10795 Timber Crest Dr Meadville, PA 16335
- Apartment buildings
- 82,278 SF
- 25.37 lot acres
Current Use by Public Records
- Timbercrest Apartments / Apartment Building
Property Details for 10795 Timber Crest Dr
- Year built
- 1978
- Lot size
- 25.37 lot acres
- Property size
- 82,278 SF
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents Timbercrest Apartments & Townhomes, a 102-unit complex situated on approximately 25 acres in Meadville, Pennsylvania. The property comprises six buildings totaling 82,278 square feet, featuring a mix of 48 one-bedroom/one-bathroom and 48 two-bedroom/1.5-bathroom apartments, along with six townhouses (four two-bedroom/1.5-bathroom and two three-bedroom/1.5-bathroom units). All units include central air conditioning and appliances (range, refrigerator, dishwasher). Tenants are responsible for all utilities. Shared laundry facilities are conveniently located within each building. Currently boasting an 86.1% occupancy rate, the property generates a pro forma NOI of $819,242, representing a 10.2% pro forma capitalization rate. The asking price is $8,000,000, translating to $78,431.37 per unit. The property is zoned R-S and offers significant upside potential with ample land for expansion
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Meadville
- County
- Crawford
- State
- Pennsylvania
- Longitude
- -80.1963
- Latitude
- 41.6143
