Building Details

Tenancy Multi

Listing Agency: Agresti Real Estate i***@tryagresti.com Show Phone

Listed By: Courtney Sias · License #RS354309 Show Phone

Source: Exprealty

Added: Oct 26 Changed: Nov 3 Last Checked: Nov 3 at 2:58PM

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Investment Insights

Based on property information with market context.

This 2,912-square-foot triplex contains three occupied residences, each with its own entrance. Signed leases are in place, and tenants are responsible for rent, utilities, and insurance. The property also includes an on-site parking lot.

Key Highlights

• Three‑unit triplex totaling 2,912 square feet
• All three residences are occupied, with signed leases in place
• Separate entrance for each residence

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,002

Cap Rate

6.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,040 $400.0K

Cap Rate 7%

$285,743 $285.7K

Cap Rate 9%

$222,244 $222.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,912 SF

Gross rent

$29.7K $10.20/SF

− Vacancy

−$1.1K −$0.39/SF

EGI

$28.6K $9.81/SF

− OpEx

−$8.6K −$2.94/SF

NOI

$20.0K $6.87/SF

Area

Erie County, PA

Vacancy

3.80%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,040

Cap Rate 7%

$285,743

Cap Rate 9%

$222,244

Alternative Uses

Best Use

Multifamily LT 5

$285.7K

$250.0K – $333.4K (±1% cap)

NOI $20,002 @ 7.0% cap · market cap 6.16%

Second Best

Apartment 5plus

$255.7K

$223.7K – $298.3K (±1% cap)

NOI $17,897 @ 7.0% cap · market cap 5.51%

Theoretical Best

Office A

$722.4K

$632.1K – $842.9K (±1% cap)

NOI $50,571 @ 7.0% cap · market cap 15.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

118

Businesses Nearby

Explore this area Business Placement

Demographics for 16423, PA

4,122

Population

1,836

Households

2.2

Avg Household Size

42

Median Age

27%

College-Educated

91%

High-School Grad

9.2 sq mi

ZIP Area

448

Density / Sq Mi

$73,523

Median Household Income

$48,262

Median Earnings

$806

Median Rent

$157,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - All three residences are occupied under signed leases, and on-site parking serves the property.

Where is this triplex located?

The property is located at 2136 Lake St Lake City, PA.

What is the asking price?

The asking price for this property is $324,900.

What are key features of this property?

This property features: Three‑unit triplex totaling 2,912 square feet; All three residences are occupied, with signed leases in place; Separate entrance for each residence