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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Garden apartment buildings
Pacific Ave, Erie, PA 16506
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US73-4189627
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2002
Construction
WOOD
Total area
10,096 SF
Lot
15.55 ac (677,445 SF)
Zoning code
DR
APN
33-080-417.0-003.00
UPID
US73-4189627
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
$955k
Comparable Approach
Comparable
$653k
Blend (final)
Blend
$780k
Owner & transaction history
Maleno Village Properties LLC · 11 yrs held
Maleno Village Properties LLC
since 2015
4 recorded transactions
Zoning & alternative use
DR · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Erie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
$1,035,000
6.5%
$955,000
7%
$885,000
Blend value · Realmo final
$780k
Range $702k – $858k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$183,754
Tax year 2023
Assessed value
$7,104,600
Assessed 2024
Previous assessed
$7,104,600
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$659,300
Assessed improvement
$6,445,300
Land market value
$659,300
Improvement market value
$6,445,300
Total market value
$7,104,600
Applied tax rate
33.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2002
Construction
WOOD
Heating
NONE
Buildings
9
Stories
6
Total area
10,096 SF
Lot
15.55 ac (677,445 SF)
Zoning code
DR
APN
33-080-417.0-003.00
UPID
US73-4189627
Jurisdiction
ERIE
Zoning & alternative use
DR · Erie, PA
Zoning DR · permitted uses
DR · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Erie. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2002
Construction
WOOD
Heating
NONE
Stories
6
Buildings
9
Lot
15.55 ac
Current owner
From public records · entity-resolved
Maleno Village Properties LLC
Entity
Mailing address
2340 W GRANDVIEW BLVD STE #1, ERIE, PA 16506-4588
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2015
$738,878,400
Maleno Village Properties LLC
The Maleno Family LP
Special Warranty Deed
$7,840,000 · Exception - Lender Not On Table
May 26, 2005
—
Maleno Diversified Props LLC
Maleno Family
Quit Claim Deed
related
$7,200,000 · Lasalle National Bank
Mar 23, 2001
—
Maleno Family LP
—
Deed Of Trust
related
$1,361,200 · National City Bank Pennsylvani
—
—
Maleno Ramily LP
—
Deed Of Trust
related
$626,250 · National City Bank Pennsylvani
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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