Improved Residential Land for Sale in Erie, Pennsylvania
Investment Package, Erie, PA 16502
This 72-unit investment portfolio is a rare, cash-flowing machine with a current rent roll exceeding \$52,000/month and \$630,000+ annually. With actual expenses at just \$211,000, you're netting over \$419,000/year in NOI - that's an 11% cap rate, 22% cash-on-cash return, and a 1.74 DSCR. The well-maintained properties include a mix of multi-units (9, 5, 4, 3, and several 2-units) and single-family homes spread throughout NW, NE, SW, and SE Erie. Step into a fully operational business with an experienced property manager in place, handling leasing, maintenance, lawn care, and more. Seller-owned for years and now retiring - don't miss this chance to buy instant equity and own a high-performing, turn-key investment. If sold separately, the package could bring \$4M+. Seize this grand slam opportunity today! MOST EXTERIOR PICS DATED, UPDATING NEW EXTERIOR PICS TOMORROW!!
Location
- Street address
- Investment Package
- County
- Erie County
- Community
- Erie Northeast
- School district
- City-Erie
Directions
No Directions as this is a 72 unit (42 individual properties) listing
Property details
- Acreage
- 3.69 acres
- MLS #
- GEBR 184056
- Posted
Property taxes
- 2025
- $49,385
Expenses
- Security Deposit
- $50,000 one-time
Details and features
Listing
- Type
- Residential Multi Family
Structure
- Water
- Public
- Sewer
- Public Sewer
- Heating
- Forced Air, Natural Gas
- Materials
- Mixed
Interior
- Rooms
- Bedroom x 116
Property utilities
| Category | Type | Status | Description |
|---|---|---|---|
| Gas | Natural Gas | Connected | — |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Aug 18, 2025 | Under contract | $3,799,900 | — | GEBR |
| Aug 17, 2025 | Listing removed | $3,799,900 | — | Listing agent |
| Aug 13, 2025 | New listing | $3,799,900 | — | GEBR |