Triplex with Fenced
New
For Sale
$440,000
3223 W 12TH Street, Erie, PA 16505
MULTI_FAMILY - Other - Erie, PA
Property Size3,172 SF
Lot Size0.65 Acres
Price / SF$138.71
Days on Market4
Property Features for 3223 W 12TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 7, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 5
Parking features
Oversize
Lot features
Landscaped, Level
Elementary school district
Millcreek
Middle school district
Millcreek
High school district
Millcreek
Directions
W. 12th.(W of Peninsula Dr.) to 3324 on N. side of street
Subdivision
5 - Millcreek N of W26
Standard status
Active
APN
33-035-074.0-006.00
Size
3,172 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5176
Expense value
25000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Building materials
AluminumSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Denise Caruana · License #RS212466L
(814) 873-4620
Added: Jul 28
Changed: Jul 31
Last Checked: Jul 31 at 11:06PM
MLS# 192289
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 triplex includes a main owner-occupied home plus two two-bedroom apartments. The apartments have separate entrances and separate utilities except for garbage, which is split among the three units. The main home features a remodeled eat-in kitchen, formal dining room, living room, remodeled full bath, and bedrooms across two levels, along with a basement with partially finished space and a finished bonus room. A 3/4-car garage includes an additional finished bonus room off the back of the garage and overhead storage.
The apartments are each configured as two-bedroom, one-bath units with living room and kitchen, and they are currently leased under Section 8. The second-floor tenant lease expires Aug. 1, and the first-floor tenant lease expires 1/1/27.
Set on a 0.6457-acre lot, the property is approximately 3,172 square feet. Construction includes aluminum siding, with radiant natural gas heat and window air-conditioning. Public water and public sewer service the home, and the roof is asphalt. Parking includes oversize parking, and the home was built in 1950.
The apartments are each configured as two-bedroom, one-bath units with living room and kitchen, and they are currently leased under Section 8. The second-floor tenant lease expires Aug. 1, and the first-floor tenant lease expires 1/1/27.
Set on a 0.6457-acre lot, the property is approximately 3,172 square feet. Construction includes aluminum siding, with radiant natural gas heat and window air-conditioning. Public water and public sewer service the home, and the roof is asphalt. Parking includes oversize parking, and the home was built in 1950.
Key Highlights
- Two separate two‑bedroom apartments with entrances and separate utilities (garbage split among three units)
- Owner‑occupied main home with remodeled eat‑in kitchen, formal dining room, living room, and remodeled full bath
- Basement with partially finished room, finished bonus room, plus 3/4‑car garage with finished bonus room and overhead storage
Financial Insights For Multifamily LT 5
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 | $32.4k | $10.20 |
| − Vacancy | −$1.2k | −$0.39 |
| EGI | $31.1k | $9.81 |
| − OpEx | −$9.3k | −$2.94 |
| NOI | $21.8k | $6.87 |
3,172 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$311.2K
$272.3K – $363.1K
NOI $21,787 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$278.5K
$243.7K – $324.9K
NOI $19,495 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$786.9K
$688.6K – $918.1K
NOI $55,086 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 16505, PA
16,437
Population
8,407
Households
2
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
11.7 sq mi
ZIP Area
1,405
Density / Sq Mi
$71,370
Median Household Income
$45,793
Median Earnings
$871
Median Rent
$196,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex on a fenced lot with two separate two-bedroom apartments, separate entrances, and utility separation except garbage split.
Where is this triplex located?
The property is located at 3223 W 12TH Street Erie, PA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two separate two‑bedroom apartments with entrances and separate utilities (garbage split among three units); Owner‑occupied main home with remodeled eat‑in kitchen, formal dining room, living room, and remodeled full bath; Basement with partially finished room, finished bonus room, plus 3/4‑car garage with finished bonus room and overhead storage
