$4,100,000.00

4175 W RIDGE Rd, ERIECITY PA 16506

78  | 72.00  | 36696 ft²

Investment   5+ Unit

Feb. 8, 2025, 8:25 a.m.

Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based on a market analysis, significant rent growth potential exists—townhouses can easily rent for $1100-$1200, & apartments for $800. With each unit individually metered for gas, electric, and water (tenants pay utilities), the owner only covers sewer & garbage. This property offers incredible cash flow potential & can achieve a 9.62%+ CAP rate based on projected APOD. Prime location close to all amenities makes this a perfect investment! Located by LECOM adds extra premium rent possibilities!

Listed by: Jake Scheloske (814) 449-7973, Agresti Real Estate (814) 459-9400

Source: MLS#: 181424; Originating MLS: Greater Erie Board of Realtors