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    Erie Multifamily Investment Portfolio Title is generated by Realmo AI

    71 UNIT INVESTMENT PACKAGE, Erie, PA 16502

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    Claim this Listing
    For Sale
    $3,799,900

    MULTI_FAMILY - Erie, PA

    Property size:
    68,288 SF
    Lot size:
    3.53 Acres
    Price / SF:
    $55/SF
    Added:
    Mar 2, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 71 UNIT INVESTMENT PACKAGE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    110
    Rooms
    Bedroom 30, Bedroom 26, Bedroom 74, Bedroom 48, Bedroom 76, Bedroom 15, Bedroom 90, Bedroom 17, Bedroom 41, Bedroom 63, Bedroom 46, Bedroom 23, Bedroom 37, Bedroom 86, Bedroom 31, Bedroom 110, Bedroom 108, Bedroom 12, Bedroom 8, Bedroom 51, Bedroom 83, Bedroom 103, Bedroom 68, Bedroom 105, Bedroom 28, Bedroom 20, Bedroom 102, Bedroom 69, Bedroom 58, Bedroom 60, Bedroom 94, Bedroom 73, Bedroom 57, Bedroom 78, Bedroom 32, Bedroom 42, Bedroom 36, Bedroom 29, Bedroom 109, Bedroom 97, Bedroom 92, Bedroom 3, Bedroom 38, Bedroom 100, Bedroom 49, Bedroom 91, Bedroom 95, Bedroom 27, Bedroom 19, Bedroom 5, Bedroom 107, Bedroom 93, Bedroom 50, Bedroom 104, Bedroom 80, Bedroom 66, Bedroom 7, Bedroom 88, Bedroom 77, Bedroom 43, Bedroom 35, Bedroom 82, Bedroom 40, Bedroom 81, Bedroom 106, Bedroom 24, Bedroom 99, Bedroom 54, Bedroom 64, Bedroom 87, Bedroom 6, Bedroom 16, Bedroom 47, Bedroom 56, Bedroom 85, Bedroom 4, Bedroom 55, Bedroom 84, Bedroom 39, Bedroom 45, Bedroom 101, Bedroom 79, Bedroom 71, Bedroom 59, Bedroom 1, Bedroom 67, Bedroom 13, Bedroom 75, Bedroom 70, Bedroom 10, Bedroom 18, Bedroom 9, Bedroom 53, Bedroom 61, Bedroom 21, Bedroom 44, Bedroom 33, Bedroom 11, Bedroom 62, Bedroom 96, Bedroom 65, Bedroom 25, Bedroom 89, Bedroom 2, Bedroom 34, Bedroom 22, Bedroom 98, Bedroom 52, Bedroom 14, Bedroom 72
    Standard status
    Active
    APN
    00-000-000.0-000.00
    Size
    68,288 SF
    Lot size
    3.53 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    45717
    Expense value
    50000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Building materials
    Mixed

    We can help!

    Listing Contact
    Jake Scheloske

    Listing agent Jake Scheloske License #RS318016

    Listing office Agresti Real Estate 2635 W 26th Street, Erie, PA

    Listing date Mar 2, 2026

    MLS# 189809 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.

    HighLights

    • High Net Operating Income (NOI): Generates over $437,000 annually.
    • Strong Financial Returns: Offers an 11.5+% cap rate and a 27% cash‑on‑cash return.
    • Substantial Rent Roll: Current rent roll exceeds $54,000/month and $655,000+ annually.
    • Turn‑Key Investment: Fully operational with an experienced property manager in place.
    • Diversified Portfolio: Includes a mix of multi‑unit and single‑family homes across various locations in Erie.
    • Potential for Increased Value: Package could be worth more if sold separately.

    Overview

    This 71-unit investment portfolio presents a cash-flowing opportunity, with a current rent roll exceeding $54,000 per month and over $655,000 annually. Actual expenses are reported at $218,000, resulting in a net operating income (NOI) of over $437,000 per year. The properties include a mix of multi-unit buildings with 9, 5, 4, 3, and several 2-unit configurations, as well as single-family homes. These properties are located throughout the Northwest, Northeast, Southwest, and Southeast areas of Erie. The property size is 68288 square feet on a 3.53-acre lot. The portfolio is being offered as a fully operational business with an experienced property manager in place, handling leasing, maintenance, and lawn care.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.1014
    Latitude
    42.1106

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    FAQs

    What type of property is this?
    Multifamily property - 71-unit investment portfolio with high cash flow.
    Where is this multifamily property located?
    The property is located at 71 UNIT INVESTMENT PACKAGE Erie, PA.
    What is the asking price?
    The asking price for this property is $3,799,900.
    What are key features of this property?
    This property features: High Net Operating Income (NOI): Generates over $437,000 annually.; Strong Financial Returns: Offers an 11.5+% cap rate and a 27% cash‑on‑cash return.; Substantial Rent Roll: Current rent roll exceeds $54,000/month and $655,000+ annually.
    (814) 459-9400
    We can help!
    Listing Contact
    Jake Scheloske
    Real Estate License ID: RS318016
    Learn More
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    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
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