days on Market115
Property Features for 3400 FRANCIS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 12
- Rooms
- Bedroom 7, Bathroom 12, Bedroom 1, Bathroom 4, Bedroom 10, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 12, Bathroom 6, Bathroom 7, Bedroom 8, Bathroom 9, Bathroom 1, Bathroom 5, Bedroom 9, Bedroom 4, Bathroom 8, Bathroom 10, Bathroom 11, Bedroom 6, Bedroom 11, Bedroom 3, Bedroom 2
- Parking
- 14
- Standard status
- Pending
- APN
- 50-002-041.0-042.01
- Size
- 9,120 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11639
- Expense value
- 25000
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- 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
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Jake Scheloske · License #RS318016
(814) 449-7973
Added: Mar 26 Checked: Jul 18 at 11:06 pm
MLS# 190078
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 12-unit apartment building features oversized one-bedroom, one-bath layouts with full kitchens and spacious living rooms. Each unit includes a private balcony and air conditioning, supporting year-round comfort for tenants. The property is described as well-maintained and includes separately metered systems throughout, with tenants paying all utilities except sewer and garbage.
Located on a quiet dead-end street in Wesleyville Borough within the Iroquois School District, the building benefits from a residential setting. The property is also positioned with off-street parking and is described as having peaceful creek views.
For investors and buyers seeking an income-oriented multifamily asset, the combination of one-bedroom unit uniformity and tenant-paid utilities (excluding sewer and garbage) can simplify budgeting and reduce landlord utility exposure. The presence of private outdoor space, in-unit A/C, and off-street parking are practical resident-focused features that can support everyday tenant satisfaction in a small, self-contained community.
Located on a quiet dead-end street in Wesleyville Borough within the Iroquois School District, the building benefits from a residential setting. The property is also positioned with off-street parking and is described as having peaceful creek views.
For investors and buyers seeking an income-oriented multifamily asset, the combination of one-bedroom unit uniformity and tenant-paid utilities (excluding sewer and garbage) can simplify budgeting and reduce landlord utility exposure. The presence of private outdoor space, in-unit A/C, and off-street parking are practical resident-focused features that can support everyday tenant satisfaction in a small, self-contained community.
Key Highlights
- 12‑unit multi‑family property with oversized 1‑bedroom, 1‑bath units
- Each unit includes a full kitchen, spacious living room, and private balcony
- A/C included in each unit, plus forced‑air heating with natural gas
Local Financial Insights For Apartment 5plus
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 | $106.2k | $11.64 |
| − Vacancy | −$4.2k | −$0.47 |
| EGI | $101.9k | $11.17 |
| − OpEx | −$45.9k | −$5.03 |
| NOI | $56.1k | $6.15 |
9,120 SF · lease $11.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$800.7K
$700.6K – $934.2K
NOI $56,051 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,382 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twelve spacious one-bedroom units with private balconies and individually metered systems offer a straightforward operating model.
Where is this apartment building located?
The property is located at 3400 FRANCIS Street Erie, PA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 12‑unit multi‑family property with oversized 1‑bedroom, 1‑bath units; Each unit includes a full kitchen, spacious living room, and private balcony; A/C included in each unit, plus forced‑air heating with natural gas
