Listed by Agresti Real Estate
$2,750,000
38 N Park Row
Details
APN 17-040-002.0-110.00
Property Type Retail, Multifamily
Sub Type Apartment Building, Commercial
Square Footage 13,200
Units 18
NOI $198,499
Occupancy 100%
Price per SqFt $208
Year Built 1868
Stories 3
Acreage 0.080
Zoning C-3
Retail | 13,200 SqFt
Marketing description
This exceptional investment opportunity features 18 residential units & 1 commercial space ideally located in the heart of downtown Erie. Positioned w/in close proximity to Gannon University, Erie Insurance, UPMC, the Bayfront & a vibrant mix of restaurants & nightlife the property offers strong tenant demand & long-term stability. The building has been completely remodeled from basement to roof including updated flooring, windows, plumbing, electrical systems, & mechanicals ensuring low maintenance & modern efficiency. Each unit is thoughtfully designed w/granite countertops & stainless steel appliances delivering a high-end contemporary living experience that attracts quality tenants. 24/7 surveillance system & secure entry access provides a safe & controlled environment for residents & commercial occupants alike. With 100% occupancy this turnkey asset presents a fantastic cash flow opportunity for investors seeking immediate returns & long-term appreciation in a prime location.
Listing Contacts
Listed by Agresti Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$198,499.00
$16,541.58/mo
Valuation Metrics
0
DSCR
7.22%
Cap Rate
7.22%
ROI
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