$8,000,000.00

10795 TIMBERCREST Dr, MEADVILLE PA 16335

158  | 108.00  | 82278 ft²

Investment   5+ Unit

Nov. 14, 2024, 3:01 p.m.

Timbercrest Apartments & Townhouses, a pet-friendly 102 unit multi-family investment property situated on 25 wooded acres with expansion opportunities is now available for sale. Ideally situated near I-79 & Meadville’s major retail/service corridor with over 25 major retailers within 2 miles. The community includes 48 one bedroom, 1 bathroom & 48 two bedroom, 1.5 bathroom apartments plus 4 two bedroom, 1.5 bath townhouses and 2 three bedroom, 1.5 bathroom townhouses. All units have central air and are equipped with a range, refrigerator, dishwasher and garbage with shared laundry facilities in each building. Tenants pay all utilities. 86.1% Occupancy rate. Upside potential with ample acreage and original ownership plans to build an additional 144 units. Offered at $8,000,000 ($78,413/Unit) with a $819,242 pro forma NOI – 10.2% cap rate. Confidentiality agreement required for detailed information.

Listed by: Sherry Bauer (814) 453-2000, SBRE - Sherry Bauer Real Estate Services (814) 453-2000

Source: MLS#: 180601; Originating MLS: Greater Erie Board of Realtors