$720,000.00
435 W 10TH St, ERIECITY PA 16502
16 | 11568 ft2
Investment 5+ Unit
Dec. 3, 2024, 6:52 p.m.
11,568± SF mixed-use commercial investment opportunity featuring 8 two bedroom, 1 bathroom apartments & 1,088± SF office. 7,712± SF above grade area consists of eight 964± SF apartments: living room, kitchen/dining area, 2 bedrooms & full bathroom. Current average monthly rent is $789 with 6 of 9 tenants paying separately metered electric. Landlord pays gas, water, sewer & trash. 1,088± SF finished lower level office: 3 offices, conference room, open office area & restroom. 2,768± SF lower level basement: 6 tenant storage bins, utility room & laundry room. Built in 1969 on 0.3133± acres zoned RLB, Residential Limited Business. 16 car paved parking lot. Public utilities, gas forced air heat & central air conditioning. $88,320 Total Annual Rental Income. $64,188 Net operating income. Upside potential with below market rents – $788/month average rent. $100,200 pro-forma annual income. $76,068 Pro-forma net operating income. Offered at $795,000 – 8.10% cap rate – 9.57% pro-forma cap rate.
Listed by: Sherry Bauer (814) 453-2000, SBRE - Sherry Bauer Real Estate Services (814) 453-2000
Source: MLS#: 180947; Originating MLS: Greater Erie Board of Realtors
| Directions | Cherry Street To W. 10th Street. South Side Of Street Between Walnut & Chestnut Streets. See signage for Career Assessment Center Inc. |
| Year Built | 1969 |
| Area | 2 - Erie Northwest |
| Road Surface | Paved Public |
| Water | Public |
| School Districts | City-Erie |
| Lot Description | At Grade |
| Building Information | Existing Structure |
| Construction | Brick,Masonry |
| Fuel Type | Gas |
| Roof Description | Composition |
| Heating Type | Forced-Air |
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