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72 Unit Investment Package Erie, PA 16502

Pending
For Sale
$3,799,900

MULTI_FAMILY - Erie, PA

Property size:
69,588 SF
Lot size:
3.69 Acres
Days on Market:
8
Last Refresh:
Dec 5 at 4:06 am

Property Features for 72 Unit Investment Package

General Information

Property type
Residential Multi Family
Property subtype
Other
Standard status
Pending
Rooms
Bedroom 91, Bedroom 77, Bedroom 5, Bedroom 24, Bedroom 111, Bedroom 15, Bedroom 81, Bedroom 102, Bedroom 21, Bedroom 35, Bedroom 97, Bedroom 45, Bedroom 4, Bedroom 47, Bedroom 62, Bedroom 25, Bedroom 92, Bedroom 85, Bedroom 66, Bedroom 48, Bedroom 71, Bedroom 96, Bedroom 11, Bedroom 64, Bedroom 67, Bedroom 103, Bedroom 110, Bedroom 13, Bedroom 1, Bedroom 57, Bedroom 108, Bedroom 42, Bedroom 50, Bedroom 19, Bedroom 28, Bedroom 41, Bedroom 87, Bedroom 10, Bedroom 79, Bedroom 73, Bedroom 70, Bedroom 72, Bedroom 61, Bedroom 40, Bedroom 86, Bedroom 27, Bedroom 88, Bedroom 101, Bedroom 37, Bedroom 107, Bedroom 53, Bedroom 8, Bedroom 36, Bedroom 76, Bedroom 31, Bedroom 80, Bedroom 98, Bedroom 83, Bedroom 14, Bedroom 68, Bedroom 94, Bedroom 104, Bedroom 29, Bedroom 33, Bedroom 90, Bedroom 60, Bedroom 115, Bedroom 59, Bedroom 69, Bedroom 32, Bedroom 78, Bedroom 82, Bedroom 58, Bedroom 9, Bedroom 100, Bedroom 20, Bedroom 95, Bedroom 34, Bedroom 39, Bedroom 74, Bedroom 44, Bedroom 116, Bedroom 22, Bedroom 16, Bedroom 38, Bedroom 51, Bedroom 43, Bedroom 106, Bedroom 84, Bedroom 23, Bedroom 109, Bedroom 89, Bedroom 17, Bedroom 112, Bedroom 105, Bedroom 114, Bedroom 75, Bedroom 52, Bedroom 7, Bedroom 30, Bedroom 6, Bedroom 56, Bedroom 93, Bedroom 99, Bedroom 12, Bedroom 18, Bedroom 49, Bedroom 63, Bedroom 113, Bedroom 65, Bedroom 3, Bedroom 54, Bedroom 26, Bedroom 46, Bedroom 2, Bedroom 55
Bedrooms
116
APN
00-000-000.0-000.00
Size
69,588 SF
Lot size
3.69 Acres

Taxes and HOA fees

Expense value
50000
Expense
SecurityDeposit
Expense freq.
One Time

Utilities

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

Building Details

Building materials
Mixed

Agresti Real Estate (814) 459-9400 [email protected]

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

Listing date Nov 28, 2025

MLS# 184056 Listing URL

Copyright © 2025 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.


Overview

72-Unit Investment Portfolio in Erie

This 72-unit investment portfolio presents a cash-flowing opportunity with a current rent roll exceeding $52,000 per month, totaling over $630,000 annually. Actual expenses are reported at $211,000, resulting in a net operating income (NOI) of over $419,000 per year. This yields an 11% cap rate, a 22% cash-on-cash return, and a 1.74 debt service coverage ratio (DSCR). The portfolio consists of a mix of multi-unit buildings (including 9-unit, 5-unit, 4-unit, 3-unit, and several 2-unit properties) and single-family homes located throughout the Northwest, Northeast, Southwest, and Southeast areas of Erie. The properties are well-maintained. An experienced property manager is in place, handling leasing, maintenance, and lawn care. The seller is retiring. If sold separately, the package could bring $4M+. The property is located in Erie, PA 16502. The lot size is 3.69 acres and the property size is 69588 square feet.
Location Intelligence

Current Use by Public Records

Single family properties

Map

City
Erie
County
Erie
State
Pennsylvania
Longitude
-80.1014
Latitude
42.1106

FAQs

What type of property is this?
Residential income property - Cash-flowing investment opportunity with high cap rate and cash return.
Where is this residential income property located?
The property is located at 72 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) of over $419,000/year, indicating strong profitability.; - Excellent financial metrics: 11% cap rate, 22% cash-on-cash return, and 1.74 Debt Service Coverage Ratio (DSCR).; - Turn-key investment: Fully operational with an experienced property manager in place handling all aspects of management.
More about this property
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