10795 Timbercrest Dr - Apartments FOR SALE


Meadville, PA 16335
$8,000,000 USD
814-460-2000
10795 Timbercrest Dr, Meadville, PA for Sale
$8,000,000 USD
Apartments - FOR SALE
1/42
null | Request Cap Rate

10795 Timbercrest Dr
Meadville, PA 16335


HIGHLIGHTS

  • 102 Unit Multi-Family Investment Property On 25± Acres
  • Own Timbercrest Apartments & Townhomes
  • Upside Potential With Expansion – Original Ownership Plans To Build Additional 144 Units
  • 6 Residential Buildings Totaling 82,278± SF
  • 86.1% Occupancy Rate
  • $819,242 Pro Forma NOI - Offered At 10.2% Pro Forma Cap Rate

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$97 USD /SF

# OF UNITS

102

PRICE/UNIT

$78,431

CAP RATE

Request Cap Rate

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Timbercrest Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

125

LAND DETAILS

LAND ACRES

25.37 AC

LAND SF

1,105,117 SF

ZONING

R-S

APN/PARCEL ID

6506-15-9-1,6506-15-9-1A,6506-15-9-1B

ASK ABOUT THIS PROPERTY

Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

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Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.