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

    71 Unit Investment Package Erie, PA 16502

    Sponsored
    For Sale
    $3,799,900

    MULTI_FAMILY - Erie, PA

    Property size:
    68,288 SF
    Lot size:
    3.53 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 5 at 1:06 am

    Property Features for 71 Unit Investment Package

    General Information

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

    Taxes and HOA fees

    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

    Agresti Real Estate (814) 459-9400

    Listing agent Jake Scheloske (814) 449-7973 License #RS318016

    Listing date Mar 4, 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.

    Learn more

    Overview

    Erie Multifamily Investment Portfolio

    This 71-unit investment portfolio presents a cash-flowing opportunity, generating over $54,000 per month and exceeding $655,000 annually. The properties are well-maintained and include a mix of multi-unit buildings with varying unit counts (9, 5, 4, 3, and several 2-unit configurations) and single-family homes. The properties are located throughout the NW, NE, SW, and SE sections of Erie. The portfolio spans a total area of 68288 square feet on a 3.53-acre lot. The property is intended 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

    Nearby Similar for Sale

    • $448,155
      3,377 SF

      Renovated Medical Office Near Hospital

      Fully renovated medical office space near St. Vincent Hospital.
      2626 Sigsbee St, Erie, PA 16508
      View Details
    • $580,000
      5,906 SF

      Remodeled Restaurant and Bar

      Remodeled restaurant, bar, and apartment near Presque Isle.
      3040 W Lake Rd, Erie, PA 16505
      View Details
    • $580,000
      5,906 SF

      Remodeled Restaurant and Bar

      Remodeled restaurant and bar near Waldameer and Presque Isle.
      3040 W Lake Rd, Erie, PA 16505
      View Details
    • New
      $425,000
      Pending

      Route 5 Commercial Property

      Commercial property with multiple income streams in Millcreek Township.
      4845 W Lake Rd, Erie, PA 16505
      View Details
    • New
      $425,000
      Pending

      Erie Commercial Property on Route 5

      Prime commercial property on Route 5 with income-producing units.
      4845 W Lake Rd, Erie, PA 16505
      View Details
    • $499,000
      Pending

      Versatile Commercial Space on Peach

      Commercial property on 2 acres with high traffic visibility.
      8465 Peach St, Erie, PA 16509
      View Details
    • $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
    • $360,000
      1,124 SF

      Erie Auto Shop For Sale

      Turnkey mechanic shop with business and tools included, ample parking.
      2223 State St, Erie, PA 16502
      View Details
    • $239,000
      Pending

      Erie Commercial Office/Retail Condos

      Two commercial condo units totaling 2,700 SF in Erie, PA.
      2051 W 8Th 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
    • $1,599,900
      3,232 SF

      Turnkey Golf Course and Restaurant

      182+ acre golf course and restaurant with lake views.
      3730 Harbor Ridge Trl, Erie, PA 16510
      View Details
    • $180,000
      2,888 SF

      Versatile Commercial Property in Erie

      Commercial property with two bathrooms, HVAC, and ample parking.
      602 E 26Th St, Erie, PA 16504
      View Details

    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/year in NOI with an 11.5+% cap rate and a 27% cash-on-cash return.; - Substantial Monthly Rental Income: Current rent roll exceeds $54,000/month and $655,000+ annually.; - Turn-Key Investment: Fully operational business with an experienced property manager in place handling all aspects of property management.
    (814) 449-7973
    Request Owner's contact information
    71 Unit Investment Package Erie, PA 16502
    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.
    71 Unit Investment Package
    Erie, PA 16502
    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
    71 Unit Investment Package Erie, PA 16502
    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
    (814) 449-7973 (814) 459-9400
    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!